Template wills and other cheap legal documents are among the most dangerous choices you can make for the people you love. These plans can fail to keep your family out of court and out of conflict, and can leave the people you love most of all—your children—at risk.
The people you love most
It’s probably distressing to think that by using a cut-rate estate plan you could force your loved ones into court or conflict in the event of your incapacity or death. And if you’re like most parents, it’s probably downright unimaginable to contemplate your children’s care falling into the wrong hands.
Yet that’s exactly what could happen if you rely on free or low-cost fill-in-the-blank wills found online, or even if you hire a lawyer who isn’t equipped or trained to plan for the needs of parents with minor children.
Naming and legally documenting guardians entails a number of complexities that most people aren’t aware of. Even lawyers with decades of experience frequently make at least one of six common errors when naming long-term legal guardians.
If wills drafted with the help of a professional are likely to leave your children at risk, the chances that you’ll get things right on your own are much worse.
What could go wrong?
If your DIY will names legal guardians for your kids in the event of your death, that’s great. But does it include back-ups? And if you named a couple to serve, how is that handled? Do you still want one of them if the other is unavailable due to illness, injury, death, or divorce?
And what happens if you become incapacitated and are unable to care for your children? You might assume the guardians named in the DIY will would automatically get custody, but your will isn’t even operative in the event of your incapacity.
Or perhaps the guardians you named in the will live far from your home, so it would take them a few days to get there. If you haven’t made legally-binding arrangements for the immediate care of your children, it’s possible they will be placed with child protective services until those guardians arrive.
Even if you name family who live nearby as guardians, your kids are still at risk if those guardians are not immediately available if and when needed.
And do they even know where your will is or how to access it? There are simply far too many potential pitfalls when you go it alone.
Kids Legal Planning
To ensure your children are never raised by someone you don’t trust or taken into the custody of strangers (even temporarily), consider creating a comprehensive Kids Protection Plan®.
Protecting your family and assets in the event of your death or incapacity is such a monumentally important task you should never consider winging it with a DIY plan. No matter how busy you are or how little wealth you own, the potentially disastrous consequences are simply too great—and often they’re not even worth the paper they’re printed on.
Plus, proper estate planning doesn’t have to be a depressing, stressful, or morbid event. In fact, we work hard to ensure our planning process is as stress-free as possible.
What’s more, many of our clients actually find the process highly rewarding. Our proprietary systems provide the type of peace of mind that comes from knowing that you’ve not only checked estate planning off your to-do list, but you’ve done it using the most forethought, experience, and knowledge available.
If you’ve yet to do any planning, contact us to schedule a Family Estate Planning Session. This evaluation will allow us to determine your best option.
If you’ve already created a plan—whether it’s a DIY job or one created with another lawyer’s help—contact us to schedule an Estate Plan Review and Check-Up. We’ll ensure your plan is not only properly drafted and updated, but that it has all of the protections in place to prevent your children from ever being placed in the care of strangers or anyone you’d never want to raise them.
Dedicated to empowering your family, building your wealth and defining your legacy,