Estate Planning Attorneys Outperform Internet Wills
Estate planning
is an essential and critical step in organizing your family’s future. While online vendors may seem like a quick and inexpensive solution to make a will or trust, there are benefits and advantages to seeking the advice of an estate planning attorney.
Legal Validity
The key to validity is meeting the execution requirements, such as signing a will before two disinterested witnesses. If this is done properly, then a will from an online vendor can be valid.
However, execution errors are easy to make when acting without counsel. Working with an estate planning attorney ensures that your documents are validly executed. The attention to detail that an estate planning attorney can provide reduces the likelihood of a contest centered around the document’s execution. Further, attorneys generally include an attesting witness affidavit, signed before a notary public, which burnishes the will’s validity and decreases the need for witness testimony later.
Detail-Oriented Advice
Online vendors often take a “kitchen sink” approach to estate planning. They include hundreds of provisions that may or may not be applicable to a client’s situation. The lack of personal advice often fails to adequately address the nuances of a client’s family dynamics, financial situation, and testamentary intent. Online vendors are generally not able to discern what specific type of estate plan would best suit a client’s needs. Further, they often do not give state-specific advice about estate planning and asset protection strategies and taxes, which can vary widely by jurisdiction.
Peace of Mind
When your estate plan lacks professional oversight, significant issues can be overlooked. An estate plan needs to work effectively in the event of death or disability, and at those critical moments it’s too late to correct or make a change. Working with an attorney with a proven track record of handling estate planning matters as well as estate administration can give you the peace of mind that your estate plan will be valid, effective, and reflective of your wishes in the long term.
Updates
Sometimes the law changes. An online vendor is likely not going to contact you if your state’s estate tax exemption has shifted or if the Medicaid look-back period has changed, and explain what impact this may have on your estate plan. An attorney can provide this important context and update your estate plan as needed.
While an online vendor may be a convenient and inexpensive way to plan your estate, it does not allow for a tailored or personalized estate plan. Protect your family’s future by hiring a trusted legal professional who can provide you with detailed advice and estate planning tools.
This is not intended to be legal advice. You should contact an attorney for advice regarding your specific situation.
Rachel Rosenwasser is an associate and practices estate planning and real estate law. She can be reached by phone at 845-764-9656 and by email.