Currently, many people think that structuring an estate plan is printing a set of different do-it-yourself (DIY) forms available online and filling them out with the required information. However, this type of mindset may be dangerous, as a badly crafted estate plan might be as bad as having no estate plan at all.
In this article, you will discover why it is a bad idea to work your way through DIY estate planning.
Can I Do My Own Estate Planning in Florida? – An Honest Overview
The rise of the internet and the ease to find legal forms available online is one of the main reasons that justify the popularization of DIY estate planning.
Many websites offer an inexpensive and convenient way for people to download and print forms to prepare documents such as wills, living trusts, advance directives, among others. However, Florida statutory rules define that the validity of specific documents depends on whether they were properly executed.
For example, Florida Statutes §732.502 specifies all the execution requirements that determine the validity of wills within state jurisdiction, including the circumstances wherein a foreign will executed out of state may be valid.
Therefore, considering the strict formalities involved in the execution of several documents that are crucial to any estate plan, a DIY approach is generally not the best choice.
Another issue with DYI estate planning is the one-size-fits-all strategy. Generally, such preset forms available online do not encompass the complexity of real-world situations, especially cases in which the individual’s estate is too large, too complex, or the existence of family disputes.
For instance, it is crucial to consider any genetic predisposition to certain severe diseases when preparing a living will or a health care surrogate designation. Consequently, DYI forms are not enough, as only an experienced legal advisor may provide this level of skill and professionalism.
Can I Do My Own Estate Planning in Florida? – Costs and Expenses
In many cases, an individual may avoid hiring an expert estate planning attorney due to the false belief that it is not worth the price. In fact, paying to download different DYI forms and filling out the documents by oneself might seem like the most cost-effective solution.
Nevertheless, when taking a closer look, it is easy to find out that DIY estate planning often results in catastrophic situations. For example, if a will is not properly executed and the testator dies, the deceased person’s estate will be administered under Florida intestacy laws.
Accordingly, a court will designate a personal representative to execute the decedent’s estate and distribute the assets pursuant to a statutory order of preference. As it is plain to see, a seemingly insignificant issue might result in a circle of multiple costly issues.
Can I Do My Own Estate Planning in Florida? – The Verdict
In Florida, it is not hard to find the consequences of mishandled legal affairs in legal cases that resulted in tens of thousands of dollars lost and bitter experiences for all the individuals involved.
Therefore, instead of wasting resources and time with uncertainty, the best approach is to sit down with an experienced estate planning attorney for an individual assessment. Then, it is possible to structure a solid estate plan to protect your estate and your loved ones.
Immediately Contact an Expert Estate Planning Attorney in Florida
If you want a zealot legal advisor committed to protecting your legacy, waste no time – call Attorney Romy B. Jurado today at (305) 921-0976 or email [email protected] to schedule a consultation.
