There are numerous reasons why a person may put off drafting their final will and testament. Often, people simply feel as if they don’t have the time. In other cases, individuals may think that estate planning matters are just too morbid to think about.
One way that people try to get around this is by drafting their own will. A person may form the opinion that doing so will allow them to save time, cut corners and reduce overall expenses. In reality, the opposite is often true, and here’s why.
Everyone has different wishes
DIY wills tend to be based on generic templates found readily online, but final wishes are not generic. Every family has a different dynamic, and every person has different interests in terms of assets and business matters. The “one size fits all” approach of DIY wills may simply not be good enough to meet your own unique needs.
Instructions need to be clear
For a testator’s wishes to be given full effect, the terms of the will need to be clear. Any ambiguity could create confusion. This opens a will up to legal challenges, which can be drawn out over many months.
State laws tend to vary
When drafting a will, it is pivotal to bear in mind the specific laws of the applicable state. Legal language and requirements can vary between states, meaning that a template designed for one state may be ineffective in another. A legally unenforceable will does you no good in the long term.
Planning for the future is vital for you and those you treasure the most. As you take steps to address your estate plan, be sure to gain a more in-depth understanding of your legal rights in Tenessee.