Top 10 Reasons Not to Use Estate Planning Forms

Top 10 Reasons Not to Use Estate Planning Forms

A lot of people think that estate planning is nothing more that filling out a form. Forms don't work for many reasons. Here are just a few:

1. Forms Do Not Think – When drafting documents, an attorney must take into account numerous laws relating to tax, real estate, insurance, wills, trusts, guardianship, estate administration, and many other areas. Estate planning is a massive legal puzzle, and laws change on regular basis.

2. Forms Do Not Give Advice - You can’t get answers from a form. Some form providers will “review” your document, but this is little more than a spell check.

3. Forms Do Not Work – Drafting a “valid” document is not the same as drafting one that actually works for you. People that draft forms rarely have any real experience with handling property after someone dies. You must clearly understand how a document will be used in order to draft it properly.

4. Forms Cause Higher Risk of Litigation – We have first-hand experience with families that were forced to spend thousands of dollars on probate litigation simply due to a form that was not clearly drafted. An attorney is more likely to draft a document that clearly states what the client intended.

5. Forms Cannot Coordinate Your Assets – Did you know that all of your assets are not covered by a will or trust? Do you know which ones? Are you certain about where your assets will end up?

6. Forms Do Not Protect Your Children – Minor children need special protection if you die. Your assets must be used for their care and support over many years. A will or trust does not automatically perform this function. Do you know how to make sure your family is protected? Are you prepared to take a chance on a form?

7. Forms Do Not Save Money – Probate litigation costs thousands of dollars if something goes wrong. Professional drafting and advice reduce the risk of litigation. The cost of a form is high compared to the value actually provided. Consider the risk of using a form compared to cost of professional services. The advice and counsel of an experienced attorney costs less than you think.

8. Forms Are Not Drafted by Specialists in Michigan – Every state has different laws regarding wills and trusts. Michigan has very specific laws on the meaning of certain words in a will or trust. Using the wrong words can makes a difference. For example, Michigan courts were recently asked to interpret the following phrase in a will: “50% to my brothers and sisters that survive me share and share alike or to the survivor or survivors thereof". Several families fought for years over the meaning of this phrase. Does it seem clear to you?

9. Attorneys Must Stand Behind Their Work – Ask yourself why forms always contain a disclaimer of liability. Form companies make certain that they not responsible for their documents. Attorneys cannot disclaim their work by law. Only an attorney will answer your legal questions even after the document is drafted. And if a question does arise after someone dies, an attorney can testify about what the deceased person really wanted.

10. Every Person Is DIFFERENT – We have drafted thousand of documents, and every one was customized to meet the needs of our clients. It is impossible to create a form that will meet the needs of millions of different people. You might get lucky with a form that fits your exact situation, but the odds are extremely low. Forms are nothing more than high-stakes gambling, and your family is the bet.