The internet has provided online solutions to a host of issues, including estate planning. Now, do-it-yourself (DIY) will templates are available for a relatively low price.
To many, this seems like an efficient alternative to having an outside party draft a will for a fee. Nonetheless, while a DIY will might seem like a cost-cutting solution, it could actually end up costing you more than having professional estate planning guidance. Here are just two of the key risks of drafting a will on your own.
Following the correct legal process
In Pennsylvania, there are several legal steps that must be followed for a will to be valid. For example, the will must be signed by the person who writes it and two reliable witnesses. Legal terminology regarding wills in Pennsylvania is also very specific, whereas online will templates can be generic.
Your will must be clear, concise, accurate and above board legally. A generic online template may not check all of those boxes. The end result is that your will could be contested. It may even be deemed invalid by the court.
Not being adaptable to change
Online wills are often sold as something that you do once and forget about. The truth is that a will needs to reflect your current circumstances. As things change, your will needs to be able to adapt. Online wills might not contain the provisions that allow for a change in circumstances.
When it comes to estate planning and drafting a will, there really is no substitute for having sound legal guidance behind you. This will help you avoid the common pitfalls with DIY estate planning and better ensure that your final wishes are honored.