WHY WRITING YOUR OWN TRUST OR WILL IS A BAD IDEA
Nov. 14, 2019
Why do it yourself?
Attempting to save money?
Think you can use a form online?
Watching too many episodes of Law & Order?
1. SAVING MONEY. You may save a few bucks now but your heirs will pay large legal bills trying to unravel the mess you left behind. Pay a little now or pay a lot later.
2. ONLINE FORM OR SOFTWARE. Drafting a will is not as easy as it looks. Even if the simple will is drafted well, is It valid? Is it self-proving? If not the witnesses will have to go to court to testify regarding the signing of the will. Is it even signed? Is it consistent with your other documents, like your prenuptial agreement and your insurance policies?
3. TOO MANY TV EPISODES. You are not an estate planning lawyer. Drafting your own will is like doing you own electrical work and hoping you house doesn’t burn down or doing your own plumbing and hoping that you don’t have a flood. Leave a good legacy by hiring an estate planning professional to draft the will or trust that you want and need, and that is valid and leaves your property to the people you love. Consider risk and reward.