We’ve discussed the ins and outs of writing your own DIY Will. (If you missed that post, click here!) Now, let’s discuss some reasons you may want to enlist an experienced estate planning firm to help you write your Will instead of going it alone.
1. The Risk of Underestimating the Complexity of the Law May Fail to Protect Your Wishes
Every state has its own set of rules about what constitutes a valid Will. From the number of witnesses required to how your Will must be signed, these legal requirements are complicated and easy to overlook when you create a DIY Will. You believe your wishes are secure, but they might not be legally recognized because you unknowingly made a Will that won’t hold up in court.
2. The Risk of Overlooking Small Details Can Derail Your Will
The wording of legal documents must be crystal clear, and nowhere is this more valid than in your Will. A misplaced word or an ambiguous phrase can open the door to disputes among your heirs, which could lead to lengthy and costly legal battles for them—precisely the situation you’re trying to avoid by creating a Will in the first place! Your loved ones will already be grieving; an unclear DIY Will can make that time harder than it needs to be.
3. The Risk of Lengthy and Costly Probate Can Lead to Unexpected Complications for Your Loved Ones
Probate is the court-supervised process of settling someone’s final financial affairs. If probate is needed—and it often is—one of your loved ones will be responsible for identifying and securing your assets. They will have to pay bills, distribute inheritance, and file annual accountings. An unclear or incomplete DIY Will will make the whole process longer, harder, and more expensive. Estate planning law firms aim to streamline this process, ensuring your assets get distributed efficiently and according to your wishes.
4. The Risk of Mishandling Special Situations Without Professional Guidance Can Jeopardize What You’ve Worked So Hard For
A DIY Will cannot handle complicated financial situations, such as complex family dynamics, businesses, or multiple properties in different places. Also, digital assets and intellectual property require specialized knowledge to keep them safe and in the hands of the ones you love. There are legal requirements for these situations that, if overlooked, can jeopardize the future of the assets you’ve worked so hard to build.
5. The Risk of Leaving Your Estate Vulnerable to Disputes and Challenges
It’s easy for people to suspect foul play when it comes to writing your own Will. You may know your Will is free from undue influence or fraud, but there aren’t many ways to prove it. This can lead to lengthy, expensive legal challenges, which drain your estate resources and create rifts within families, undermining the very purpose of your Will.
6. The Risk of a Static Document in a Constantly Changing Life May Not Do What You Think It Will
Laws change, and so do personal circumstances. If you don’t regularly review and update your Will, it can quickly become outdated, failing to reflect both current legal standards and your evolving wishes. Professional estate planning with a law firm you trust provides flexibility and foresight to ensure that your Will changes with you so it can remain legally legitimate and reflective of your current situation.
7. The Risk of Incomplete Planning Can Jeopardize Your Future and Your Legacy
A comprehensive estate plan serves you now AND later. It can help with tax planning, healthcare instructions, powers of attorney, and directing the inheritance of your assets. Writing your own Will doesn’t often account for these things, making your later years a nightmare if your wishes aren’t respected and your goals aren’t legally protected.
What now?
We know that writing your own Will appears simple and cost-effective on the front end (and sometimes it is!), but often, there is just too much left to chance. Choosing to partner with a thoughtful estate planning attorney with a proven process can ensure the legality of your Will and its ability to capture and execute your wishes fully. This partnership offers peace of mind, knowing your legacy is crafted with care and your loved ones are protected.
Navigating the complexities of estate planning is a journey best undertaken with professional guidance. Contact Promise Law today at 757-298-7886, or watch our on-demand workshop, 7 Hazards to Your Estate Plan, and receive a free consultation with an attorney when you finish it. (A $600 value!) The stakes are too high to do it yourself when it comes to your legacy. Life happens. Plan on it.™
