Using DIY wills for estate planning can have unintended negative consequences according to Marguerite Lorenz, a writer for marketwatch.com. She reports having recently seen a DIY service that had many typos on its website and that its estate planning “packages” had a document labeled with three different names. This service – like many other estate planning sites – has its own attorneys, but access to specific help for your personal documents is rarely available. If personal advice is offered, it then appears to cost a great deal to receive.
So which is better, DIY wills or an online professional? For people with complicated personal and financial lives, a do-it-yourself service might not fully address your complexities. If you do estate planning by yourself, you might never know the results of your work, but your loved ones will.
According to Lorenz, there are a lot of DIY options for completing your own estate plan, and they have been available almost as long as we have had the internet. With the ease and availability of these programs, you would think that more of us would have an up-to-date estate plan.