The Downside of DIY Wills
Don't Discount YourWill. A self-created last will and testament may lead to problems.
As an early step in estate planning, you may be tempted to write your own will. There are some good reasons why you shouldn't.
While do it yourself wills may be cost effec-tive and make the process of will creation relatively simple, they also have shortcomings.
DIY wills tend toward the basic and generic. The more complex your estate, the more their templates and language may prove insufficient. They are written to comply with laws in all 50 states, but not necessarily
laws specific to your state. Estate tax law, itself, can
vary widely from state to state. (A person who owns
homes or rental property in multiple states, for example,
may be poorly served by a DIY will.)1
Their fine print warns you not to fully trust them. Typically, they contain a disclaimer that tells you to
consult an attorney, stating that the information they
present to you does not represent legal advice.
Write or revise your will with the help of estate
planning professionals. The ex pense is worth it,
especially if your estate is not small.
1TheBalance.com, "Should You Write Your Own Will?"
(May 8, 2017)
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The opinions voiced in this material are for
general information only and are not intended
to provide specific advice or recommendations
for any individual. This information is not intended
to be a substitute for individualized
legal advice. Please consult your legal advisor regarding your specific situation.
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