For many, a New Year’s Resolution may be to finally create your “Estate Plan.” You might be curious about using artificial intelligence “AI” or platforms such as Legal Zoom, Rocket Lawyer, or similar online services to write the plan for you. While these tools are accessible and cost-effective (in the short term), it’s important to recognize more is required.
Believe it or not, to ensure these documents are legally valid and aligned with your intentions, you need a human! This human should have a strong grasp of all estate plan concepts, potential pitfalls, and your state’s law.
Ask yourself:
- How well do I understand options to protect my money, property, family, or business if I have a medical emergency, a short- or long-term incapacity, or after death?
- What is my financial situation regarding property, income, or debt?
- Is my family structure complicated?
- Am I undecided about my wishes (how to divide my money and property, when to distribute it, or what to include in an advanced directive)?
- Will my family get along if my will is unclear?
- Will someone inherit before they understand the value of their inheritance?
- What if your adult child is on the brink of divorce, will the soon-to-be ex-spouse receive anything from an inheritance?
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