Issues and Dangers of a “DIY” Will
Most people start their estate planning process by doing what most people do when they’re wanting to learn about a topic- Google it! Well, if you Google the words “estate planning,” “Last Will” or similar keywords, you may see options for some DIY websites and might be tempted to go that route. It’s cheap and fast- you could have a “complete” estate plan within 30 minutes or less! It’s great to save money, so what could possibly go wrong?
1. Each state is different!
Each state has its own set of laws governing estate planning and probate. In Texas, we have the Texas Estates Code and from that, we know exactly what Texas considers as a “valid will” and standard language to include that will make the probate court hearing go smoothly. Without certain keywords or phrases, it could require some additional documentation to be filed, additional signatures, additional notices, resulting in delays and additional costs to the probate process.
2. The documents are fill in the blank and not tailored to you and your family
DIY documents are designed to be easy, which means the documents will be fill in the blank and as cookie cutter as possible. If you have specific wishes or needs for your family, it would be best to discuss with an attorney to make sure that your estate planning documents are aligned with your wishes.
3. The language is vague
This ties into #2. The forms being used are not based on your situations and it is prompting you for information. Failure to input information correctly could result in your wishes not being understood clearly by your executor and beneficiaries.
4. You risk the documents not being executed properly and requiring additional work during the probate process
One of the biggest issues with doing your will by yourself is that once you’re viewing your final documents, you won’t know if you’re executing your documents correctly. In Texas, wills are required to be signed, signed by two unrelated and disinterested witnesses, and notarized. Failure to follow these instructions may result in the will being invalid or the probate will be more expensive and take more time. At that point, the additional cost in the probate will likely be more than the cost of getting an attorney to draft the will in the first place.
5. You don’t have a skilled attorney to guide you through the process and answer your questions
Your attorney is meant to guide you and answer any questions you may have. Estate planning documents are to be signed by you, so it’s important that you fully understand what you are signing. The documents are full of legal jargon that can be difficult to understand and without the full understanding of the document, your DIY documents, while created with the best intentions, may not reflect what you would’ve wanted.
Overall, having a will (even a DIY one) is better than not having a will. But it’s important to understand the pros and cons before clicking that tempting link.
The information contained in this post is provided for informational purposes only, and should not be construed as offering legal advice, or creating an attorney client relationship.
