Saving Money on Cheap, DIY Wills Can Be Expensive
There are many rules about will validity in Alberta. Today, there are quite a few do it yourself or DIY will sites and software out there that promise to make it fast and easy to put together your own estate planning. This is a way for people to get cheap wills. They promise that it’s cheaper than using a wills and estates lawyer and that there is no hassle involved at all. However, they fail to mention that drafting your own DIY will can cause a number of problems and headaches, some of which might only come to light after you’ve passed away and can do nothing about it. You will find that the DIY will has hidden “costs”, even though they might not always be monetary. Here are just a few of the problems:
Outdated Information & Wrong Jurisdictions
How sure are you that the forms you are using have the right information on them? Are you positive the site updates the forms as soon as the laws change? Is the will you downloaded or bought from a national bookstore valid in the province you live? It’s a scary notion, but you could be filling out forms that are not valid or binding legally if this is the case. A DIY will that does not work is not a cheap will. This is the last thing you need.
DIY Wills Do Not Account for Complicated Wills
Often, the DIY will software, or book, in place does not account for some of the most complicated wills out there. Because of these complications, there are always potential “holes” in the will that could lead to problems later, which could add up to the beneficiaries you want in the will receiving nothing in the end, or having the case spend a long time in the probate process. The more complicated the will the greater the need for an actual wills and estates lawyer. These situations can often lead to estate litigation.
Overlooking Important Elements
Even though they tout themselves as being simple and easy to use, the sites can still be complicated, and people may not answer all of the questions correctly. In addition, they may overlook certain parts of the will, which can lead to a number of costly problems down the line. For example, you may not remember to name the guardian for your children, or you may forget a few of your assets. What happens then? It’s better to eliminate the possibility of this happening in the first place by eschewing the DIY will route and getting professional help with your will.
No Legal Advice:
Wills have long term implications. A DIY will keeps you from getting legal advice about the consequences of your choices. Not having legal advice with a DIY will kit can lead to:
- An invalid will
- A will that is contested in court
- A partial intestacy
- Failure of a gift
- Requirement for guardianship orders
False Peace of Mind
While the Internet is great for many things, you will find that too many people blindly rely on what the web tells them. They visit a site that offers to help you make your own DIY will, and they believe that they have a rock solid will in place when they are done. As we’ve seen, that’s not always the case. The problem with these sites and pieces of software is that they are selling you a false sense of security. While they might work for the simplest of wills for someone who has very little in the way of assets and no property, they aren’t the best solution for the majority of people.
The only really good thing about this type of software is that it gets people thinking about their wills. They then need to make the right choice and talk with a lawyer.
Why Hire a Wills & Estates Lawyer
Estate lawyers live and breathe estate law. They know the questions that they need to ask, and they know how to ensure that all of the paperwork is complete and that it gets to the right places. They can help with drafting the will, and even help the executor of your estate after you’ve passed away. The real difference between working with an attorney and getting a professional will and doing it on your own is that you will have true peace of mind when you work with a lawyer. Even though it costs to hire a wills & estates lawyer initially, you will find that there is far less “cost” involved.
A Lawyer Drafted Will Costs Less Than You Think
With flat rate fees, a properly drafted will costs less than you think. You get what you need and your estate may save thousands. The Lawyers at Kahane Law Office in Calgary, Alberta can help with your will needs. Wills have very long term implications and you should have proper advice. CONNECT NOW. We can be reached toll-free at 1-877-225-8817 (or 403-225-8810 locally in Calgary, Alberta), or email us directly here.