Four Flaws of ‘Do-it-Yourself’ Wills

Estate planning is the process of creating a plan to manage your wealth and distributing it after your death. A well-drafted estate plan assures that your family won't have to endure the costly probate process.

Estate planning needs professional guidance in ensuring that your wishes be carried out. Minor negligence or tiny mistakes may change the meaning and outcomes of what you want your plan to say. Some families save their time and money by relying on "do-it-yourself" will kits. It may save time and money, but this method does have flaws.

Some flaws of DIY estate planning forms include:

1. Vague Terminology

Specific language is used in legal documents. The terminology of legal terms is very specific and can be quite confusing. DIY will kits and forms often lack such terminology and use ambiguous terms for multiple purposes. A generally used term may have a specific meaning in legal language. So, you should select words properly to make all things clear.

Such ambiguities, along with causing problems with the legality of a will, result in unclear language and instructions. These types of  situations can ultimately lead to a will contest. The testator should be able to fully understand what it is that they are drafting.

DIY wills may lead to misinterpreted instructions and inaccurate documentation. Additionally, the testator may not accurately reflect their true wishes in a misinterpreted document.

2. Will Laws Are State Specific

Trust and estate laws are state-specific, varying significantly from state to state. When creating a will, don't forget to consider the laws of the state in which a person resides. Some states require a specific number of witnesses to be present when signing the documents.

For example, Illinois law requires the presence of two competent witnesses that are not beneficiaries under the will. The will must be signed in presence of those witnesses. Using DIY will kits may not provide you with proper state-specific laws and instructions.  In certain states, a living trust may be more appropriate and offer unique advantages.

3. Less Planning Options

Another drawback of using a DIY will kit is that it doesn't necessarily explore estate planning options to meet a family's specific needs. As do-it-yourself will's are typically generic, they fail to cover every area of your family’s needs.

These instances may involve children with special needs, one who receives veterans benefits, or one who has medicaid benefits among additional considerations. Most generic forms fail to account for specific instances such as these.

4. Improper Distributions

A wrongly drafted will may fail to dispose of the testator's entire estate. It may even refer to assets that shouldn't be included in the will such as a retirement account with a named beneficiary. Such errors may result in a will contest or can prolong the probate process.

Key Takeaways

There is no doubt that a DIY will form or kit can save time and money but it can cause issues down the road. The probate process has the potential to also become confusing and prolonged. Hiring an estate planning attorney helps you get sound advice on tools and documents to meet your family's planning needs.

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