What’s the Downside of DIY?

October 1, 2014

There are positive aspects to attempting your estate planning on your own, but there are just as many downsides. Those downsides can cost you big time, whether you have many different kinds of assets and business interests or whether you believe that your estate is simpler.

More complex situations should always be addressed with an experienced estate and tax planning attorney. Appreciated property, families with children who have special needs, family-owned businesses, and blended families are but a few examples of where DIY estate planning can go so wrong.

What’s the Downside of DIY?
Photo Credit: militarybyowner.com

 

More sophisticated planning strategies, like the use of trusts, are outside the realm of possibility for someone completing their estate planning documents. Furthermore, new legislation (and sometimes, increasingly complicated legislation) means it’s vital to contact a professional to ensure you understand the opportunities and liabilities correctly. Laws are always changing, but template forms and DIY strategies are not as up to date on these strategies as an “in the know” estate planning firm will be.

Going DIY could mean that what you set up for plans after your death doesn’t actually hold because the wording, structure, or legal applicability is incorrect. Trust the experience and training of an estate planning firm that has helped individuals and families address needs across the spectrum. Call us at 732-521-9455 or through email at info@lawesq.net to begin.


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

How to Protect Yourself from Financial Scams: A Practical Guide for Individuals and Families

Learn how to identify, avoid, and respond to financial scams with practical strategies designed to protect your wealth and personal information. How to Protect Yourself from Financial Scams: A Practical Guide Financial scams are becoming increasingly sophisticated, targeting individuals and families across all income levels. Whether through phone calls, emails, social media, or even trusted-looking websites, bad actors are constantly ...

<p>The post How to Protect Yourself from Financial Scams: A Practical Guide for Individuals and Families first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Can W-2 Employees Reduce Their Tax Burden? Strategies to Consider

Learn how W-2 employees may be able to reduce their tax burden through strategic planning, tax-advantaged accounts, and thoughtful financial decisions. Can W-2 Employees Reduce Their Tax Burden? For many professionals, earning income as a W-2 employee can feel limiting from a tax-planning perspective. Unlike business ...

<p>The post Can W-2 Employees Reduce Their Tax Burden? Strategies to Consider first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Elevating Wealth: How Lifestyle Services Transform Financial Success into Meaningful Living

Discover how curated lifestyle services—from travel and wellness to protection and life transitions—help transform wealth into a more intentional, fulfilling way of living. Elevating Wealth ...

<p>The post Elevating Wealth: How Lifestyle Services Transform Financial Success into Meaningful Living first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>