With the guides and resources available to us through the internet, it’s no wonder individuals are more hands-on than ever before. “Do it Yourself” (DIY) projects such as refreshing your home’s paint or building a cabinet save you money and can be cathartic experiences. Unfortunately, the same can’t be said for DIY estate planning. For many families, estate planning isn’t a top priority. However, when it comes time to get your estate in order, it can be tempting to do so yourself without the assistance of estate planning professionals. Brave Law Center is here to tell you that DIY estate planning can lead to disastrous results! Before you begin doing so yourself, here’s what you risk when you don’t allow attorneys to handle your estate planning:
There’s so much we can learn to do by exploring online resources. However, just because something is available on the internet doesn’t make it correct or accurate. For example, estate planning is specific to the state it is in. However, most online resources for estate planning only include generic templates, not conformed to Illinois law. If you choose to move forward with a generic estate planning template, your estate plan might be invalid to the state.
Generic estate planning templates shouldn’t be your only concern when searching for estate planning resources online. Most DIY estate planning guides try to cover what you need to know for basic estate planning. In truth, your estate plan is anything but basic. Following a basic guide can lead to missing documents and significant gaps in your estate planning. An attorney can help you include everything necessary to create a comprehensive estate plan.
Mistakes can be made no matter how particular you are with your DIY estate planning. Moreover, those mistakes can go unresolved if you don’t have an estate planning attorney look over your work. Now fast forward to when that estate plan is put into action. Errors in your documents can quickly invalidate your estate plan and cause significant issues for the surviving members of your family.
The entire purpose of DIY estate planning is to avoid hiring an attorney. And while Brave Law understands the desire to save money where you can, you risk spending more without an attorney’s guidance. If your estate plan’s legitimacy is questioned, you might require further litigation to help resolve it. The result is you still pay attorney fees, which can become more costly than standard estate planning. Not to mention, the emotional toll litigation on your estate can take on your family can be challenging to endure.
Unfortunately, not every family is on good terms. Furthermore, there are few other times where familial divisions become more apparent than after a death in the family. Ideally, your loved one’s estate is well prepared, and an executor can faithfully distribute assets according to the deceased’s wishes. However, if legal documentation is not prepared correctly, disgruntled family members can easily contest or dispute how an estate is divided.
Although plenty of DIY estate planning guides are available, it can still be challenging to understand the intricacies of estate planning. Without spending the time to research what’s necessary for writing wills, trusts, power of attorney, etc., you risk making mistakes. And as we’ve already discussed, an invalid estate plan can be costly to resolve. Thankfully, professional estate planning attorneys in Peoria IL understand how to develop a complete estate plan. We already possess the skills and knowledge needed to guide you through the estate planning process.
At Brave Law Center, we have extensive experience managing clients’ estates throughout Central Illinois. Our mission is to create complete, sound and easy-to-understand wills, trusts, and additional official documentation for families and individuals alike. So you don’t accidentally get caught up in the consequences of DIY estate planning, allow Brave Law Center to lend you a hand.
Or, if you’re interested in Brave Law’s other legal practices, such as family law, criminal defense, and real estate law, contact us at 309-685-7900. Also, we are located at 330 NE Perry Ave, Peoria, IL 61603.
330 NE Perry Ave., Peoria IL 61603
120 S Main St., Eureka, IL 61530
156 N Adams St., Lewistown, IL 61542