The DIY approach to estate planning is not the best option

On Behalf of | Jul 2, 2020 | Blog

Estate planning is a smart step for individuals of all income levels. Regardless of income, health status, age or marital status, you can benefit from having certain types of plans in place. You may assume that, since your estate plan shouldn’t be too complicated or that you only need a will, it would be okay to do it yourself.

In reality, estate planning is a serious process, and there could be a lot at stake for you. This is why the DIY route is not the prudent choice. With the documents you will draft, you can decide what happens to your stuff in case you pass, who will care for your children and protect assets for a specific use in the future. You don’t want to risk any problems with those specific issues.

Why not DIY?

There are certain things that you may be able to do yourself. Perhaps you can fix your dishwasher or change the oil in your vehicle, and that is probably because you have some experience in those areas. If you know nothing about electricity, however, you will not want to try and replace the wiring in your home. There are certain things best left to professionals, and that includes estate planning.

A knowledgeable legal professional can evaluate your situation and determine the best way to move forward. With the right guidance, you can craft a plan that is uniquely suited for your individual needs and objectives. Some of the things that may benefit you include:

  • A will — These are important documents that outline what you want to happen to your stuff in case of death. You can also appoint a guardian for a minor child. However, there are limits to what wills can do.
  • A trust — This is a tool that allows you to protect certain assets for a designated purpose. This may include the care of a minor child, charitable giving and passing on property to a beneficiary.

The importance of professional guidance

Websites that offer you will-planning services or the ability to input your information into pre-drafted estate planning documents are convenient, but they aren’t what’s best for your interests. Working with a Nevada lawyer means you will have the personal assistance necessary to draft a thoughtful and enforceable plan. This will provide you with peace of mind and security.