Can I do an estate plan on my own?

It is not unusual to question whether an attorney is needed to prepare an estate plan. After all, the documents simply reflect one’s life circumstances and wishes and retaining an attorney entails additional cost.

Sometimes, one can prepare simple documents without the assistance of an attorney.  If the estate does not include any real property or significant assets, or if the family situation is relatively uncomplicated, a self-made simple last will could suffice, if it is correctly drafted and executed. Additionally, very basic powers of attorney for health and financial matters can be found online.

But when the estate involves significant assets or a business, when the family situation is complex due to previous relationships or separate children, or when there are special considerations to be addressed, such as a minor beneficiary, a beneficiary with special needs, or a financially irresponsible beneficiary, it is recommended to use the services of an estate planning attorney as a skilled professional can ensure that the documents are accurate, enforceable, and achieve one’s goals.

It might be tempting to use online legal services to prepare an estate plan. The internet can offer a cheaper solution to hiring an attorney. The available technology allows individuals to create their own documents via online platforms. Various websites offer estate planning services that are designed to make the process of creating the essential documents simple and, importantly, affordable. The benefits of this option include the ease of use, inexpensive cost, and convenience of doing it all from the comfort of one’s own home.

However, there are many disadvantages to preparing an estate plan on your own. Very importantly, online estate planning platforms typically offer only basic, non-specific templates typically reduced to filling in one’s personal information. Meanwhile, the estate planning process is often complex and requires customization and personalization to meet the specific circumstances of each person and family. Additionally, the online platforms may not always offer documents that reflect the current laws and state-specific rules. Lastly, online legal services often include disclaimers that the service provider is not serving as an attorney and does not review the documents for accuracy. Consequently, there is no assistance with the proper execution and recording of the documents and no advice regarding possible future issues. Overall, this can result in the creation of an estate plan that is not legally valid.

On the other hand, an estate planning attorney can prepare a legally binding and person-specific estate plan. This is crucial, as an invalid will or trust will not offer the peace of mind needed when securing the future of one’s family and estate. An estate planning attorney can explain the complex and state-specific legal issues, allowing the client to understand the law and circumstances in order to make informed decisions regarding the distribution of one’s estate and the protections afforded and necessary for one’s family. Additionally, an estate planning attorney can continue to work with the client over time, sometimes for years, as an estate plan may require regular updates and revisions to accommodate changing laws and one’s life circumstances. 

An attorney’s services might not be needed to prepare a very basic and simple estate plan; but preparing estate planning documents without the benefit of legal counsel may undermine the entire purpose of the estate plan and produce unintended, and often costly to correct, consequences in the future. Consequently, thorough research and consideration of one’s needs is the best approach to making an informed decision whether to draft one’s own documents or engage an estate planning attorney.