Everyone likes to save money. There’s nothing wrong with that in a lot of cases. However, there are some areas where you have to be extremely careful about cutting corners. Estate planning is one of those areas. Let’s look at some of the potential problems that can happen with DIY estate planning.
DIY Estate Planning Problems
Could you try to create your own will and estate plan? Although it might be technically possible, it is rarely a good idea to attempt this. You aren’t a legal expert, and you don’t know all of the ins and outs of the law in Illinois. Trying to write legal documents can end up creating a lot of problems for those you leave behind after you pass away.
Your loved ones will have to try to prove to the court that the will was executed properly and legally. This can be very difficult to do, especially in cases where the regulations were not followed.
Since you aren’t an expert in estate planning, you probably don’t know what to expect when it comes to tax planning either. You might save a bit of money on the cost of an attorney and then your family could lose a substantial amount because you didn’t properly consider how taxes will work with your estate. Ultimately, the DIY estate planning could end up costing you more than working with experienced attorneys.
Benefits of Choosing Estate Planning Attorneys
When you choose to hire an actual estate planning attorney, you can rest easy. They know and understand the law and how it will apply to your estate and what you want to do. They can help you to set up your will, trusts, and more, so that you are in control over what happens with your estate in the event of your death.
The attorney also ensures that everything is legal and binding, which helps to reduce potential issues from cropping up after you have passed away. Your loved ones will already be dealing with grief from your death. You don’t always want them to have to try to untangle a DIY estate plan that is just going to cause them more headaches in the midst of their healing.
Your best option is to speak to the attornies at Bell & Shah as soon as possible. We can help you with a set up your plan, sooner rather than later.