Do It Yourself Will Problems

Is writing your own will a good idea? Sure, you can save money by doing it yourself. But, the better question is, is it worth it to save money by not working with a skilled estate planning attorney to create your will? Yes, do it yourself wills may seem like a good idea. But, before you rush out and write your own will, take some time to read this article. Learn some of the do it yourself will problems that may occur. And, you just may change your mind.

You see, filling out a will in a correct manner is a legally enforceable act. Your will determines who shall inherit your assets and properties once you pass away. Your will specifies an executor who is accountable for carrying out your instructions. Aside from the distribution of your assets, the executor is also responsible for providing public notice of your passing, settling your final taxes, and registering your will in probate court.

Your minor children or other dependents will be taken care of by your named guardian(s) in case of need.

Many online options exist for creating a Do It Yourself (DIY) will. However, what seems a straightforward process can be fraught with costly errors that will fall to your beneficiaries and devalue your estate. DIY wills can be a reasonable choice in some limited circumstances, but they require careful research to understand state-dependent laws to get things right.

Drafting a will without professional assistance poses numerous challenges, such as:

The Will is Not Legally Binding 

Each state has different requirements that constitute a legally binding will. Some basic premises hold, such as being over 18 and having a sound mind and body without being under undue influence or duress. Yet problems arise when overlooking fine print instructions. Some states will accept an oral will, and others require the will to be entirely in the testator’s handwriting.

In some states, notarization is mandatory and it requires the presence of two witnesses. Meanwhile, in other states, three witnesses are necessary. Unfortunately, online forms do not keep up with changes in state laws. If you fail to use the correct forms and comply with state law when creating a will, it will not hold up in court.

The Will is Unclear 

Generic templates for wills, commonly known as DIY wills, often provide insufficient guidance on critical details. These templates frequently reference siblings without specifying their complete names and addresses. Considering that there may be multiple siblings, the court may fail to comprehend your true intentions. As a result, resolving these ambiguities requires the court to invest substantial amounts of time and money to create a reconstructed version of your will.

If the court has trouble with vague or confusing descriptions of your property and associated instructions for its dispersal, they may opt not to follow your instructions.

The Will is Unenforceable  

It is not permissible to put illegal or impractical conditions on your beneficiaries before receiving their inheritance. Each state has specific laws about what constitutes “illegal or impractical” conditions. For example, you may want to leave money to care for your pet, but a pet cannot legally inherit money. You have to identify a person to receive the money for the care of your pet or create a pet trust.

A Will and a Living Will are Different  

A living will is an advanced healthcare directive that is not related to the distribution of assets to beneficiaries. In case you have outlined your end-of-life medical preferences and subsequent funeral arrangements in your will, chances are the information will not be perused until after you pass away. While a will and a living will are entirely distinct documents, several individuals who prepare DIY wills often amalgamate the two.

A Will Does Not Distribute All of Your Property   

Forgetting to provide instructions for every asset and piece of property is a common error in DIY wills. The court will not inventory assets and figure out where they go. Instead, they distribute property according to state intestacy laws, as if you had no will.

A Will Doesn’t Control Everything

Assets with designated beneficiaries are not subject to will or probate management. They are transferred directly to the named beneficiary, without interference from probate court.

For those with complex estate or familial circumstances, enlisting the services of an estate planning attorney surpasses that of creating a do-it-yourself will. The essential components of a comprehensive estate plan consist of five vital elements: drafting a will, establishing trust(s), granting a power of attorney, designating a healthcare or medical directive, and appointing beneficiaries. It is crucial for these documents to integrate and correspond with each other, and constantly remain under scrutiny for relevant updates in order to ensure successful estate planning.

Your heirs may face issues that require time and financial expenses if you do not plan your will adequately. A poorly crafted will can reduce the worth of your estate after probate court hearings, so any initial savings may not be worth it.

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