Too many people think the ‘do-it-yourself’ (or DIY) Will is the way to go. They think they will be saving money. They think “how hard could it be?” What most people don’t think about is, “what if you get wrong?” Would you even know if you were doing it wrong- you wouldn’t. The scary answer is, you wont know until a lawyer reviews it. if your self-executed Will to lawyer then you can get a professional opinion (the will be to have a lawyer do it-because of estate litigation issue that can arise, the best defense is having had a lawyer draft and supervise the execution- look out for an estate litigation article on this topic).
So now your nominated executor (if you nominated one as necessary in your DIY Will) your self-executed, do-it-yourself Will goes to Court to probate it and finds out that it may not be good. What now?
What if your kids don’t end up with the people you want them to? What if that deadbeat brother of yours gets a sizable inheritance because you didn’t disclaim him correctly? And what happens if you child has a debtor that comes to take their inheritance because you didn’t protect it properly.
These are issues that are easily avoidable but that unfortunately arise ever single day. There is simply too much at stake and risk of irreparable harm is too high to risk not have a professional involved in your estate planning process.
Estate planning and Will drafting is undertaken with an eye toward protecting the end product from unforeseen issues. The laws and rules surrounding Wills, are not unforeseen to those experienced in the field.
Our office has handled many DIY Wills that did not ultimately carry out the decedent’s wishes.
Doing you own documents may be cheaper in the short terms but may cost you and your family significant time, effort and money in the future. For a free telephone consultation, please call our office at (718) 838-3334.Read More