• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset & Business Planning
    • Dental Practice Law
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Medicaid and Elder Law
    • SECURE Act
    • Special Needs Planning
    • Trust Administration
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veteran’s Benefits
  • Resources
    • DocuBank
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
      • Elder Law Resources
        • Carmel, Indiana Elder Resources
        • Fishers Indiana Elder Law Resources
        • Greenfield, Indiana Elder Law Resources
        • Greenwood Elder Resources
        • Indianapolis Elder Law Resources
        • Lawrence Elder Law Resources
        • Plainfield Elder Resources
        • Zionsville Elder Law Resources
    • Estate Planning
      • Estate Planning Checkup
      • Estate and Gift Tax Figures
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Asset Protection Planning
        • Business Succession Planning
      • Elder Abuse
      • Elder Law
        • Medicaid
        • Medicaid Planning
        • Planning for Long-Term Care
      • Estate Planning
        • Avoiding Estate Taxes
        • Frequently Asked Questions for Families Without an Estate Plan
        • LGBTQ Estate Planning
        • Women and the Need for Estate Planning
      • Financial Planning
      • Incapacity Planning
      • Legacy Wealth Planning
      • Pet Planning
      • Philanthropy in Your Estate Plan
      • Probate
      • Power of Attorney
      • Small Estate Administration
      • Trusts
        • Trust Administration
        • Trust Administration
        • Serving as Executor
      • Understanding Your Social Security Retirement Benefits
      • Wills
        • Contesting a Will
    • Newsletter
    • Pre Consultation Form
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss Of A Loved One
      • Probate Resources
        • Carmel, Indiana Probate Resources
        • Greenfield Probate
        • Greenwood Probate
        • Indianapolis Probate
        • Plainfield Probate
        • Indiana Probate
        • Zionsville Probate
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Areas We Serve
    • Boone County
      • Lebanon
      • Zionsville
    • Hamilton County
      • Carmel
      • Fishers
    • Hancock County
      • Greenfield
    • Hendricks County
      • Brownsburg
      • Plainfield
    • Johnson County
      • Franklin, Indiana
      • Greenwood
    • Marion County
      • Central Indiana
      • Indianapolis
  • Blog
  • Contact Us

Frank & Kraft, Attorneys at Law

Indianapolis Estate Planning Attorneys

CONNECT WITH US TODAY(317) 684-1100

Attend a Free Workshop
Home » Learn How an Estate Planning Attorney Can Help You Avoid Common Mistakes

Learn How an Estate Planning Attorney Can Help You Avoid Common Mistakes

July 21, 2016Estate Planning in Indianapolis

Have you been thinking about using any of the many online estate plan tools you’ve encountered? They may be inexpensive, but you could be setting yourself up for disaster if you don’t take the time to consider how even a small mistake could render your plan all but useless.

When it comes to estate planning, the internet is sometimes viewed by many as a suitable alternative to the professional assistance traditionally relied on by people who need to craft wills, trusts, and other important documents. There are a whole host of sites out there that provide so-called do-it-yourself (DIY) tools that promise readers the ability to simply fill in a few blanks and prepare their own professional documents. While this might seem like a great option for anyone who wants to avoid paying an estate planning attorney to prepare an effective estate plan, the fact is that these alternatives to seeking professional legal advice can prove disastrous at times. For a variety of reasons, an estate planning attorney is the best way to avoid the common mistakes that could invalidate your DIY plan.

Knowledge of the Law is Crucial

The laws governing probate, estate tax, and other estate planning matters can vary dramatically from state to state. Without knowledge of the laws and the processes used in your state, you could make mistakes that leave your assets unprotected. That could cause your entire plan to be open to legal challenge when you die. In the case of wills, that could result in the will being found to be invalid. Your assets would then be dispersed in accordance with the state’s intestate laws rather than according to your personal wishes.

An improperly-designed trust could fail to protect assets and leave them subject to probate. Unless you know the relevant legal standards, you can never be sure that the documents you create will withstand legal scrutiny. Even small and seemingly minor errors in these documents can create long-lasting complications for your heirs or added expense for you if you have to have an attorney fix the problem.

Will or Trust: Do You Know Which One You Need?

Without legal guidance, many people will also struggle to determine which asset protection strategies they need, and the proper way to declare their asset distribution preferences. While someone with few assets might not worry about whether or not his or her estate plan goes through probate, a person with more substantial wealth will want to secure those assets and protect them from false claims, waste, and a lengthy court-supervised process. How can you know whether your estate can get by with just a will? What do you need to do to create a trust that is guaranteed to meet your needs?

An attorney can help you to navigate the confusion and choose the right options to secure your assets and protect them from loss when you die. He or she can help you to decide between wills and trusts, and can help to prepare documents that will withstand legal challenge and accomplish your goals. And while this preparation can be somewhat costlier than those DIY options, you gain added benefit from the peace of mind that comes from knowing that you’ve properly planned for all those end-of-life concerns.

