Thinking About Do-it-Yourself Legal Documents? A Few Reasons Not to Use Pre-Printed Legal Forms

There have been a growing number of websites and stores that provide pre-printed legal forms to consumers ranging from wills to generic contracts.  While these appear to be   inexpensive, fast, and accurate resources, there are a number of problems with using pre-printed legal forms.  Legal documents are the tools we use to protect our rights and our assets.  It is imperative that these tools are utilized properly.  There are a number of issues to consider when thinking about using pre-printed forms.

The accuracy and enforceability of pre-printed forms should be the number one concern when considering whether to use them.  Pre-printed forms are often very generic and do not address specific issues that may arise when drafting legal documents.  Each state has their own set of rules regarding various legal issues.  The variations in state law may appear to be minor differences, but often times those variations are the difference between an enforceable document and a useless document.  Pre-printed legal forms do not accurately reflect these variations and could lead to a bad document that has no legal effect.

Each individual has different needs to address when drafting documents.  Pre-printed forms do not address those needs.  Everyone’s goals are different when drafting contracts, wills, or any other legal document.  The generic language of a pre-printed form does not address your specific needs and may not adequately protect your rights or accomplish your goals.

The origin of pre-printed forms is unknown.  Pre-printed forms do not tell you who created these forms or whether they were created by a legal professional.  Only lawyers have the skill and knowledge to create an accurate and enforceable document.  Pre-printed forms do not disclose where the document came from or whether the person who wrote it has any legal background.

Another important issue to consider when thinking about using pre-printed forms is that you have no one to fight for you if the document is challenged.  These forms often come with disclaimers and no warranties.  Disclaimers should immediately raise a red flag.  The maker of the document has disclaimed any responsibility over mistakes, they have not addressed your specific needs, and once you buy the form they are completely immune.  Having a lawyer draft any documents avoids this problem.  You know it will be done correctly, you have someone to fight for you, and you have someone to take responsibility for the drafting of the document.

Finally, consider that saving money right now may end up costing you a whole lot more than just dollars.  Using pre-printed forms may seem like a way to save time and money, but if a document is challenged or there is a risk that it is unenforceable, the costs of dealing with it in Court can be extremely expensive and time consuming.  Worse yet, the very people you set out to protect and provide for whether you are establishing a succession of business or writing a Will, could end up being the  ones forced to settle avoidable and unnecessary legal issues.  Taking the time to have an attorney review your individual needs and tailor a document at the start can save you or your family costly legal expenses down the road.

Legal documents are a vital tool to protect many areas of our lives, areas that affect our families, our livelihoods, and our hard earned wealth.  It is important that those tools are used accurately and to our advantage to adequately protect and preserve the things we have worked hard to earn and the people for whom we work hardest.

Bankruptcy as Opportunity: A Few Things to Consider

Bankruptcy has long been considered a last-resort option for many people unable to free themselves from the burden of overwhelming financial responsibilities.  Until recently, it carried with it the social stigma of being identified as someone who does not or will not pay their bills.

The truth is, Bankruptcy can be a valuable tool in helping to restore your financial well being and provide you and your family with a fresh start.  Bankruptcy should be considered an opportunity to permanently secure your financial future rather than a quick way to resolve debt.

Sure, there are concerns about how filing for Bankruptcy may negatively affect your credit score or remain on your credit report for years to come. These concerns often overshadow the potential benefits of bankruptcy which may hold you back from making the right choice for your own financial well-being.

Below are some of the positives when considering  Bankruptcy — yes, there are positives! – but remember:   Filing for Bankruptcy can be a  good decision to get control of a very bad financial situation; however,  it is not one that should be rushed.  Consult an expert to determine if Bankruptcy  is the right choice for you and your own unique set of circumstances.

1. Bankruptcy allows you to be free from your current debt.  Depending on the type of bankruptcy you file it will either discharge your debt so that you are no longer responsible for paying it back or you will be placed on a repayment plan that you can afford.
2. Bankruptcy can prevent your property from being repossessed.
3. Bankruptcy stops the debt collection process and creditors must stop attempting to collect debts during bankruptcy…  No more calls and letters from creditors threatening to sue allowing you to catch up financially.
4. Bankruptcy prevents utility companies from cutting off service and requires them to restore service.
5. Bankruptcy stops the foreclosure process and gives you time to catch up on your payments so that you can avoid losing your home.
6. Bankruptcy gives you the chance to dispute claims from creditors and protects you from having to pay false claims or pay more than what you actually owe.
7. Bankruptcy frees you from the stress of how you will pay your bills.  Taking away the worry and anxiety of how you will make ends meet can change your life.
8. Bankruptcy can affect your credit but you will still be eligible for loans and credit after a period of time.
9. Bankruptcy can teach you how to save money, manage credit, and be more financially responsible overall.
10. Bankruptcy gives you a fresh start!

The Importance of Estate Planning at Any Age

Q&A with cdilegal

Q:  I’m only in my mid-thirties. Aren’t I too young to have to worry about this? It’s scary to even think about. 

A:  No one wants to think about estate planning or the prospect of leaving our loved ones, but estate planning can be a useful tool to protect our loved ones after we are gone.  Protecting your estate is a key component of ensuring your wishes are carried out during and after your lifetime.

Unfortunately, difficult times can bring out the worst in people who may not have your best interests or those of your loved ones at heart.   Protecting the things you have worked hard for and ensuring that you and you alone determine who is to benefit from your hard work will provide you peace of mind now and a small, but welcome bit of comfort to your loved ones in the future.

 Q: Isn’t Estate Planning for the Wealthy? I don’t have much to leave behind at all. 

A: No matter how small your estate might be,  planning ahead in a thorough manner allows you to ensure that your property will go to the people you want while minimizing tax liabilities your family would otherwise need to satisfy.    Most importantly, however, it protects your loved ones from the burden of administrative confusion during an emotional time.

Q:  Why should I speak to an attorney about Estate Planning?  Can’t I just write my own Will?

A: Of course it is within anyone’s rights to to do as they see fit when it comes to planning for the future.  Be aware, however, that a Will and an Estate Plan are not the same things.

Nowadays, with everything you  need to draft your own documents just a click away, you really should be cautious about “one size fits all” Estate Planning. Your life, your loved ones and your best interests are unique; your plan should be tailored to your exact wishes in the most iron clad way possible.

Q:  So, if drafting a Will and Estate Planning are not the same things, what exactly is an Estate Plan?

A: All estate plans should include a durable Power of Attorney, a Will, and a Medical Directive.

A durable power of attorney allows a person, of your choosing, to act in your place and make decisions regarding your finances should you ever become incapacitated and cannot make those decisions on your own.  This is an important piece of Estate Planning because if your finances are not protected any gifts in your Will may be lost due to loss of assets.

A Medical Directive will designate someone to make health care decisions for you if you are unable.  This document can encompass a number of scenarios including life support and less severe health issues.  It can also be open ended, allowing the appointed person to decide what treatment you will receive or you can specify in the document what treatment you desire based on a number of given circumstances.  The more specific your wishes the better because this ensures your wishes are being carried out and it lifts the burden from loved ones to make difficult medical decisions during emotional times.

Your Will is a legal document directing how you wish your estate to be divided amongst loved ones, friends, or anyone you wish.  A Will lets you decide who gets your assets rather than the State in which you reside.

A Will also allows you to provide care for your most prized treasures:  your children.  Your Will — as part of  a proper Estate Plan — will ensure that your children are cared for and nurtured well beyond your passing.