Having a DIY attitude can help you save money on some things, but sometimes doing it yourself can be problematic, especially when it comes to important matters. If you broke your arm, you would not try to reset the bone yourself. You would go to a doctor who went to school to learn how to properly take care of injuries. The same applies to working with an estate planning attorney in Cary NC. They went to school and became licensed in the field so that they can properly take care of legal issues.
In this two-part series we are looking at mistakes people make when they go the DIY route.
Common DIY Mistakes | Estate Planning Attorney in Cary NC
As we mentioned before, the one-size-fits-all approach that many websites and DIY kits offer you may not fit your situation. It can keep your estate plan from being the most accurate and legally valid document it should be. Your estate plan should reflect how you want your assets distributed, and it should be done in the most effective way in order to make the process easy for your family.
Here are four more mistakes people tend to make when they create their own estate plans.
- Not factoring in all situations.
Families are not always traditional with two parents and a set of children, so planning out how assets will be distributed can be tricky, especially if there are stepchildren, elderly parents or other family members you want to name as beneficiaries. You may need help determining how to best distribute the assets based on what they are capable of managing.
- Forgetting to fund a trust.
If you have set up a trust, you will need to fund it. It does not exist until it holds assets. If it is a revocable trust, you will need to rename the titles to the heir or heirs you have designated. If a trust is not funded, then your estate could be subject to probate, which is something you were probably trying to avoid by creating an estate plan to being with.
An estate planning attorney in Cary NC who has worked in estate planning can help you craft a comprehensive estate plan that meets your needs. He or she will know the right questions to ask to access your situation, which probably involves more than the generic solution a DIY kit or web site will provide. Please contact our office to get started.
If you missed our previous blog post, be sure to visit back with it, here. Also, consider calling our estate planning attorney in Cary NC whenever you need help with drafting an estate plan. We are here to help.
Eldreth Law Firm, PLLC
As always, feel free to contact us with any questions or concerns you may have about estate planning. Also contact our estate planning attorney in Cary NC to schedule a consultation if you have yet to start estate planning. It's never too early to make plans for your wishes upon death. In addition, we are here to help you with all your legal matters, whether it be divorce, child custody, trademarking, copyrighting, or DWI issues.