Myths about Wills, Trusts and Estate Planning and What You Should Do

October 28, 2009

Posted In: Do It Yourself Estate Planning Gone Wrong , Estate Planning , LegalZoom , Living Trust , Quicken Willmaker , Suze Orman , Will

By Witzke Berry PLLC on October 28, 2009 11:32 AM | Permalink

There are quite a few myths regarding Trusts, Wills and Estate Planning. A recent USA Today article address some of these myths. The article interviewed two colleagues from WealthCounsel, which is a national association of estate planning attorneys.

The myths that the article addresses include:

Estate planing is only for the rich.
If I die without a Will, everything will go to my spouse.
I have a Will, my estate wont go through probate.
After I create my Last Will and Testament or Living Trust, I'm set.
I could be held responsible for a deceased parent's debts.

You can read the article in its entirety here: 5 Myths about wills, and what you should do.

While overall, the article is well written, I do have one large point of contention. The article suggest that some of the do-it-yourself options are viable, such as Legalzoom, Suze Orman Trust Maker, or Quicken Willmaker. Read some of my past posts on why these options can be even worse than having no estate plan at all.