One Size Fits All Estate Planning ... Doesn't Exist

I saw an opportunistic ad on Facebook this morning for Suze Orman’s will and trust package. The whole package was less then $100.00.   While I happen to agree with Suze on many points, I disagree that her will and trust package is something you should purchase. 

First, will you actually follow the steps to completing the package or will it be like one of those work out videos we bought, swore we were going to use, tried once… maybe twice and are now collecting dust. 

Second, is it tailored to your specific situation? Second marriage, children from prior marriage, children with special needs, spendthrift issues, estate tax issues…. I could go on almost endlessly about all the issues that these “one size, fits all packages” do not address.  You wouldn’t necessarily know there are available options to better protect your family.  That is what legal professionals are here for. Don’t hire your friend of a friend …. because all lawyers are expected to know how to draft and execute a will…. instead find a lawyer with years of experience in the specific areas of estate planning and elder law. 

Is something better then nothing?  Well I am going to give you the typical lawyer answer… it depends. Sometimes, something is better than nothing, but something done incorrectly is the same as nothing. So do me a favor, listen to Suze Orman, she has a lot of good ideas for getting rid of debt, what debt to pay off first, saving for a rainy day, using a revocable trust instead of a will;  but seek a qualified lawyer to help you get your legal affairs in order.