Age Gracefully With A Plan In Place

Why you shouldn’t trust your estate planning to a website

On Behalf of | Aug 1, 2024 | Estate Planning |

You’ve probably seen those online estate planning advertisements on TV or on the internet. You might consider using one rather than getting professional estate planning guidance. After all, you may do your income taxes online rather than going to an accountant. 

Creating an estate plan that meets your and your family’s needs, however, is more complicated. Creating a simple will is one thing. Putting a plan in place that lets your estate avoid probate and possibly estate taxes, lets you protect loved ones through special trusts. Through documents like an advance directive and power of attorney (POA), you can prepare for a time you may need someone else to step in and advocate for your stated wishes requires individualized guidance.

Laws and your own needs will likely change

While online estate plans are state specific, remember that state and federal laws change all the time. Laws don’t just affect whether an estate plan is valid. They often determine what decisions are best to avoid taxes your loved ones could be responsible for after you’re gone – either through the estate or their own inheritances.

If you create an estate plan while you’re still relatively young and healthy, you’ll likely need to modify it as your family grows and changes. You may simply change your mind about things – like who will make the best executor (personal representative), successor trustee for your revocable living trust or what charities you want to leave money to. 

Having a professionally written estate plan can make these changes easier. In some cases, provisions can be written so that multiple scenarios are included. This can help minimize the need for changes.

Creating a will online can be a good option if you’re about to take a road trip across the country or need major surgery. It can also be a good starting point for your estate planning. However, individualized estate planning guidance can better help you ensure that you’re protecting your wishes for your assets and your legacy and better protecting those you love.