When you hear estate planning lawyers advise against do-it-yourself inheritance planning you may think that attorneys are obviously going to make this recommendation because their profession involves drawing up Last Wills, trusts, and the like.
However, the actual truth is that attorneys are licensed and required to give sound advice. Do-it-yourself estate planning is not universally condoned because there are no guarantees that the documents will be drawn up correctly if you don’t engage professional assistance.
Now there is some objective confirmation with regard to the above. There are few if any resources in the United States that are more trusted for providing accurate and objective consumer information than Consumer Reports magazine and website.
They have conducted a study that put three of the most commonly utilized do-it-yourself legal document websites under the microscope. What they found was that Last Wills that are constructed utilizing the tools provided are lacking, and that the true intentions of the testator could be misconstrued.
Consumer Reports states that it is not advisable to utilize these services except perhaps in cases when the situation was as simple as it could possibly be, such as leaving everything to your spouse.
Of course, even under those circumstances there are other documents that should be executed such as advance directives for health care and powers of attorney that would hold sway in the event of incapacitation.
Trying to save a little bit of money by cutting corners with something as important as your estate plan is really not a good idea, and it is gratifying to see Consumer Reports provide independent confirmation of this fact.