Most people know the phrase "Do It Yourself" or “DIY.”
For me, “Do It Yourself” calls to mind weekend trips to Home Depot and learning how to do something new instead of paying someone else to do it.
Also Pinterest. It calls to mind Pinterest.
That’s part of what makes DIY projects so great: Who doesn’t love saving money and feeling proud of something they did themselves?
But there is a limit to what you can do yourself, right?
I can do some home improvement stuff myself, like painting walls or breaking the nice faucet on the kitchen sink.
However, things would get really dicey if I tried to act as my own plumber, excavator, or electrician without proper training and experience.
Doing those tasks incorrectly could have disastrous consequences.
The same is true of "Do It Yourself" estate planning:
A poorly designed estate plan can lead to massive probate expenses, family infighting (and ruined relationships), having your legal documents rejected, and much, much more.
The Dangers of “Do It Yourself” Estate Planning
If you aren’t familiar with “Do It Yourself” estate planning, here’s how the process usually goes: