Having an estate plan is one of the best things you can do for your family to ensure your wishes are carried out in the future. However, estate planning is not a one-and-done type of deal. Because if it’s not updated regularly when your wealth, family status, or laws change. Then your plan will be meaningless - it can create its own set of problems that can leave your family worse off than if you’d never created a plan at all.
Savvy business owners recognize the value of contracts but often explore ways to reduce the cost of obtaining them by creating their own contracts using DIY templates available online. This DIY method has become a mantra these days as it can be a great way to save money, however, this method costs more in the long run and is even risky, especially if it is a legal document like a contract. What you do not know can, in fact, hurt you, and the following are examples of the potential risks you face