There are programs available that allow you to design your own estate plan, but beware of the problems.
The do-it-yourself estate plan may seem simple but can create some serious problems, according to the Northwest Indiana Business Quarterly article “Dangers of DIY Estate Planning.”
The article discusses many potential pitfalls of creating your own estate plan, but they all essentially boil down to the simple proposition that if you do not have professional expertise in estate planning, then you are likely to make mistakes that could cost you and your family. These mistakes can range from very simple oversights, such as not knowing how many witnesses are needed to make a will effective, to very complex mistakes, such as failing to properly understand how your estate planning choices effect the taxation of your assets after you pass away.
It actually does not matter very much whether the mistake you make is simple or complex because dealing with the mistake will almost always cost your estate more money than you saved by creating your own estate plan.
An estate planning attorney can guide you through the process and reduce the risks of pitfalls and problems.
Reference: Northwest Indiana Business Quarterly (July 25, 2016) “Dangers of DIY Estate Planning”
