As more people become interested in drafting estate plans—recognizing the inherent benefits to planning ahead—they wonder whether they can do it themselves. This approach—called DIY estate planning—is when people utilize websites and books to draft their own Houston estate plan. While this may appear to be a more cost-effective and quicker solution, there are major drawbacks to DIY estate plans that Texans might not realize at first. Below are some aspects to consider when deciding whether to draft a DIY estate plan or to work with a knowledgeable estate planning attorney throughout the process.
Why an Estate Plan is Not So “Simple”
Many individuals starting the estate planning process assume it will be simple: they only need a basic will, detailing who will receive their assets and belongings when they pass away. However, it is rarely that easy. Websites may be effective for filling out a generic form, but then people do not know what else, if anything, should be included in the estate plan. Not only are most Texans unaware of the other critical aspects of an estate plan—such as tax planning, financial planning, and senior care—but they assume a will can be a page or two long without getting into the details. Estate planning attorneys go beyond creating a will: they help people create healthcare documents—so doctors know what to do with end-of-life care—and financial planning documents so loved ones are secure in their future finances. This goes above what a DIY website can provide.