What is the procedure for creating an estate plan?
We recommend contacting an attorney who is licensed to practice in the state where you reside or where you hold significant assets. However, you can also use pre-printed forms or software. However, you should take extreme care if you prepare your own estate plan. We find that estate plans prepared without professional assistance often lead to unclear directions and disagreements, which may include legal disputes. Also, beware of any “Estate Planning Seminar,” in which a low, flat fee is offered for the preparation of a trust. These are often “cookie-cutter” trusts and can be associated with people who are trying to sell annuities or life insurance. Be wary of anyone who tries to combine the sale of an estate plan with any other financial matter. A properly prepared estate plan can save you and your family many thousands of dollars, so if you can afford professional legal advice, we do not recommend the cheaper or more questionable alternatives.
