Doing your own living trust is a bad idea. That's all there is to it. Even if you are an attorney specializing in estate planning and particularly in living trust, doing your own living trust is still a bad idea.
Even if you are an estate planning attorney, who knows all the ins and outs of trusts, it still is probably a bad idea to do your own living trust. This is because all of us are naturally subjective about our families and the things we are going to bequeath to them. You can also look Living trust attorney in Alexandria for more knowledge about living trust.
The objectivity that a professional who is experienced and impartial can give is valuable. There are likely things that are obvious to an outsider that we won't see because we are too close to them.
· You may be unaware of certain laws that can affect your living trust immensely.
· In executing a trust, certain formalities have to be adhered to. Witnesses, notaries and some other procedures are mandated by some states.
· Setting up your own trust can cause more problems than it solves. And it is likely that most of the problems won't even be discovered until after your death and it is too late to do a thing about it.
· This is not a pleasant thought but it is the truth – if malpractice is committed by your attorney, there is someone for your estate to file a lawsuit against to recover what was lost because of the malpractice.