Did you create your own documents?<\/p>\n
Why pay a lawyer when I can get my estate documents online for free (or at least at a lesser cost than a lawyer)?\u00a0 Every estate planning<\/a> attorney has fielded that question at some point or another.\u00a0 My response is usually: \u201cI love online documents\u2026because it usually means I\u2019ll have more work that makes more money in the future.\u201d\u00a0 After I say that, I typically get a grin across the client\u2019s face and then they ask \u201cwhy\u201d?<\/p>\n Using online documents to accomplish your estate planning goals is not generally a good idea and in many cases can lead to severe consequences.\u00a0 Have you ever heard the saying, \u201cyou get what you pay for\u201d?\u00a0 When you get your documents online, you don\u2019t have the opportunity to talk to an attorney, to ask questions about your specific situation unique to only you or your family, and your documents will not be tailored to your specific circumstances.<\/p>\n Prior to your documents being drafted, you meet with an attorney<\/a> to discuss your estate planning goals and objectives at the consultation.\u00a0 My estate planning consultations usually last at least an hour if not an hour and a half. \u00a0During the consultation, we review your health status, family status and financial status all before we even mention the words \u201cwill\u201d or \u201cpower of attorney\u201d or \u201ctrust.\u201d\u00a0 You also have the opportunity to ask questions and receive specific answers related to your situation.\u00a0 When you get your documents online, they are almost\u00a0 never tailored to your specific situation.<\/p>\n What happens if you are a blended family?\u00a0 I can almost guarantee you that the basic online Will does not address how to provide for your spouse and your biological children if you were to die first.\u00a0 Many estate litigation cases arise from blended family situations where the surviving step parent does a new will after the spouse dies cutting out the spouse\u2019s biological children from any inheritance.<\/p>\n What about your million-dollar IRA?\u00a0 Who does that go to?\u00a0 Many clients think the Will directs who gets that money.\u00a0 WRONG!!\u00a0 If you have beneficiaries on that IRA, then the beneficiaries listed on the IRA account receive the money and the beneficiaries named in the Will<\/a> get none of it!\u00a0 So many people believe the Will controls everything, and unfortunately, if you get your documents online, you will not be educated on what happens to each asset that comprises your estate.<\/p>\n