The Truth About DIY Estate Planning In New York: Why Online Wills Can Be Risky

In this article, you can discover…

• Whether online wills and estate planning forms are legally valid in New York.
• How DIY estate planning can cause serious problems for your beneficiaries.
• Why an experienced estate planning lawyer is a far wiser choice than online tools.

Are Online Wills Legally Valid In New York?

New York does not yet recognize fully electronic wills as valid. Your will must be on a physical piece of paper, must be typed and not handwritten, and must be signed by you (the testator) in the presence of two witnesses. Keep in mind that the witnesses can not also be beneficiaries; they must be disinterested. The two witnesses, with no more than 30 days of each other, must also sign the will in the presence of testator.

These signatures must be with ink, both you and the witnesses must be over the age of 18 and you must be of sound mind, and not have been under duress (that is, not been pressured or threatened) when you signed the will.

What about online, DIY wills? Though they may seem like a quick solution, we do not advise using them. Many of the websites offering such documents have a broken understanding of the law and of how wills are supposed to be executed in New York, making them more risky.

DIY wills are also more likely to be scrutinized by the courts, leading to delays for heirs. In contrast, if your will is executed under the supervision of an attorney, there is a general presumption that it was prepared and signed correctly.

What Are The Most Common DIY Estate Planning Mistakes?

Many DIY wills are not properly executed. They may lack the signatures of witnesses, or the testator may have used beneficiaries as witnesses, making their witness invalid.

Unfortunately, you could face a situation where one of your intended beneficiaries passes away before you, and your DIY will has no plan for what happens to their share. DIY wills also often fail to plan thoroughly for how assets will pass to younger heirs who are not yet financially responsible or to loved ones with special needs.

In many of these cases, it would have been more helpful to have a trust in addition to a will. A trust can be tailored to only release money when a beneficiary reaches a certain age or a certain milestone, making it a safer way to transfer assets to younger children.

With DIY wills, you have far less control, less certainty, and a higher chance of unforeseen complications. It is far wiser to allow an experienced estate planning attorney to help you draft a binding and comprehensive will.

Attorney Paul Hyl is an accomplished estate planning attorney serving New York. For over 20 years, he’s helped clients just like you avoid the frustrating consequences of a DIY will with tailored planning and insightful, professional direction.

Have questions, or in need of legal guidance? Reach out to Hyl Conte Law, PLLC for an initial consultation today.

How Can Self-Made Wills Lead To Probate Court Delays And Disputes?

Self-made wills will be scrutinized far more closely by a court and are more likely to be disputed by beneficiaries. You must prove to the court that each of the formalities to make a will valid has been met, and this takes time.

Wills must also be very carefully worded and should account for every eventuality. A DIY will might not clarify what should happen if a beneficiary passes away before you. It may also fail to make provisions for what happens if a beneficiary is elderly disabled or incapacitated at the time of your death, which can interfere with any governmental benefits such beneficiary may be receiving. The courts will then have to decide what happens to their share; would it pass onto their children or to your other beneficiaries?

A DIY will often lacks the language that surrounds probate bonds, a type of insurance that protects your estate from being taken advantage of by the executor of your will.

Finally, my law firm has seen many people try to submit unwitnessed handwritten unwitnessed will, known as a holographic will, is only valid in New York under very limited circumstances such as far armed service number on active duty and marines at sea. It can not be probated and will cause delays and disputes.

How Can Improper Beneficiary Designations Lead To Costly Legal Battles?

It is important to understand that your will does not override a beneficiary designation. For example, you may write up your will to leave all of your assets to your children. But you named your oldest child at the beneficiary on a life insurance policy, because they were your only child at the time, only that are child will inherit that policy, not all of your children.

Many people only name a primary beneficiary and fail to name a contingent beneficiary. But if this primary beneficiary passes away first, there’s no backup listed, and those assets will revert to your estate.

I’ve seen cases where a person listed their parents as their beneficiaries, then later got married and failed to update their estate plans to include their spouse. They then passed away before their parents, leaving the parents with everything and the new spouse with nothing.

It is crucial to update your estate plans should you marry and with the birth of every child. Failing to do so could exclude key people or include people you had not intended. Should you divorce, it is important to make sure that your ex-spouse is no longer listed as a beneficiary on any of your assets.

When Should I Consult An Estate Planning Attorney Instead Of Using An Online Tool?

The old adage says, “You get what you pay for”. I like to use a medical analogy: say you have a scratchy throat, a cough, and a low-grade fever. You go to WebMD to diagnose yourself and decide that you probably have an upper respiratory tract infection. If you had the ability to write yourself a prescription for amoxicillin online and take it yourself, you might think this online fix has solved your problem and saved you the expense of a trip to the doctor.

In fact, it’s not just a scratchy throat. You may have pneumonia, tuberculosis, or lung cancer. But you have no way of knowing this, as you never consulted a medical professional. A doctor would have known what other symptoms to look for, would have asked you detailed follow-up questions, and could have ordered X-rays.

The same is true of trying to save yourself money with online legal tools; you would be much better off consulting a lawyer. Don’t try to diagnose yourself on WebMD, don’t try to build a house without a reputable contractor, and don’t try to DIY your estate plans with online tools.

At Hyl Conte Law, PLLC, we are here to help. We have the experience, the understanding of New York law, and the insights to help you avoid critical mistakes, plan ahead for things you may not have considered, and make sure your estate plans are respected and binding.

Still Have Questions? Ready To Get Started?

For more information on the risks of DIY estate planning in New York, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (631) 623-2300 today.