Do you have an estate plan? You should. Estate planning provides much-needed protection. You may be wondering: Can I do my own estate planning? You absolutely have the right to create a DIY estate plan in Pennsylvania. However, it is not the best option for most people. At Keystone Elder Law P.C., we help middle-class people and families find cost-effective, reliable estate planning solutions. You do not have to figure things out on your own. Here, our Mechanicsburg estate planning attorney highlights five big risks of do-it-yourself estate planning.
Risk #1: Using Outdated or Invalid Estate Planning Documents
Estate planning documents can become outdated as life circumstances change. If you create your own plan online, you may not realize when updates are legally necessary. Marriage, divorce, the birth of a child, or the death of a beneficiary all require revisions to ensure your plan is accurate. Outdated or otherwise inadequate invalid estate planning documents can cause serious problems.
Risk #2: Failure to Comply With Pennsylvania Law
Every state has its own estate planning laws, and Pennsylvania is no exception. DIY templates found online often fail to address specific Pennsylvania requirements. Mistakes in signing, witnessing, or notarizing your will or trust may cause the documents to be deemed invalid. You do not want to risk your plan falling out of compliance with Pennsylvania Commonwealth law.
Risk #3: Leaving Assets Unprotected from Long-Term Care Risks
Long-term care costs are one of the primary risks to your assets. Nursing home and long-term care costs can quickly drain an estate. Without careful planning, your assets may be vulnerable to Medicaid spend-down rules in Pennsylvania. DIY estate planning rarely includes strategies such as Medicaid trusts or other asset protection tools. An experienced Mechanicsburg, PA estate planning lawyer can help you craft a proactive strategy that actually works.
Risk #4: An Inadequate Plan for Incapacity
Incapacity planning is an important part of estate planning. Without a durable power of attorney or healthcare directive, your family may need to go to court to make decisions for you. DIY plans often overlook these crucial documents. A Pennsylvania estate planning lawyer can help you put the most effective, comprehensive incapacity plan into place.
Risk #5: Leaving Inadvertent Ambiguities that Lead to Conflict
No person wants to leave their loved ones dealing with a serious conflict. Many estate conflicts are rooted in ambiguities. Unclear language in estate planning documents is a common issue with DIYestions about long-term care planning, Medicaid, or how to access caregiver support services, contact our office today for a private, no-obligation consultation. Based in Mechanicsburg, we proudly serve families throughout Central Pennsylvania.