Often clients ask about Do it yourself living wills, wills, trusts, and other components of estate planning. I read an interesting post by an Estate Planning Attorney and although they are not in Jacksonville Florida their advice and commentary is very relevant. Basically with a will, you don’t often get a chance to correct mistakes or have a professional fix or review the document. The Estate Planning Lawyer compares it to buying a hair dye in a store and then getting a professional to fix your hair after you make a mess or do serious injury to yourself.
While this is true with business planning, often with estate planning there is no time to fix the mistakes. Often one discovers the mistakes in their will, trust, power of attorney only after it is to late to make any changes. Sure we could all go purchase a form, or use an online service and save some money, but if you are trying to protect assets, save money on probate, or reduce estate taxes, the few dollars saved (even if large by percentage) will often cost hundreds or thousands of times as much when the taxes come due.
Be careful with do it yourself kits and services, and if you have something to loose, remember that you often get what you pay for.