Your Guide to Debt and BankruptcyYour Guide to Debt and Bankruptcy

About Me

Your Guide to Debt and Bankruptcy

About 10 years ago, I secured my dream job with one of the largest corporations in the country. The job came with a substantial increase in pay and I soon looked for a large house for my family. After living the life I dreamed of, I was let go from my current position. I had a large amount of savings, but the economy took a turn for the worse and savings were quickly drained. I soon became stressed about finances. I could not pay the mortgage and bill collectors started to call my house. I refused to be defeated though, so I met with a bankruptcy attorney instead. I live a much simpler life now with my family, and I want you to know that financial stress does not have to affect you for years. Read my blog to learn about bankruptcy, debt laws, and how to hire an attorney.

Should You Create A DIY Will Or Seek Professional Assistance?

Has the time come when you feel ready to create a will, but you're unsure of the best method to do it? You can try one of the DIY approaches to create a will by using forms online, or you can use a lawyer to help you draft the will. Both methods have their own pros and cons, which is why it's important to know what they are.

DIY Will Creation

The DIY approach to creating a will can be incredibly cost-effective. However, it may be best for people that have a very straightforward estate without the need to get into specifics. While DIY forms offer you some flexibility, you may feel quite limited in what the forms allow you to do. 

Many people like a DIY will because they can do it on their own terms and in the comfort of their own home. When changes come up in life that require changes to the will, it's very easy to update a DIY will on your own without the help of a lawyer.

However, you lack the expertise of working with a professional when creating a DIY will. You may run into situations where you don't know how to make the changes that you want and end up with a will that is not written in the correct way. 

Professional Will Creation 

When you select a lawyer to help draft your will, the process starts with sitting down for a consultation. The lawyer is going to ask questions about your estate planning needs, what you hope to accomplish by creating a will, and determine the best approach to take for the drafting process. 

A huge advantage of working with a professional is that you know that you will create a will that's legally binding. It can give you some much-needed peace of mind that the will was created correctly and without errors that will lead to complications. You will also know that your will is comprehensive and covers everything that needs to be covered.

The downside to professional will creation is the cost since it will end up being more expensive than any DIY solution. You also lose the flexibility of making simple updates to a will and likely need to return to your lawyer when necessary. 

If you're unsure if a lawyer is the best way to create a will, be sure to meet with one in your area for a consultation. For more information, contact a will attorney near you.