A living trust is becoming more and more popular for those who are realizing a will alone will not save them or their families from expensive legal proceedings or probate. The popularity of these trusts is a good thing, protecting people and assets around the country.
However, many people wonder if it is necessary to hire a lawyer to execute these documents, or if they are able to do it themselves using resources from the internet.
While there are many valuable resources online regarding any topic possible, including many legal topics, that would be helpful to you, there is no cookie-cutter or template for Estate Trusts.
In other words, there is no one-size-fits-all Estate Trust template making you susceptible to potentially harmful loopholes if you are creating the document yourself from online resources.
In many cases, people who want to have a hand at creating their own trust will do so with a form that has been generated to comply with laws in all 50 states, without regard to state laws or any individual nuances that may apply to your individual situation. In short, it will not do you or your family any favors, and may cause you to end up spending almost double to have a lawyer correct any issues that may arise.
Think this is all part of a conspiracy with law firms to keep you paying good money for something you could do on your own? You have every right to be skeptical as a consumer, but be sure to check the disclaimers of any product you’re using to create these documents. You’ll find that many of them have similar disclaimers saying that it is not a proper substitute for legal advice. This may, and should raise a red flag!
Educating yourself on any endeavor you choose is always a good idea. However, you cannot be expected to become an expert in Estate Trust laws, both federal and statewide, overnight! Intricate knowledge of the law and experience of an estate planning attorney can help prevent any mishaps in creating these financial structures for you and your family.
Reference: estate.findlaw.com “Do I Need To Hire An Estate Trust Lawyer?”