Estate plans have a number of benefits, and most people in Colorado and across the country do not fully understand those benefits. In fact, you may be among the many individuals who believe that you do not need an estate plan or that you can quickly create a plan on your own.
First of all, every adult can potentially benefit from having an estate plan. Even if you do not have a substantial amount of wealth, an estate plan can benefit you by allowing you to detail your wishes for long-term care in the event that you become seriously ill or incapacitated later in life, and it can allow you to name a guardian for any minor children you may have.
What about doing it yourself?
If you have decided to move forward with creating an estate plan, you have made a wise choice. Without a plan, state laws and the court would decide who would care for your children and receive your assets after your passing. However, you still have many choices to make before your plan is complete, and one of those choices may be whether you should create your own plan using online sites.
While DIY planning is certainly an option, it may not be the one that best suits your circumstances. These websites often do not provide in-depth information about your available planning options and tools that may help you create a solid plan. As a result, you may miss out on using tools that could have proved immensely useful to you and your loved ones.
One size does not fit all
Another issue with online DIY planning sites is that they typically do not cater to state-specific terms. Each state has its own laws and regulations regarding estate plans, what makes them enforceable and steps to ensuring their validity. Often, DIY options use general terms and language in hopes of reaching more people. However, using these forms could result in the court deeming your plan invalid because it does not meet certain state-specific details. Unfortunately, an invalid plan can lead to the same issues for your family as no plan.
If you want to ensure that your estate plan serves its intended purpose, you may want to move forward with planning with the help of a legal professional. An estate planning attorney can provide you with reliable and applicable information to help you form the best plan for your needs and wishes.