Why You Should Consider Hiring an Estate Planning Professional for Your Will

 Posted on April 04,2019 in Estate Planning

Nearly 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.

Peace of Mind May Be the Best Benefit of Working with a Professional

Estate planning requires you to face your own mortality, which can be tremendously difficult. Perhaps it is for this reason that only about 40 percent of Americans currently have a will. However, when you create plans for how your assets and debt should be divided upon your death, you save your surviving family members a great amount of work. Creating an advance directive or living will can also spare your family from having to guess what types of medical intervention you would want and what you would not want. This too saves your loved ones a great deal of work during a time which will already be deeply emotional for them.

Lastly, estate plans which are sloppily created or do not take into account state requirements may not hold up in court when the times comes. For many people, having estate planning documents in place which they know are accurate and legally sound gives them peace of mind that a DIY or online estate plan never could.

Contact a Lombard Estate Planning Attorney

If you would like to learn more about how a DuPage County estate planning lawyer can help you plan for the future, call A. Traub & Associates at 630-426-0196 today. Our team is ready to assist you in providing your family the security and peace of mind they deserve.

Sources:

https://www.forbes.com/sites/nextavenue/2019/03/29/the-problems-with-do-it-yourself-online-wills/

https://www.aarp.org/money/investing/info-2017/half-of-adults-do-not-have-wills.html