Deciding between online estate planning tools and hiring an attorney is crucial for effective estate planning. Online services offer flexibility, cost savings, and convenience, ideal for simple wills and small estates. However, an attorney ensures compliance with state laws, addresses complex issues, and provides personalized advice, which is beneficial for larger estates, special needs planning, or intricate family dynamics. Your choice depends on the complexity of your estate and personal preferences.
Benefits of Online DIY Estate Planning
Online estate planning services are a popular option for getting your affairs in order. Using an online tool to complete your estate planning includes many positives:
- You can work at your own pace and in your own time
- You might be more motivated to get started if you can do this on your own
- Online services are generally less expensive than working directly with an attorney
- You may feel you have more control over the process
- You don't have to leave your home
Benefits of Using an Attorney for Estate Planning
Working with an attorney to complete your estate planning is a more traditional route that comes with its own list of benefits to consider:
- You are assured your will complies with your state's laws
- The will is executed under the attorney's supervision, avoiding mistakes
- Your attorney can answer all of your questions and concerns
- The attorney may notice issues that you are not even aware of or make suggestions that would never have occurred to you
When Online DIY Estate Planning Is a Good Fit For You
Online estate planning can be an excellent fit for you if:
- The overall value of your assets is small or moderate and won't incur estate tax
- You simply want to divide your assets among your family and loved ones without any complex bequests
- You need only a will and possibly a health care directive and power of attorney
- You know who you want to serve as guardian for your minor children
When to Consider Working with an Attorney
There are certain situations in which it makes sense to work personally with an attorney to complete your estate planning:
- Your estate is large enough that state or federal estate taxes will be an issue
- You need to do Medicaid planning to make sure you will be eligible for this benefit
- You wish to make sure a spouse, child, or grandchild does not inherit anything
- You want to leave something to a charity
- You do not want your minor child's other legal parent to get guardianship of your child if you die
- You want to create a trust in addition to a will, health care directive, and power of attorney
- You are the parent of a special needs child and need to ensure they are financially protected after you die
- You own property in more than one state and/or more than one country
- You own a business and want to make sure it continues running smoothly
- You have a prenuptial agreement or divorce judgment that requires you to make a specific bequest in your will
- You do not feel comfortable drafting a legal document on your own
- You have questions about the law or about the will creation process
Creating a will and completing your estate planning is one of the most crucial (and final) decisions you will ever make. It is important to use a process that answers all of your questions and produces documents you can rely on. Online services and attorneys both produce valid, legal wills. It's up to you to decide which method you are most comfortable with.
Related Resources:
- When Should You Start Estate Planning? (FindLaw's Law and Daily Life)
- How To Talk to Your Loved Ones About Estate Planning (FindLaw's Law and Daily Life)
- 3 Estate Planning Documents You Probably Need (FindLaw's Law and Daily Life)
