There is plenty of software out there.  Quicken, Suze Orman, LegalZoom, etc. are all vying for your money.  For almost everybody, using this software is a mistake and I predict that in the next decades because of this software, there is going to more litigation over wills and trusts than ever before.  Thus, instead of paying an attorney to prepare an effective estate plan, there will be two (or more) attorneys involved in litigating an estate in a California probate court.  (In California, probate court is where disputes over living trusts and wills are heard).  The costs of litigation are rarely cheap.  Moreover, the damage to the families involved will be incalculable.

What are some of the problems in doing it yourself?

Because most of the online wills and trusts or kits are created for people in all 50 states, they do not take into consideration differences in the states.  For example, California is a community property state.  A California attorney has the ability to inform you of the laws in California that are different from other state’s laws.

Most states including California have laws concerning the execution of Wills and Trusts.  In the event those laws are not complied with, the Will or Trust might be considered to be invalid.

One of the biggest mistakes people make is not coordinating their estate plan and thinking about the ramifications of their specific gifts.  People call me in Los Angeles – they may be calling me from anywhere in California or from another state, and tell me that they were accidentally disinherited by their father.  For example, they were to receive a certain account, but the account was not part of the estate at their parents’ death. 

Another problem that is often not anticipated is the death of a beneficiary before the person making the trust or will.  What happens then?  People often assume things that turn out to be false.  On the other hand, frequently self-drafted trusts and wills are vague and do not answer questions concerning the payment of taxes and expenses.

Preparing a will or trust might seem easy, but you will never know if you mess up.  It is not like fixing your car where you know right away if you did it correctly.  Most of the time you will be long gone and your heirs and beneficiaries will be fighting.  Sometimes you will be gone and one of your children will lose out because of a mistake that you made!

In the event that you live in southern California and want your estate to avoid litigation after you are gone, contact me.  In the event that someone has already passed, and a probate is required, I can help as I handle probates throughout the state.