Can You Get Your Estate Plan Done on a Budget?

Can You Get Your Estate Plan Done on a Budget?

On the internet, you’ll find some estate planning services that promise to save you a significant amount of money as opposed to working with an attorney. You may also find general practice attorneys who provide estate planning services at a low cost. However, while it is possible to get your estate plan done on a budget, you may want to spend some time considering whether it is a smart choice.

Your estate plan is not something to take lightly, as the documents guide your end-of-life care, guardianship of your minor children and what you wish to happen to your property and assets upon your passing.

The following are some of the pitfalls of these budget estate planning options:

  • Mistakes: If you attempt to do it yourself via an online service, you are likely to have errors in your estate plan that may not allow your plan to work properly. Or, it could invalidate your plan completely. Working with a lawyer who focuses specifically on estate planning ensures you avoid these mistakes.
  • Focused experience: A general practice attorney who works in many different types of law may not have the experience you need to make sure your estate plan achieves all your goals.
  • Changing laws: Creating your own estate plan means you run the risk of not knowing when changes to state or federal law could affect your plan and how your assets get distributed.
  • Lack of advice: Your estate planning attorney serves as a go-to resource after your passing. A lack of legal counsel means your loved ones do not have vital resource. In addition, without a skilled estate planning lawyer, you will not have someone to call and ask for questions throughout the estate planning process and when you need to update your documents.

To get the guidance and advice you need when establishing your estate plan, consult the skilled Tampa attorneys with BaumannKangas Estate Law.