3 Reasons to be Wary of DIY Wills

I used to get asked all the time if I would review a will for someone who found one online and did a DIY job, just to see if “it was ok.” I used to say yes and bill by the hour to do so, because there’s just no other billing model that works. That usually meant the client ended up spending a lot more to get the will “checked out” than maybe they would have if they had just had it done properly to begin with and I have to say, I have never seen one that didn’t get some redlines from me.

In some situations, perhaps a DIY tool is better than nothing, but in most cases (if you have substantial assets, own real estate, or have children under 18 or that will require a trust to help protect their assets down the road), a solid, customized estate plan is the right way to go. I want to share a few horror stories with you of things I found so that you can be aware of what can go wrong with an inexpensive or free form you find online.

Now, I am not writing this blog post just to convince you to hire a lawyer to do this for you, but after I share what I’ve seen, you may decide that is the right choice for you. My hope, however, is that you are educated and empowered to make a more informed decision after reading this blog post.

Without further ado, here you go – 3 reasons I think everyone should be wary of DIY wills:

1) You have no idea who wrote them, where they came from, or whether they are even going to work in your state.

Each state has its own special requirements that MUST be satisfied in order for a will to be valid. Certain language, certain information, the number of witnesses, whether it needs to be notarized…. These are some of the formalities that may vary state by state. If a will doesn’t meet all the requirements, it’s not going to work – the court will reject it. And that means that your wishes may not be honored.

Over the years, I have seen online forms that were represented as being state specific that didn’t have the right number of witnesses, that lacked important information (like where your assets go if all the people you name are gone – which means your assets may go to the state!), and one didn’t even have the right state name in it!

When you get a form online (especially the free ones), you have no idea who drafted the document, whether they are a lawyer who is familiar with your state’s requirements, or whether that person is even a lawyer at all.

The bigger corporate entities who sell their online documents and offer attorney support may seem like a great alternative. In some cases, they are. But do be mindful of the resources that offer you lawyer support for a long time at a very low price. I’ll tell you, those lawyers aren’t getting paid much for helping you out.

And is that what you want for something this important?

That’s not to say you won’t get lucky and land with a lawyer who has information you can get on your own available through their website or other sources, but …

estate planning is definitely an area where you get what you pay for….

So be an educated consumer, be mindful of what you’re getting if you are paying for something, and be aware of what market rates are for the service you’re getting so you can have a better understanding of what you're getting - and what you're not getting.

2) You probably didn’t get much guidance on how and why to answer the questions they walk you through (or the blanks you fill).

I’ve seen some programs out there that offer articles, some bits and pieces of information that help you fill out the form, but I haven’t seen anything that goes into the level of detail I know we do with our clients and potential clients.

There are so many facets that come into play when choosing things like executors, trustees, health care agents, and your durable power of attorney. Family dynamics, physical location, convenience, and common pitfalls when naming guardians for minor children are not accounted for when filling out a simple online form.

Lawyers who handle estate planning on a regular basis often have extensive questionnaires for clients to complete as part of the planning process that flag potential issues. We certainly do! And even in our Better than DIY program that allows clients to do most of the work themselves for a basic estate plan, we offer a heck of a lot of information and education about things to consider in the accompanying online course. We haven’t seen anything else like it out there, at least not around here.

3) DIY wills give you a false sense of security.

I know lots of people who have done a DIY will just to “get it done,” but with the intention of getting around to seeing a lawyer, reviewing it, and maybe even doing a more comprehensive plan.

What often happens is that appointment never gets scheduled because of the security blanket - the sense of urgency is lost after getting “something” done, the document never

gets revised, … and then the day comes when it’s too late to do something different.

And that’s a shame.

So don’t fall into the trap of fake security. Instead of finding something online “just to get it done,” consider booking an appointment with a lawyer in your area that you know, like, or trust. Even if it is just an initial consult. At least you’ll have a better idea of what the right fit is for you. And whether or when you may want to upgrade your plan from DIY to a customized plan designed to fit your particular circumstances. Estate planning is rarely a one-size-fits-all kind of thing.

So, one last thought in conclusion… I stopped doing paid DIY will reviews because I never found one that didn’t require a good amount of revision. But I will be happy to look at yours for free if you’re wondering if it’s time for an upgrade. I’ll let you know where the holes are and how to fix them, whether it’s a simple change or a total plan revamp. Interested? Book a quick 15 minute call online to get started.