Why You Shouldn't Write Your Own Will

Do-it-yourself Wills are everywhere. You can even download free versions on the Internet if you like. But before you make the decision to write your own last will and testament, consider this:

A do-it-yourself Will is going to be a generic form by nature. It has to, in order to accommodate the masses. So, all those things that make your estate unique are not likely to be covered in a self-serve form.

Like what, you wonder?

Well, let's say you have a disabled dependent. Leaving a lump sum inheritance to that heir could jeopardize his or her ability to qualify for important government assistance programs. A do-it-yourself Will won't be able to address this issue and your dependent could potentially lose their benefits when your Will is probated.

Do you plan to leave money to provide for a beloved pet? While you can certainly do that in a Will, understand that pets can't inherit. Instead, you have to leave the money to the person you want to care for your animal after you're gone. But once the Will is probated and the estate has been distributed, that person can do anything they want with both the money and the pet - and there's nothing you or the courts can do to stop them. Instead, you need a Pet Trust, something you're not going to get in a do-it-yourself form.

Also remember that self-serve forms may or may not be up to date with the latest changes in the law. They won't notify you when new estate planning strategies become available and they won't remind you that it's time to update your plan.

A good estate planning attorney on the other hand, knows exactly what's happening in the world of estate planning law and makes it his or her business to ensure that your plan is always current.