A do-it-yourself will seems tempting. After all, it could be an easy way to outline your estate planning intentions and to ensure that your loved ones get what you intend for them. However, do-it-yourself wills may have numerous problems embedded in them, such as the fact that template forms may not consider unique aspects of your estate plan and may not be in line with state rules over what wills can and cannot do.
While it seems like the easy route, it might actually make things much harder for your loved ones. A simple mistake can turn into a big mess when you pass away, and it’s your loved ones who will pay the price.
The most common mistake made by people who are doing estate planning themselves is not considering what happens if an intended beneficiary of an asset passes away before they do. Tax consequences may also be ignored, leaving your loved ones to deal with these impacts after the fact.
By creating backup plans such as additional executors, trustees, or beneficiaries, you give yourself some peace of mind that you have taken necessary steps to proactively plan for every aspect of your estate. Having an attorney create and then do a final review of your estate planning documents gives you the confidence that your estate plan is in line with state specific rules and that it fully reflects all of your assets, concerns, goals, and intentions. Set up a meeting with an estate planning attorney in Pasadena, California to discuss creating your own estate plan as well as your next steps.
