Do it yourself (DIY) estate planning is a growing trend. Many people believe that it’s a great way to save both time and money on the estate planning process.
While it sounds like a good idea on the surface — at least to some people — it’s generally a poor idea. DIY estate planning puts you, your loved ones, and your assets at risk.
Here’s why you should avoid it:
- The potential for mistakes: If you don’t understand estate planning, as well as the many state and federal laws that apply to you, it’s easy to make a mistake. And if you make a mistake today, it could impact you and/or your family in the future.
- A false sense of security: After creating an estate plan on your own, you’ll feel better. You’ll feel like everything is now in order in regards to your future. But that’s a problem because you have a false sense of security. You may think you’ve made all the right decisions, but as noted above, there’s a chance that you haven’t.
- No one to lean on: With DIY estate planning, you’re in charge of every last detail. You have to answer your own questions and make your own decisions. That’s in contrast to consulting with an estate planning attorney who will guide you from beginning to end.
There are more DIY estate planning solutions available today than ever before, but that doesn’t mean it’s a good idea. Before you head down this path, consider the risks above and the impact a mistake could have on your future.
If you’re ready to consult with an estate planning attorney, contact us online or via phone at 520.529.4000. From there, we’ll set you up with an attorney who can answer your questions, address your needs, and make sure you feel confident in the plan you create.
