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Estate Planning Lawyer vs. DIY Planning: Which Is Better?

Estate Planning Lawyer vs. DIY Planning: Which Is Better?

Have you ever considered planning your estate on your own? If so, you’re not alone as many others prefer the take the DIY estate planning route. For most people, DIY estate planning is considered a quick and cost-effective alternative to hiring a lawyer which seems expensive. 

Well, in this article, we’ll dissect the pros and cons of each to help you make the right decision. Continue reading to learn more:

women having a conversation to a lawyer

DIY Estate Planning: The Advantages and the Disadvantages 

DIY estate planning has become increasingly popular considering that we’re in an advanced technological era where ready-made templates and tools are available to create legal documents like wills, trusts and power of attorney. Most people prefer this method due to its convenience and affordability. Without spending a dime or paying little to nothing, you can create essential documents from the comfort of your own home.

If you have a simple estate, assuming you’re single, have no children and own limited assets, then DIY estate planning might work for you. It can be a starting point for those who need a basic will or just want to establish a power of attorney without investing too much time or money. 

However, DIY estate planning has its downsides. The tools and templates available online are often the same and may not suit your specific needs or abide by the laws in your state. There’s more to estate planning than just filling out a form. Mistakes like missing details or false information can lead to serious legal issues. You could end up paying double or more the cost you’re avoiding when you opt for the DIY estate planning method.

Estate Planning Lawyers: Professionals in the game

An estate planning lawyer brings something no DIY platform can which is expertise and professionalism. They do more than templates and ready-made documents. They offer advice and guidance that help protect your assets and make sure your wishes are carried out. 

A lawyer can also help you adjust your plan as your life changes. Whether you’re having a new child, a divorce or there’s an update to the law, your estate plan needs to evolve, and having a professional guide can make the process easy and seamless.

a lawyer discussing some documents to the old couple

Conclusion 

The choice of choosing an estate planning lawyer or DIY estate planning boils down to your specific needs. If you have a simple estate and a moderate family, DIY templates and tools might be a good option for you. However, if your estate is big and complex, or you simply want to prioritize peace of mind, an estate planning lawyer is your best option.

Estate planning extends beyond just documents; it’s about protecting your legacy and your loved ones. Whether you choose DIY or hire a lawyer, what matters most is that you take action and secure your estate.