DIY Wills: Money-Saving or Disaster-Making?
At first glance, it’s an easy decision: $300 an hour lawyer versus $100 DIY will kit? Most people
would opt for the money-saving option. The issue, however, is will these documents actually
hold up when they go to probate court? For most consumers the answer is no.
For some, a DIY kit works just fine—unfortunately, this applies to a very small percentage of the
population. For the remainder, their complex estate issues are unaddressed in a DIY estate
plan, which means their assets are at risk.
Divorce and Remarriages
DIY kits will rarely address complex issues such as divorce and getting remarried. Since they do
not ask this question, or even discuss dividing assets between a split family, you could leave
your estate open to a serious probate issue.
DIY estate plans do not plan for children in incapacitation situations, and the language in these
plans tends to be confusing: In some instances, parents have accidentally disinherited their
children just by misunderstanding the language in their own plans.
DIY wills do not understand the complexity regarding live-in significant others. Gay and lesbian
partners are not provided for in the way the individual intends. This type of complex living
situation requires the guidance of a skilled estate planning attorney.
Experienced estate planning attorneys Brooklyn NY of the Minko Law Office offers estate
planning and business planning resources to residents of Brooklyn NY. To learn more about
these free resources, please visit www.minkolaw.com/ today.