There are websites that sell generic, boilerplate legal documents, including DIY wills. Their marketing material makes it sound like it is easy for anyone to plan their own estate using DIY tools that can be purchased online.
Since so many people put estate planning on the back burner, this can sound like a simple solution, but this is actually a shortsighted perspective. In this post, we will look at four reasons why you should probably steer clear of do-it-yourself estate planning notions.
Procrastination
If you fill in the blanks on a boilerplate document and tuck it away somewhere with the idea that the task has been completed, you may be making a mistake. For example, in order for a will to be valid in Connecticut, you have to sign it in front of two witnesses, and they must also sign the document in front of you.
There are those that will fill out the forms with the intention of engaging witnesses at some point in the future, and the cycle of procrastination begins once again.
In addition to the above, there is the “I’ll do it later” syndrome. Some people will have a nagging feeling that they should put a plan in place, and they see that they can buy a generic will online.
They stop thinking about it, because they have decided that this is what they will do when they get around to it. Unfortunately, many of them never actually take action, and their loved ones pay the price.
Estate Administration Difficulties
After you pass away, there are administrative tasks that must be completed before your loved ones can receive their inheritances. If you create a will using a download or worksheet that you obtained online, you could name an executor or personal representative in the document. This is the person that would complete the hands-on administration tasks.
Do you know anyone is qualified to act as the executor? Do you have any understanding of the expectations of the probate court? Are you aware of the value of a self-proving will?
There are costs that accumulate during send us a message to request a consultation at our Glastonbury or Westport, CT estate planning offices, and we can be reached by phone at 860-548-1000.
Mr. Nirenstein is licensed to practice before the courts of the State of Connecticut and the United States District Court. He is a member of the Connecticut and Hartford County Bar Associations, and the Estate and Probate, Elder Law, Business Law and Real Estate Sections of the Connecticut Bar Association.
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