Wealth Management Done Right

Those online forms cannot provide the help you need in a number of critical areas. For example, they cannot provide the comprehensive legal advice you’ll need to ensure that the provisions of your will are found legally binding. Nor can they assist you in properly funding a living trust and establishing the appropriate strategy for managing the wealth in that trust when you die. They certainly cannot assist you in ensuring that your estate plan is designed in a way that allows your assets to continue to work for you while you are alive. Only a professional lawyer can provide the legal guidance and strategic help you need to properly manage your wealth in a way that benefits you and your heirs over time.

Online DIY Plans Lack the Flexibility You Need

While you can find power of attorney forms and Medicaid planning information online, those resources will never have the flexibility you need to adapt them to your own unique circumstances. If there is one thing that is as true in estate planning as it is anywhere else in life, it is that we are all different from one another. Those differences necessitate different approaches to each individual’s long-term estate planning efforts. No simple fill-in-the-blank, one-size-fits-all online resource can ever provide that flexibility.

The last thing you want to do is get to your senior years and suddenly find out that you cannot qualify for Medicaid nursing home assistance because some document you filled out years before wasn’t up to the task. Nor do you want to find yourself incapacitated and suddenly learn that your power of attorney documents won’t meet your needs due to technical errors in their creation. For all of these important planning documents, proper preparation is a necessity.

Many Attorneys Don’t Object to Online Services

There’s something else that you should consider as well: a great many attorneys never bother to complain about online do-it-yourself legal documents. Given that these services represent competition for lawyers, that should cause most of us to wonder why so many attorneys seem so comfortable with DIY legal services. The answer is fairly simple. Because these self-help tools are so routinely inferior to actual legal guidance, the people who use them often have to consult with attorneys anyway. They eventually realize that they need an actual lawyer to straighten out the mess created by the DIY wills and trusts.

At Frank & Kraft Attorneys at Law, our legal team can help to ensure that you get the guidance you need to avoid the most common mistakes people make when they attempt estate planning on their own. We serve clients throughout Indianapolis and the surrounding area, providing the high-quality representation they need to protect their interests and accomplish their legal goals. To find out how an experienced estate planning attorney can help you avoid mistakes in your own plan, or to receive guidance and assistance on other estate planning and elder law issues, call our office at (317) 684-1100 or contact us through our website today.

  • Author
  • Recent Posts
Paul A. Kraft, Estate Planning Attorney
Paul A. Kraft, Estate Planning Attorney
Paul Kraft is Co-Founder and the senior Principal of Frank & Kraft, one of the leading law firms in Indiana in the area of estate planning as well as business and tax planning.

Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
Paul A. Kraft, Estate Planning Attorney
Latest posts by Paul A. Kraft, Estate Planning Attorney (see all)
  • Updated Federal Gift and Estate Tax Figures for 2023 - January 26, 2023
  • Why Estate Planning Is Important for Multi-National Couples - January 24, 2023
  • When Do I Need to Update a Trust Agreement? - January 19, 2023

Other Articles You May Find Useful

intestacy
What Are The Rules of Intestacy?
inheritance planning attorney
Why it’s Important to Consider Your Heirs When Making an Inheritance Plan
It’s never too late to get started with your estate planning, but not just any plan will do. For the best results, you need to rely on an Indianapolis estate planning law firm.
Can an Indianapolis Estate Planning Law Firm Work for Your Planning Needs?
Have you thought about how taxes, inheritance laws, and other factors might impact your ability to keep your wealth in the family when you die? These tips can help to ensure that your loved ones get the inheritance you want them to have.
Estate Planning Tips for Indianapolis Residents to Keep Wealth in the Family
Are you thinking about estate planning but find yourself worried that Indiana inheritance laws are just too complicated to understand? This overview of common inheritance concerns can help.
Essential Estate Planning Facts: An Overview of Indiana Inheritance Laws
Estate Planning: Put the Procrastination Behind You in 2016

Primary Sidebar

Frank & Kraft, Attorneys at Law

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube

Blog Subscription

Where We Are

Frank & Kraft Attorneys at Law
135 N. Pennsylvania Street Suite 1100
Indianapolis, IN 46204-2485
Phone: (317) 684-1100
Fax: (317) 684-6111

See Larger MapGet directions

Office Hours

Monday8:00 AM - 5:00 PM
Tuesday8:00 AM - 5:00 PM
Wednesday8:00 AM - 5:00 PM
Thursday8:00 AM - 5:00 PM
Friday8:00 AM - 5:00 PM

Map

frankkraft_sidbr_map

Footer

  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
footer-logo

Frank & Kraft Attorneys at Law
Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.

© 2023 · American Academy of Estate Planning Attorneys, Inc. | Disclaimer | Privacy Policy | Sitemap | Contact Us