Planning your will in Florida allows you the opportunity to make sure things go smoothly for your family members after you pass. An improperly or incorrectly executed will could end up failing to achieve your goal of having your wishes followed.
What Is DIY Estate Planning?
Do-it-yourself or DIY estate planning has become more popular in recent years due to its lower cost. A DIY will is created entirely online by the person who is creating his or her last will and testament. While it might be tempting to go this route, there are several potential dangers of DIY estate planning to be aware of.
The biggest issue with a DIY will is that simple mistakes in wording can lead to major hassles for your family down the road. For example, if you name your children as beneficiaries in your DIY will, you might automatically assume that they’ll outlive you. If you use a DIY planning document and fail to ask yourself several “what if” scenarios such as what if your child or spouse passes before you do, it could lead to much confusion for surviving family members.
Another risk of DIY estate planning is a lack of thorough understanding of how the legal process works upon one’s death or incapacity. The entire purpose of estate planning is to prevent conflict with your family in the future. DIY planning can fail to achieve this purpose and even make matters much worse and more costly for your loved ones. A worst-case scenario is that major mistakes won’t be discovered until it’s too late, and your family will be left to deal with the aftermath.
When Should You Think About Estate Planning?
You’ve worked hard for your possessions, and now is the right time to think about estate planning. For assistance with basic estate planning, consider consulting with an attorney.