Do You Need an Attorney for Estate Planning
With the deluge of AI software, is hiring an attorney necessary?
Have you jumped on the AI bandwagon yet? If so, you’ve probably used it to make your life easier. AI can be incredibly helpful, especially when the stakes are low. Need a personalized meal plan or an exercise routine? AI can handle that. But when it comes to estate planning, some people use AI for what they believe to be a simple and cost-effective solution.
The allure of Do-It-Yourself estate planning through AI is strong, especially when you think your situation is simple and straightforward. You may also think you don’t have much money, and so your circumstances aren’t complicated. Both of these beliefs are extremely common – and rarely true.
Here’s the truth: estate planning is not just about creating a set of documents, and it’s almost always more complicated than you think. To do it effectively, it must be personalized to fit you, your family dynamics, and the specific types of assets you have. But unless you’re an expert, you don’t know how your personal circumstances apply to the law and your values – or how your estate plan should be structured to fit the law and your values. AI cannot do any of this. And if you get it wrong, there are legal (as well as financial) consequences that could cost you not only money, but time and heartache. You need a human to guide you; a human who understands you, your family, your assets, your wishes and desires, and how all these things work together with current law.
Before you decide to jump all in and use AI for your estate plan, ask yourself the following three questions. Then consider your answers before turning to AI or any other free or cheap legal service. If you’ve already done your estate plan, these questions are important for you, too.
Question No. 1: What Matters?
First and foremost, who or what matters most to you? When you’re creating a legal plan for what happens if you become incapacitated and when you die, the place to start is by getting clear on what matters. Is it the money you’ve worked hard to earn, or is it the people around you and the relationships you’ve nurtured? Most likely, it’s the people.
Think about how you are affected when a loved one passes away. You’re probably filled with grief, and their absence leaves a void in your life. While their money can ease financial strain, it’s the memories and the love you shared that truly matter (this is their “legacy”). Your loved ones will feel the same way after you’re gone.
Imagine that your family is left to deal with a big legal and financial mess after you’re gone, all because you didn’t create an estate plan or created one that failed. No one wants to leave that ordeal for their family and friends. Does it matter to you that people will need to spend time away from work and their lives to manage your affairs? And what if they ended up fighting or estranged? This can be an unfortunate outcome if you leave planning up to a machine.
What about your assets? Does it matter to you if your estate has to pay unnecessary taxes, or that your assets get lost and turned over to your State’s Department of Unclaimed Property? Or do you care about supporting a cause you believe in, or supporting a family member who needs help?
Question No. 2: What’s It Worth?
Once you’re clear on what matters, the next question is: what are those things worth? How important is it to ensure your family’s relationships are preserved, for example? How important is it that your assets don’t get used to pay taxes when there’s an option to give them to your loved ones? It’s critical to know not only what’s important, but how important it is, so you know how much time, energy, attention, and money to dedicate to it.
One of the main reasons people may use AI to draft their estate plans is that they think estate planning is simple. However, estate planning is much more complex than most people realize. Even licensed attorneys who practice estate planning often find themselves overwhelmed by the intricacies of the law, which changes regularly and varies from state to state. AI is a one-size-fits-all approach that doesn’t take into account the complexities. So, if you rely on AI, you’re leaving a lot to chance. Is it worth it to you to take a chance on what matters? There is no wrong answer here; it may be yes or it may be no. The key is that you’re being true to yourself.
Question No. 3: Is AI Actually Cheaper and Easier?
And now we’re at the third and final question: is AI or Do-It-Yourself legal really cheaper and easier than working with an expert? If the program makes a mistake in your estate plan and your family ends up in court, embroiled in conflict, with relationships irreparably broken, was it worth the supposed savings? What if your assets were lost to the government, eaten up by unnecessary taxes, or depleted by lawyers’ fees and court costs due to litigation?
When you weigh the potential costs—financial, emotional, and relational—against the upfront savings you might achieve by using AI, the true worth of those things that matter to you becomes clearer. You see that estate planning is about much more than just money; it’s about protecting the people you love and ensuring your legacy is honored as you intend.
Don’t Leave Your Family’s Future in the Hands of a Computer, We Can Help-
Do you need an attorney for estate planning? We think the answer is clear and we’re here to help you. As an experienced estate planning law firm, we can assist you in creating a lasting legacy for you and your family. Our team ensures your loved ones are protected from court disputes and conflicts while aligning your values and wishes into a personalized plan.
We offer Free 30-minute meet and greet for new clients. Please feel free to call our office at (480) 525-6244 or email to info@bizestatelaw.com.
