“do it yourself” is good for some things, but not so good for other things…
June 13, 2013 - Posted by: admin - In category:
What sort of items fall under the “do it yourself” category and what things are definitely NOT under that description?
Home Depot and Lowe’s have grown to become massive enterprises largely by appealing to the “do it yourself” mantra. It is certainly true that for many things, it is more economical and just plan better to “do it yourself”. However, for other items, it is far more wise (even essential) to seek specialized, qualified professional help. What sort of things, you ask? Here are a few obvious ones (i.e. things you should NOT do yourself):
- brain surgery
- heart surgery
- any other surgery
- deal with a violent psychopath
- build a rocket
- liberate a captive nation
- defuse a nuclear bomb
- train a concert violinist (unless you are one yourself)
- sky diving training, as well as parachute manufacture and packing
- flight training
You get the idea. So, for many things, we are able to recognize the necessity for specialized training and expertise. What about estate planning? Is estate planning something you should do yourself, or is it something that requires qualified and competent expertise? You know where we stand on the issue (being qualified specialists), but just know that along with intellectual property, estate planning is certainly among the most complex and most-often changing areas of the law. Further, estate planning is something that EVERYONE needs to address and it can involve large sums of money. For example, if you “get it wrong” in the area of estate planning, at very least, it could result in significant extra fees and expenses (court fees, attorney fees, accountant fees, etc.). In the worst case, making a mistake in the area of estate planning (or just not having an estate plan at all) can sometimes cost tens of thousands of dollars or even more. Yes, the area of estate planning can sometimes be “high stakes” indeed.
But even if large sums of money are not at issue, estate planning deals with things that are closest to a person’s heart–the people they love and their hard-earned property. Understanding this, who would not want wish to obtain the very best possible counsel and expertise to ensure that their loved ones are protected and taken care of, now and in the future, and their property will be likewise protected and directed according to plan?