Denton County Living Well Magazine Winter 2015 | Page 29

The Dangers of
Do-It-Yourself Wills

Courtesy The Ashmore Law Firm, PC

E

very day I work with clients
to prepare their Wills, Estate
Plans, Trusts, Disability Planning, QPRTs, etc. I’d like to
think that my clients find my
work has value in that more of their
wealth is protected from estate taxes,
creditors and lawsuits.

1. Trusts - Your Will may create
trusts, to achieve your goals, protect your children, and incorporate
tax planning and asset protection.
These trusts can be difficult to set
up properly without legal guidance
to ensure your goals and objectives
are actually met.

When people ask me what I think
about online do-it-yourself Wills, my
immediate response is: don’t do it.
With my experience, not only in estate
planning but also probate litigation,
Will contests and trust litigation, I have
seen how these do-it-yourself Wills go
horribly wrong.

2. Minors - Your Will should protect your minor children and designate their guardians.

I cannot unequivocally say that a do-ityourself Will does not work. There may
be certain situations it works just fine.
But, as the Will won’t take effect until
after your death, you won’t know if it
worked. If it does not work, your loved
ones will suffer the consequences.
With that said, congratulations! You’re
taking the first step and deciding to get
your Will done. What you do next is
completely up to you; however there
are a few things to consider:

3. Formalities - These formalities
include supervision of the execution
of your Will, ensuring proper witnesses and notary are present, and
ensuring all signatures and initials
are proper. These formalities are
best supervised by someone with legal experience.
Did you know that in the State
of Texas, if your Will does not
meet certain requirements, it
may not be valid?
The following reasons explain why it
may be better to hire a lawyer rather
than handling your Will yourself.

4. Ancillary Documents - In addition to creating the proper Will,
you need to determine if the ancillary documents are necessary.
These include powers of attorney,
HIPAA releases, designation of
guardian, etc. An attorney will be
able to advise you on these documents as well.

For more information on Wills & Estate Planning, request our free book, Do I Really Need a Will?
Go to www.ashmorelaw.com/reports/free-do-i-really-need-a-will.cfm to get your FREE copy!

DENTON COUNTY Living Well Magazine | WINTER 2015

27