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The Dangers of DIY Estate Planning

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Many people are unaware of the potential risks associated with a Do-It-Yourself (DIY) estate plan and trust. A DIY estate plan is one that is created without the assistance of an estate planning attorney, and can result in a number of serious problems. Here, we will discuss the reasons why it is best to avoid a DIY estate plan and trust, the common errors that can lead to invalidation or contesting of a trust, and how an estate planning attorney can help ensure that your estate plan is valid and secure.

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Why Should You Avoid a DIY Estate Plan and Trust?

Creating an estate plan without the assistance of an attorney can be a risky and expensive endeavor. Estate planning laws are complex and vary from state to state and without the assistance of an experienced attorney, there is a high risk that important details can be overlooked or that steps may be taken in the wrong order. Furthermore, an estate plan must be tailored to the individual’s personal circumstances and needs, which requires a deep understanding of the law that only an experienced attorney can provide.

Common Errors with Trust Creation

There are a number of common errors that can lead to a trust being invalidated or contested. These include:

• Failure to follow all the necessary steps in creating the trust.
• Failing to properly fund the trust with all the necessary assets.
• Not properly naming the trustee or beneficiaries of the trust.
• Not properly signing and notarizing the trust document.
• Not properly transferring assets into the trust.
• Not properly protecting the trust from creditors.

How Can An Attorney Help Give Confidence for Your Estate Plan?

An estate planning attorney can help ensure that your estate plan is valid and secure. An attorney will be able to assess your individual situation and craft an estate plan that meets all of your needs and goals. An attorney can also help you avoid the common mistakes that can lead to invalidation or contesting of a trust, ensuring that your estate plan is valid and secure. An attorney can also provide guidance on how to fund the trust, how to manage assets, and how to properly transfer assets into the trust. Finally, an attorney can provide peace of mind by making sure your estate plan has taken into account all of your goals and wishes.

Creating a DIY estate plan and trust can be a risky and expensive endeavor. There are a number of common errors that can lead to a trust being invalidated or contested.

Related Resources: Complex Family and Property Situations

Our website offers a wealth of resources on estate planning in Pennsylvania, focusing on complex family situations and property ownership across multiple states. We aim to provide solutions tailored to your unique family dynamics by covering topics such as  Owning Property in Multiple States, Estate Planning for Blended Families, First Time Estate Planners, Estate Strategies for Unmarried Couples, Avoiding DIY Estate Planning Pitfalls, Creating a Living Trust, and Estate Planning for Stepparents. This content serves as general information. For advice tailored to your particular circumstances, please consult with our attorneys.

Contact us to schedule a consultation and let our team assist you in navigating your estate planning needs and goals.

Client Testimonials

Here's what our clients have to say about working with us. Please note, results may vary based on individual circumstances.

Melinda Previtera, Esq. came highly recommended to our family. Her knowledge base, professionalism, and compassion paved the way for a successful outcome. Melinda is efficient, detailed, and informative. She helps manage expectations, and postures her client for a fair and equitable result. We are happy to recommend Melinda!

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My experience was very good. Everyone was professional and attentive to my needs, keeping me updated every step of the way. I couldn’t ask for a better result, highly recommended.

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My marriage life has been a hell for me for the past four years until I decided to put an end to what has to be ended. Choosing a lawyer was another additional stressful part of the long process. I’m so glad that I’ve found the right one for me at Petrelli Previtera. Life isn’t always fair, but at least having her in my corner, felt even better. I couldn’t recommend her highly enough!

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