DIY Mistakes | Estate Planning In Cary NC
An estate plan is a vital document to have to ensure that what you leave behind goes to the right people. This document will speak for you when you can no longer speak for yourself so it is important that it is done right. You do not want to have an incomplete or incorrect estate plan. If your estate plan is deemed invalid, it will not be executed and your estate will have to go through probate.
Your plan should be well thought-out and include strategies that take into account your needs and any special circumstances you may have. Being able to think of “what if” scenarios will allow you to add contingencies. You will also need to think about tax laws and other regulations that may apply to your situation. It is a lot to take into account, and you do not want to make a mistake. Unfortunately, many people think the “do-it-yourself,” or DIY, approach is the best way.
The number of websites and DIY kits has grown over the years. They offer a one-size-fits-all approach that may not work for everyone. While it may seem appealing to go with something inexpensive that you can do on your own time, saving a few dollars is not worth the risk of having an estate plan that is worthless.
There are several mistakes people make when it comes to DIY estate planning. We’re going to take a look at a few in this series.
- Thinking DIY estate planning in Cary NC is better than nothing.
Many people think a DIY estate plan is better than having nothing at all. However, if the document is not going to hold up legally, then it is like having nothing at all. Your estate may have to go through the probate process anyway, which means what you designated may not be carried out.
- Using a generic form when you have special needs.
Most kits are generic, fill-in-the-blank forms that do not take into consideration any special circumstances you may have. The information is generic so you are not likely to find the answers you need.
Check out part two of this series, soon, where we will outline more mistakes people make when they create estate plans on their own.
If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our lawyer is here to help you get your estate plan in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to estate planning in Cary NC. Contact our office, today, to get started.
Also, remember that our law office offers other legal services for you, as well. Whether it’s entertainment law, family law, small business law and others, we are available to help you through your legal situation. Contact us, today, to make an appointment.
