New York Estate Planning & Elder Law Blog
While we don’t like to confront the thought, none of us lives forever. When we pass, we understandably want to leave as manageable a situation as possible for our loved ones. If we fail to create estate plans, our loved ones can end up facing many obstacles.
Understandably, we want the estate planning process to be as quick and easy as possible. While online estate planning options are widely advertised, these choices often leave people with various questions including whether the documents will hold up in court, whether the electronic documents will conform to state law, and if the documents will successfully achieve your estate planning goals.
This article reviews some issues with electronic estate planning documents that people commonly wonder about.
Unique Estate Planning Issues
Estate planning documents introduce a range of unique issues including survivorship, which involves updating your will to state that if a person passes away, you want you to share to pass to their children. A person can also utilize contingencies when you have a written plan.
Electronic Estate Planning Is Not Everyone
Electronic estate planning is not a suitable option for everyone. Some people need to go to an attorney and might feel more at ease doing so. If you have a high net worth or need complex estate planning performed, electronic estate planning is not a good choice. As a result, electronic estate planning will never completely substitute the traditional way in which estate planning documents are written.
When You Should Consider Estate Planning
Many people think that estate planning is something done exclusively by older people. In reality, anyone who is over the age of eighteen should consider creating an estate plan. Everyone owns something and has plans about what should happen after they pass away. Furthermore, it’s an unfortunate truth that tragedy occurs every day that claims the lives of younger people. Various events including buying a house, having a baby, or inheriting assets can get people considering the role of estate planning, though.
If you do not have a written estate plan, the issue is that your estate will be handled in accordance with default rules addressing who is in charge, who inherits the assets, and who should function as the administrator.
What’s the Biggest Misconception about Electronic Wills
Fearfulness exists about whether electronic wills are valid. Any person can go online and find a form poised as an electronic estate planning document. While it is risky to download a generic form online and use that for estate planning, a skilled estate planning attorney can help you complete an estate planning document that appropriately outlines your wishes and conforms to state law. Remember, not all online state planning documents are created equal.
Contact a Compassionate Estate Planning Attorney
Estate planning is challenging. If you or a loved one needs help with estate planning, one of the best things that you can do is contact an experienced attorney. Do not hesitate to contact Ettinger Law Firm today to schedule a free case evaluation.