Article on DIY Estate Planning

Gerard G. Brew recently published an Article entitled, Commentary of ABA RPTE Taskforce on Do-It-Yourself Estate Planning, November/December Probate & Property (2016). Provided below is an abstract of the Article:

In recent years, do-it-yourself (DIY) providers have emerged in many fields ranging from income tax preparation to estate planning. These services purport to provide, at low cost, the ability to generate computer-drafted documents that may bear some of the hallmarks of professionally prepared documents. Although these services provide tools to enable the DIY project, as with the home improvement world, they should be used with caution.

Those who seek to replace proper professional advice with a DIY online document in complex fields like estate planning should understand the effects of their actions. One should bear in mind that even those with fairly sophisticated skills think twice before venturing beyond their area of expertise. Consider eminent Judge Rifkind’s observation on the subject of tax law that “[a]fter 50 years of practice, I would no more have the audacity to formulate my own tax return than I would engage in open heart surgery.” Simon H. Rifkind, Are We Asking Too Much of Our Courts?, 15 Judges’ J. 43, 50 (1976).

These concerns prompted the ABA RPTE Section to designate a task force to evaluate the use of DIY methods in estate planning. The task force has considered a number of issues, including the reasons why DIY options may be inadequate or incomplete for many individuals. The task force reviewed much of the commentary on DIY estate planning and will publish a more detailed report in the future. This article contains the author’s report summarizing some of the many concerns identified by the task force. The task force comprised this author, Jo Ann Engelhardt, Rochelle Haller, Joseph Hodges, Susan Porter, and Bruce Tannahill. The opinions expressed herein are those of this author, who chaired the task force.