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Should you consider do-it-yourself (DIY) estate planning?

We live in a DIY world, so it's only natural to consider the pros and cons of tackling estate planning without professional help.

While this option is available to you, there are several reasons why you should think twice before going down this path:

  • You don't know what you want or need: There are tools that can help you create estate planning documents, but that doesn't mean you know which ones you need.
  • You don't know the law: There are both state and federal estate planning laws. If you don't understand these, you could make a decision that costs you time and money. It could also make life more difficult for your loved ones upon your death.
  • There's no one to answer your questions: You think you know what you want to accomplish, but then you find yourself in the middle of the process and facing a variety of questions. At this point, you begin to search online for answers. And while you may find some information, you never know if it's accurate and/or pertains to your specific situation.

When it comes to estate planning, the last thing you want to do is take a risk. Any mistake that you make can impact you and your loved ones in a variety of ways.

If you're considering DIY estate planning, use this time to learn more about what you're trying to accomplish. Then, when the time comes to proceed, ask yourself the following question: Do you really know what it takes to create a comprehensive estate plan that protects your best interests?

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