Do it yourself estate planning could cost your heirs $75,000.

Long H. Duong, Esq. Estate Planning 1 Comment

I am beginning to see more and more Florida probate cases where the inherent problems come from the poorly drafted or executed “do it yourself” Wills, Trusts and Estate Plans.

Yes, there’s a time and a place for bargain shopping, but I’ll never understand how a person who has worked so hard to build an estate, however modest or grand, decides that planning their legacy for their children or heirs should be reduced to a $49.99, off the shelf or online Will and Trust kit.

I’m currently probating an estate and the Codicil (an amendment to a Will) was improperly executed.  The codicil read that the original beneficiaries under the Will were to be removed and replaced by the new beneficiaries in the codicil.

As you might have guessed, the codicil was improperly executed and was held to be invalid.  The originally named beneficiaries stood to inherit the property because of the mistake.  A $75,000 mistake.

Comments 1

  1. Pingback: Do It Yourself Estate Planning Gone Horribly Wrong « Michigan Estate Planning | A Lawyer’s Point of View

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