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Save a penny with estate planning... lose a fortune?

Writer's picture: Margrit Lent ParkerMargrit Lent Parker

Older woman with her face in her hands, worried

Heard a powerful phrase the other day: “Save a penny, lose a fortune.” This is applicable in many aspects of life, but especially so when it comes to people shortchanging themselves on the legal service they really need.

 

When it comes to estate planning (planning for incapacity and death), consumers see a huge range of costs for services, especially if they compare online forms services with the cost of seeking advice and assistance from a real lawyer. But there is no real comparison here. The question to pose: “What is the value I am getting?”

 

For example, online form websites give no personalized assistance with decision making and can contain serious, consequential errors. We see them. We have had clients hire us after paying for them, worried that what they got isn’t a good product – and they were right. The documents nearly always have problems, whether because they are poorly written, don’t work in Colorado, or could not accommodate a person’s complex needs, or because the individual didn’t know how to input the data for their unique situation, all resulting in documents that they didn’t realize would do something very different from what they actually wanted. The entire process is incomplete and confusing. This is the opposite of protecting yourself and your family when it comes to planning for incapacity and death.

 

By comparison, when clients work with us, they receive:

 

  • Thorough and thoughtful review of your personal financial and family circumstances (no two individuals are the same);

  • Advice drawn from extensive knowledge and experience;

  • Collaborative strategizing with you so that you can make fully informed and confident decisions about your estate plan;

  • Skilled preparation of documents that will actually do what you intend;

  • Long-term relationship with a lawyer who knows you and is there for you and your family as you experience life changes, as your estate planning strategy changes and documents need updating, and as your family experiences a loved one’s incapacity or death.

 

When choosing how to complete your estate planning, ask yourself, "Am I getting what I need so that I and my family feel fully informed and prepared?"


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As always, please remember that these informational updates are not legal advice about your specific circumstances and are not a substitute for obtaining legal counsel on any questions you have about your specific circumstances. Let us know if you have any questions! 


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