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Hindsight Can Be 20-20… But Only if You’re Around to See It 🤔 - The Dangers of Self-Help Planning.

Over the years, I’ve seen it so many times. Well intentioned people, hoping to save a few bucks, create their own last will and testament, trust, or other estate planning document, and the result is disastrous. The thing about estate documents is that, most often, you don’t get the benefit of hindsight. Why? Because the mistake doesn’t come to light until it’s too late. At that point, the family is left with the difficult task of picking up the pieces.


Using form legal documents can be problematic, for example, because they fail to include required language or proper statutory references. Financial institutions regularly refuse to acknowledge powers of attorney for this reason. Not knowing which form to use can also be an issue, for instance, thinking a living will allows family members to make medical decisions when, in fact, it does not; instead, it provides end of life care instructions.


Online document assembly programs can offer a little more direction and are generally less expensive than hiring an attorney. The problem, however, is they can never replace the value and experience of a legal professional who’s been trained to identify known traps and pitfalls (which can completely thwart someone’s objectives) and educate clients about available planning strategies and options that can save time and money and avoid potential conflict among beneficiaries.


We offer complimentary estate planning consultations, and we would appreciate the opportunity to learn about your objectives and offer our recommendations to accomplish them. You can reach us at (813) 244-7758 or Ross@RossSpanoLaw.com. And remember, if competent, caring estate planning help is a must, Ross Spano Law is the friend you can trust.


Cheers,


Ross Spano

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