Do It Yourself Estate Planning
The Dangers of DIY Estate Planning
From home renovations to crafting, the “do-it-yourself” spirit is everywhere. While tackling a project on your own can be empowering and cost-effective, some things are simply too important to leave to chance. Your estate plan—the legal strategy that protects your family and your life’s work—is one of them.
Online services and software templates promise a quick and cheap solution, but they often create more problems than they solve. Here’s why a DIY approach to estate planning can be a costly mistake.
The “One-Size-Fits-All” Trap
Software companies like LegalZoom or Quicken Lawyer rely on generic, boilerplate documents. The problem is that there is no “one-size-fits-all” estate plan. Every family’s situation is unique, with different assets, dynamics, and goals. A boilerplate form cannot account for the specific laws of North Carolina, potential tax-saving strategies, or the need for asset protection for your beneficiaries. What you save in legal fees upfront can be lost many times over in missed opportunities and future complications.
The High Cost of Fixing Mistakes
Even worse than using a template is attempting to write your own will, deed, or power of attorney. Legal documents have strict requirements for how they must be worded, signed, and witnessed to be valid. A simple mistake can render a document completely useless when your family needs it most.
We often consult with families after a DIY plan has failed. In nearly every case, the cost to fix the mistakes—which can involve expensive court proceedings and family lawsuits—is far greater than the cost of having a professional create a proper plan from the start.
A Real-World Example of a DIY Disaster
We recently worked with a family whose well-educated father had created his own trust, deed, and will from a bad online template. After his death, the family could not find the trust document he mentioned in his will, rendering the will ineffective. His daughter then tried to use a “home-made” power of attorney to transfer his property, but the document was not legally sufficient to grant her that power. Because of these failed DIY documents, the family was forced to go through the lengthy and public intestate probate process, exactly as if he had died with no will at all.
Why Professional Guidance is Essential
Today’s families have diverse circumstances that simple, generic documents cannot address, especially when planning for the challenges of aging. An experienced attorney does more than just fill out forms; they provide counsel, strategy, and a customized plan that reflects your unique wishes.
If you or your loved ones need assistance with your estate planning, consider W.G. Alexander & Associates. We are experienced attorneys who offer a unique blend of asset protection and elder law services. Call our office at (919) 256-7000 to schedule a consultation.