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The Dangers of Do-It-Yourself Estate Planning: Part 2

By January 23, 2012Estate Planning

This is part two of a continued article.  See yesterday's blog posting for the first half of this article.

Looking for Legal Advice with Your Documents? Look Elsewhere...

Did you realize that companies that provide these DIY legal documents are not allowed to give legal advice? Not only can they not give advice, but they can not recommend what documents you should create for your personal needs. They can merely provide you with generic standardized forms and leave you to try and decipher the rest.

Generally, a great deal of assistance is needed throughout the process of creating legally binding documents. Having no legal advice available to you while you try to create these complex plans is like navigating a minefield with your eyes closed. Whichever direction you're going, the odds of success are slim and the consequences can be tragic.

Would You Skydive With a Faulty Parachute?

The parachute is a skydiver's most important piece of equipment. Any skydiver ensures that their parachute is packed properly with the right expertise so that it will deploy correctly. A parachute that is packaged even slightly wrong will tangle when released, causing the parachute to become useless. You wouldn't jump out of an airplane without knowing your parachute was packed by a professional, so why would you create estate planning documents without the same care and concern?

It All Comes Down to This...

There are a hundred reasons why do-it-yourself legal documents are insufficient and put you, your estate and your loved ones at risk. In fact, there is only one reason to create a DIY estate plan - to save a bit of money up front. However, as was mentioned, saving some money up front by creating a DIY estate plan can cost you many times more in the long run by not having the right documents, faulty verbiage and creation, invalid forms, no legal direction and much more.

Don't go skydiving without a parachute, and don't plan your estate without an attorney that specializes in estate planning and is a member of the American Academy of Estate Planning Attorneys (AAEPA). Morris Hall has focused their practice on estate planning for 40 years, is a member of the AAEPA and can ensure you have the proper documents and the correct protections and advantages in your planning.

It comes down to peace of mind for you and your loved ones. Do-it-yourself planning can't provide you with that...but we can.

Call 888.222.1328 or visit Morristrust.com to schedule a free consultation with one of our highly qualified estate planning attorneys.

About Morris Hall:

The attorneys at Morris Hall have 100's of years of combined experience ensuring that families' assets are protected from probate, unnecessary taxes, creditors, ex-spouses and Medicaid spend-down. The attorneys also help those in Arizona and New Mexico to apply for and receive Medicaid assistance and Veterans Benefits. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Tucson, Prescott, Flagstaff and Arrowhead. Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe. Contact us today at 888.222.1328 to schedule an appointment!

This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.

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