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Should You Write Your Own Will?
 

 

 

Maybe you’ve seen those will-in-a-box kits down at your local office supply store. Maybe you’ve even considered picking one up. Think twice about that.

 

Do-it-yourself is cheaper, but you could do some things wrong.

 

While it is possible to draft a will on your own, it’s not usually advisable. Most people do it to save money, but they may overlook or forget to take care of some important details – details that may eventually cost them or their loved ones much more (financially or emotionally) than the amount they could save. Some of the big mistakes include …

 

Ignoring state law differences.
Many will kits and online wills don’t take state laws regarding the administration of probate or trusts into account. Should necessary language be left out, it probably would result in your estate being distributed in a manner inconsistent with your wishes.  A good estate planning attorney will include all of the language necessary to carry out your wishes; a will kit or website may not.

 

Blind faith in software.
While software or an online form can help you draft a will, there’s no guarantee that the technology will ask you the specific, unique questions an attorney might pose in regard to the fine points of your estate. It probably won’t even make you aware of them.

 

Not revoking an earlier will.
Most wills contain boilerplate language that automatically revokes any preceding will. If you are writing your will totally on your own (some people still do), you may not realize the necessity of such a clause.

 

Assumptions.
If you will property to an heir, what happens if you outlive that heir? A competent professional will ask questions to prompt you to outline these scenarios as well as others. Most people writing a will DON’T think about them.

 

Vagueness.
Sometimes executors aren’t given sufficient power by the language of a will. Sometimes a home will be left to a spouse in trust, but with no one assigned to pay for upkeep of the home during the rest of that widow’s lifetime. Alternate executors are sometimes omitted from wills.

 

In other situations, names of non-profit groups can easily be misstated or misspelled, inviting complication and possible dispute of charitable intent.

 

Conclusion

 

The appropriate administration and distribution of your estate is too important to leave to chance, so be wise and recruit the help of a qualified attorney.  If you don’t know where to turn, call my office or ask your CPA for a referral.

 

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