The internet makes it look like it’s very easy to DIY your estate plan. Pick what you think you need, and out pops a document. These automated forms don’t really consider your individual needs, check for mistakes, nor guarantee that you will sign them correctly. There are many mistakes you can make when you DIY your estate plan. Here are some of the most common ones that can result in the court deciding who gets your property, who takes care of your children, and what happens to you if you can’t make decisions for yourself.
Creating the wrong documents.
Automated forms can’t tell you which document is best for you. The estate plan for a married couple with one child is different than the estate plan for a married couple with no children. What if you have a child with your spouse and a child from a prior relationship? What’s the best way to make sure both children are protected? An automated form can’t answer that question for you. An attorney learns about your family and your goals then advises you on what is right for you.
Missing documents.
Estate planning is about more than just passing on assets. Yet when most people think about estate planning, they think about a Will or a Trust. A complete estate plan should also include a plan for what happens when you can’t make your own decisions because you can’t talk, are unconscious, or are disabled. Who will make decisions on your behalf? What kind of treatment will you get? Who will take care of your house? If you’re missing a Designation of Health Care Surrogate or a Preneed Guardian Designation the court will decide who will make those decisions for you.
Executing the documents incorrectly.
Trusts, Wills, these types of documents all need to be executed in a specific way to ensure compliance with Florida law. Executing them incorrectly could mean they’ll be invalid when they are most needed. If the documents are invalid, it’s like you never drafted them in the first place! Your family will go through the long, frustrating, and expensive probate process. The court will distribute your property according to Florida law. The court will decide who takes care of your children.
Incorrectly naming legal guardians for your minor children.
Speaking of taking care of your children, including documents regarding legal guardian is an essential part of an estate plan. A legal guardian is the person who takes care of your minor children if you pass. Choosing a legal guardian is an important decision. You want to select someone who has similar values than you and your spouse. You want to pick someone your children like. You want to pick someone who you know will care for your children as you would have cared for them. But picking a guardian means nothing if you don’t have the proper documents in place. If you don’t correctly name your legal guardians, the court will decide for you! What the court considers important in a legal guardian will likely be different than what you consider important.
Making any one of these mistakes will mean additional expense, and frustration for your grieving family. The IGS Legal approach focuses on drafting an estate plan that is tailored to you, to help you take control of your family’s future. I take the time to understand your needs through our comprehensive questionnaire and free initial consult. I then develop Will and Trust based plans that adapt to your everchanging life. We also review your documents periodically for accuracy.
Don’t wait for peace of mind. Take control of your future today. Schedule a call to see if IGS Legal is the right fit for you: email [email protected] or visit www.igslegal.com.
