Share Your Experience

five star review
X
Blog
Lombard Office
630-426-0196
Wheaton Office
630-426-0196
Text Us Now
630-426-0196
Subscribe to this list via RSS Blog posts tagged in DIY estate planning

Lombard estate planning attorneysNearly everyone appreciates saving money on a good deal. However, when it comes to do-it-yourself estate planning, not every “good deal” is as good as it appears. Online estate planning services are more prevalent than ever, but many legal professionals worry that some of these websites are not being honest about how beneficial their services really are. Read on to learn about the pros and cons of DIY wills as well as how you can ensure that your estate planning documents will be legally binding.

DIY Wills Are Not Personalized to Your Unique Needs

One of the biggest differences between DIY or online estate planning services is that these programs are almost always one-size-fits-all solutions. Because these services have to work for a wide range of individuals, there is very little personalization to the plans. If you have complex assets, a blended family, a second marriage, or other unique circumstances, you are not likely to have these specific needs addressed by an impersonal website. Some of these online programs do offer personal advice from professionals, but this is often an additional service which costs quite a bit more.

It Can Be Hard to Know Which Estate Planning Documents You Need  

Most estate planning attorneys suggest that individuals have a will and/or trust, power of attorney for financial decisions, and an advance health care directive or living will. However, each individual has unique needs that may not be met by the most common estate planning documents. A licensed attorney can help you figure out which documents you need in order to meet you and your family’s needs. Furthermore, working with a professional means that he or she is considering the tax implications of your decisions and can help you choose the course of action which decreases financial loss to taxes as much as possible.

...

Lombard estate planning attorneyMany people realize at some point in their lives that they need to start planning for a time when they are not around. It could be the addition of a new baby in the family, retirement, or a medical crisis that spurs a person’s interest in estate planning. For those seeking the cheapest estate planning process possible, using online legal document services may seem like a good idea. Although some do use these types of products with success, relying on an online service to plan your final affairs can be a risky move.

Do Not Be Fooled By a Professional-Appearing Website

Online legal document services may appear to offer the same benefits as a law firm, but they do not. These types of services do not hire attorneys, but instead “document assistants”—individuals who do not have nearly the extensive education and training an attorney has. A document assistant cannot help you choose the best legal option for your unique estate circumstances or warn you if you are making a grave mistake while creating your plans. Because the people involved in these online service websites are not lawyers, they cannot give you legal advice of any kind. In fact, the websites cannot even promise that legal documents drafted though the service will be valid or that there will be a usable result from the time, effort, or money spent on these online services.

...

Lombard estate planning lawyerIn today’s world, you can Google a “how-to” on nearly anything. Want to build a playhouse for your children? There are YouTube videos to show you how. Trying to become a better writer? A quick search can offer you thousands of workbooks, prompts, and exercises. Need a will or a power of attorney document? Countless resources are available to help you skip the “hassle” of hiring an estate planning lawyer. Unfortunately, a do-it-yourself estate plan is rarely a good idea, as even a small mistake can have significant consequences.

Retaining an estate planning attorney may seem unnecessary, especially as you draft your documents. At the very least, however, you should have a lawyer review your will and any other documents before you sign them to ensure that you do not become a victim of:

Selecting the Wrong People

...
Illinois State Bar Association DuPage County Bar Association Northwest Suburban Bar Association American Inns of Court DuPage Association of Woman Lawyers National Association of Woman Business Owners Illinois Association Criminal Defense Lawyers DuPage County Criminal Defense Lawyers Association
Back to Top