Online estate plans and document “kits” are all the rage these days. They typically appeal to people who are looking to save money and at least get something in writing should they pass away.
I’ve actually worked with quite a few of such people in my own practice, namely when their do-it-yourself plan backfires and fails to protect their loved ones in a true emergency.
It’s no secret that budget estate plans notoriously fall apart and set well-meaning people up for a nasty TRICK, instead of a treat, when the unthinkable happens. And the worst part is that it often costs families far more to fix these mistakes than it would have to work with an attorney in the first place.
It’s not because the documents are wrong or DIY kits are necessarily low quality either. You can buy the most expensive kit in the marketplace and still watch your plan fall apart because your life can not be summed up in a one-size-fits-all legal form! Instead, it takes personalized guidance from an attorney to ensure you are making the very best decisions and getting the plan that you actually NEED to protect your wishes and assets if something happens.
Remember, the purpose of an estate plan is to make sure that there are no surprises, oversights or loopholes waiting for your loved ones if you should pass away or become incapacitated for any reason.
A generic estate planning kit may help you decide who should get what if you die, but will it shield your assets from nursing homes or the state if you ever become disabled and need long-term care? Will it guarantee that your kids will be raised by the people you want, in a way you want, if the unthinkable happens? Will it ensure that your hard-earned money is immediately available for your loved ones rather than being tied up for months or even YEARS in the probate court?
In the majority of cases, the answer to these questions is NO, causing much pain, sorrow and chaos for families in the midst of a crisis situation.
Don’t let your family find an unexpected TRICK in your estate plan if tragedy strikes. At the very least, have your DIY plan reviewed by an attorney so you know what exactly it does and does not cover should you pass away or become incapacitated during your lifetime. The financial and physical security of your family depends on it.
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Kinsey Law Group, P.C. was formed to focus on the needs of families. We are dedicated to assisting you in the areas of Estate Planning and Assisted Reproduction/Surrogacy. If you have questions or concerns, you’re invited to call 301-968-1630 or send an e-mail any time, without cost or obligation.
Locations: Montgomery County (Bethesda, Maryland); Prince George’s County (Largo, Maryland) and Washington, D.C.
