Congratulations! You’ve decided to protect the future of your loved ones and write a will or trust. Now, you need to make one more important decision:
1. Should you DIY your will or trust?
2. Should you hire an estate planning attorney?
There are many pros and cons to hiring an estate planning attorney or deciding to DIY it.
Everyone assumes that of course, it’s cheaper to DIY a will. And in many cases, that is true in regards to upfront costs. Many online DIY will sites have a one-time fee. But additional costs can accumulate if you need to store your will online for many years, you want to make changes to the will in the future or if you have a complicated estate and you need to hire the site’s attorney to review your DIY will. More importantly, if the DIY will does not follow the applicable state laws then the cost will skyrocket as your family will need to go to Probate Court.
An estate planning attorney can save you money in the long run by providing you the information you need to create the right estate plan that fits your needs – and not a generic template.
The convenience of going online to create your will at any time of day, on any day, can’t be minimized. We all have busy lives and convenience is a major benefit to everything we do.
One benefit of the global pandemic is that estate planning has evolved. Today, most estate planning attorneys offer virtual services so they can work with you from anywhere, at any time of day. You no longer have to visit their office to execute a will or have important legal documents signed.
Most DIY will sites work with attorney consultants to make sure that a will is legally enforceable. Some even allow you to hire an attorney to review your will – at an additional cost. More often than not these sites can offer this because the will is a template. Any deviation that you may want will not be accounted for within a template will.
An experienced local estate planning attorney will know the most recent state probate laws and how they impact people in your situation. Your estate planning can be adapted to your actual desires. An estate planning attorney will make sure your will and estate plan are valid and legally enforceable.
A DIY estate plan is a good start to protect the future of your family. But a standardized template cannot address the complexity of people’s lives and individual circumstances. The professional guidance of an experienced estate planning attorney can protect your family – and your assets.
Estate planning is preparing for the future. Contact the Estate & Probate Legal Group in DuPage County, Illinois, today at 630-800-0112.