Are DIY Wills Perfectly Acceptable?

There are websites out there selling DIY legal documents. Among their offerings are last will worksheets and downloads. These purveyors of generic template documents would like you to believe that it is simple to plan your own estate.

The truth is that you would do well to steer clear of these notions. You may say that it is easy for estate planners to make this recommendation, but in fact one of the most objective and highly respected entities in the world has made this recommendation.

Last year Consumer Reports magazine asked three prominent legal professors to examine last wills made by their staff members utilizing online tools from DIY legal document websites.

The professors were largely unimpressed with what they saw, and they stated that “unintended consequences” could result from utilization of these online tools.

Consumer Reports expressly stated that these online resources are better than nothing, but that they are certainly no substitute for the expertise of a licensed and experienced estate planning attorney. They recommended obtaining legal assistance rather than utilizing these DIY notions.

Not only is a do-it-yourself last will risky at best, but you have other choices with regard to vehicles of asset transfer. Plus, there additional things to consider such as incapacity planning and the execution of durable powers of attorney.

There is also the matter of the estate tax. Consumer Report stated that there was no way to gain estate tax efficiency using these fill-in-the blanks documents.

To learn more about the dangers of DIY estate planning download our free report on the subject. You can gain access by clicking this link: Is DIY Estate Planning a Good Idea?