Though do-it-yourself estate planning seems like a viable option for saving money, it is often one of the things that are worth investing in.
Here are three reasons to pay a professional to handle your estate planning rather than attempting a DIY.
1. DIY tools do not inform you of changes in the law
What is true at the time you put your will in place can change based on new state laws and policies. While a professional can contact you to let you know of the changes and how they could impact your estate, a tool that you paid a one-time fee to will not.
2. DIY tools do not explain the complexities of estate taxes
Estate taxes vary by state and the number of assets owned. It may not seem clear to you how taxes will impact your property and assets upon your death from just a DIY estate planning template. Especially if you own considerable assets, it is important to consult with a professional who can assist you in minimizing the taxes your heirs will pay.
3. DIY tools could allow you to make grave errors
While DIY estate planning may work well for some individuals with straightforward needs, for those with complex matters such as providing care for family members with special needs, working with someone with experience in such matters is typically wise. You could negatively impact the care of your loved ones in addition to their inheritances.
Since DIY estate planning tools are made for a one-size-fits-all approach, you could likely benefit from professional estate planning assistance.