The Perils of Writing Your Own Will

Will and testament document being signed

A will is a legal document that dictates a person’s wishes when it comes to their property and minor children upon their passing. It is an essential element in a person’s estate plan and is one of the ways a person can ensure that their hard-earned property will later provide financial security for his or her loved ones. The stakes are high and getting it right is critical.

There are numerous free (and paid) options to create a will online. While it feels good to save money when you take a do-it-yourself approach, this does not translate well when it comes to estate planning. There are several ways that writing your own will can ultimately harm your loved ones.

  • Nevada has specific requirements for a will to be enforceable. Without an attorney, mistakes can easily occur in the execution of a will, which requires attesting witnesses and a notary public. If you have wealth and some people want to claim a stake, a self-created will can open the door for those people inclined to contest your will.
  • If a will is determined to be invalid, then a court must then follow the laws of intestate succession instead of the desires you specified in your will. Instead of passing your property to the people you choose, the probate court will instead divide your property by default to your surviving spouse, children, and/or parents based on a pre-determined priority list. As a result, your estate may be distributed in a manner that you did not desire.
  • Using a form or document generator online may create a false sense of security. You may inadvertently exclude key assets or considerations from your will. You want you will be as comprehensive as possible when it comes to identifying your property. Failure to do so can create a situation where your loved ones have to spend unnecessary time and money to fight for what you wanted them to have.
  • A will may not fully suit your estate planning needs. There are other options, like establishing trusts, that can save your loved ones time and money, while also leveraging tax advantages. Speaking with an attorney can help you explore your best options.

Estate Planning Attorneys, Viloria, Oliphant, Oster & Aman L.L.P.

Viloria, Oliphant, Oster & Aman, L.L.P. is a small law firm that provides premium service to our clients. Our attorneys are thorough, knowledgeable, and effective. We understand the importance of crafting a thorough, thoughtful estate plan for our clients. We want our clients to feel confident in the choices they make, and work tirelessly on their behalf. Call Viloria, Oliphant, Oster & Aman L.L.P. today at (775) 227-2280 to schedule a consultation or contact our office through our website.

Related Posts
  • How to Revoke or Update Your Will Read More
  • What Is a Charitable Trust? Read More
  • How an Estate Planning Lawyer Can Help You Read More