When Something is NOT Better Than Nothing—Part 2

Serving New Braunfels, San Marcos, and Seguin with Exceptional Estate and Business Planning

By Beverly Davidek

Nov 12
Davidek Will

You might think you can save time and money by using do-it-yourself estate planning documents you find online. You’re probably anxious to check estate planning off your life’s to-do list, and these forms offer a seemingly quick and inexpensive way to handle this important task.

You may even realize such generic plans aren’t as high quality as those drafted with an attorney’s help, but with your hectic schedule, a DIY will is just way more convenient. Besides, having “something” in place is better than having nothing, right?

Unfortunately, this is one case in which SOMETHING is not better than nothing.

Indeed, the false sense of security offered by DIY wills can lead you to believe you have things covered and no longer have to worry about estate planning. The reality, however, is that such generic forms could end up costing the loved ones you leave behind more money and heartache than if you’d never gotten around to doing anything at all.

In this way, DIY wills and other legal documents are among the most dangerous choices you can make for the people you love. In part one, we discussed the many ways DIY plans can fail to keep your family out of court and out of conflict, and here we’ll explain how these generic documents can leave the people you love most of all—your children—at risk.

The people you love most

It’s probably distressing to think that by using a DIY will you could force your loved ones into court or conflict in the event of your incapacity or death. And if you’re like most parents, it’s probably downright unimaginable to contemplate your children’s care falling into the wrong hands.

Yet that’s exactly what could happen if you rely on free or low-cost fill-in-the-blank wills found online, or even if you hire a lawyer who isn’t equipped or trained to plan for the needs of parents with minor children.

Naming and properly documenting guardians entails a number of complexities that most people aren’t aware of. Even lawyers with decades of experience frequently make at least one of six common errors when naming long-term legal guardians.

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What could go wrong?

If your DIY will names legal guardians for your kids in the event of your death, that’s great. But does it include back-ups? And if you named a couple to serve, how is that handled? Do you still want one of them if the other is unavailable due to illness, injury, death, or divorce?

And what happens if you become incapacitated and are unable to care for your children? You might assume the guardians named in the DIY will would automatically get custody, but your will isn’t even operative in the event of your incapacity.

Or perhaps the guardians you named in the will live far from your home, so it would take them a few days to get there. If you haven’t made legally-binding arrangements for the immediate care of your children, it’s possible – maybe even likely -- that your kids will be placed with Child Protective Services until those guardians arrive.

Even if you name family who live nearby as guardians, your kids are still at risk because it’s possible they might not be immediately available if and when needed.

And who even knows where your will is or how to access it?

There are simply far too many potential errors you can make when you go it alone.

The Kids Protection Plan

To ensure that your children are never raised by someone you don’t trust and that your children are never taken into the custody of strangers (even temporarily), consider creating  a comprehensive Kids Protection Plan®, which I am trained and licensed to counsel you through and prepare.

If you have minor children at home, you should immediately use this resource to get started, and then schedule a follow-up visit with me to put the full Kids Protection Plan® in place.

Get the right "something"

Protecting your family and assets in the event of your death or incapacity is such a monumentally important task you should never consider winging it with a DIY plan. No matter how busy you are or how little wealth you own, the potentially disastrous consequences inherent in such plans are simply too great—often they’re not even worth the paper they’re printed on.

Plus, proper estate planning doesn’t have to be super expensive, stressful, or time consuming. Working with me, planning will not only be as stress-free as possible, but I offer options for all budgets and asset values.

What’s more, many of my clients actually find the process highly rewarding. In my office, we pride ourselves on being able to provide the type of peace of mind that comes from knowing that you’ve not only checked estate planning off your to-do list, but you’ve done it using the most forethought, experience, and knowledge available. 

Act now

If you’ve yet to do any planning, contact me to schedule a Family Wealth Planning Session. This evaluation will allow us to determine if a simple will or some other strategy, such as a living trust, is your best option.

If you’ve already created a plan—whether it’s a DIY job or one created with another lawyer’s help that’s more than a few years old—feel free to contact me to schedule an Estate Plan Review and Check-Up. I’ll make sure your plan is not only properly drafted and updated, but that it has all of the protections in place to prevent your children from ever being placed in the care of strangers or anyone you’d never want raising them. 

No matter what you do, make certain you have a “something” that’s actually better than nothing.

This article is a service of Beverly R. Davidek. I don’t just draft documents; I ensure that families and business owners make informed and empowered decisions about life and death, for themselves and the people they love.