Issues That Arise With DIY Estate Planning

There may be some small allure in dividing up your worldly possessions among your loved ones, but for many, the worst part of estate planning is actually doing it. You have to leave the house and go talk to a lawyer for a few hours. Even if your lawyer is a great person, it is still not a very fun way to spend your time. Instead, there are some that may choose a few DIY maneuvers for estate planning.

Some may choose to write a handwritten will, which is actually fine because Texas law recognizes the validity of handwritten wills. However, others may search the internet and end up on websites or various digital software products that promise to set up wills and trusts for them. While some of these products may do just that, often the biggest issue that comes with DIY estate planning products is when it comes to having the documents properly witnessed and executed.

A proper type-written Will requires two independent witnesses.  Without their signatures, the Will does not meet the requirements of Texas law to be valid and will be subject to being challenged by a member of your family. This can be done if one of the beneficiaries isn’t exactly happy with the amount they are getting. By claiming the Will invalid, they may stand to inherit more without it in place.

Furthermore, when you choose to DIY a trust yourself, the issue you run into is the lack of guidance. Trust law and administration is by no means easy to do, and often the complicated nature can lead to errors if done incorrectly. Without guidance in managing and funding the trust properly, that whole trust may be ravaged by penalties or end up distributing very little after your death.

Are you ready to start planning your estate to provide for your family? Contact us today. It may be easier just to try and do it yourself but by spending the time to contact an attorney, you can make sure it is done right the first time.