Is LegalZoom Good for Living Trust?
Living trusts have become an increasingly popular estate planning tool, providing individuals with a way to manage and distribute their assets in a more controlled and private manner. As a result, many people are turning to online legal services like LegalZoom to help them create these trusts. But is LegalZoom a reliable choice for setting up a living trust? In this article, we will explore the advantages and disadvantages of using LegalZoom for living trusts to help you make an informed decision.
Advantages of Using LegalZoom for Living Trusts
1. Ease of Use: LegalZoom offers a user-friendly platform that guides you through the process of creating a living trust. This can be particularly beneficial for individuals who are not familiar with legal jargon or estate planning procedures.
2. Cost-Effective: Compared to hiring an attorney, LegalZoom can be a more affordable option. The service provides flat-fee pricing, which can make the process more accessible to those on a budget.
3. Customizable Templates: LegalZoom offers customizable templates that allow users to tailor their living trusts to their specific needs. This can be helpful for individuals with unique estate planning goals.
4. 24/7 Customer Support: LegalZoom provides customer support via phone, email, and chat, which can be invaluable when you have questions or need assistance with your living trust.
Disadvantages of Using LegalZoom for Living Trusts
1. Limited Legal Expertise: While LegalZoom offers forms and templates, it is not a law firm, and the individuals providing support are not attorneys. This means that they may not be able to provide the same level of legal expertise as a qualified attorney.
2. Potential for Errors: Without the guidance of a legal professional, there is a higher risk of errors in the living trust document. These errors could lead to disputes or complications during the probate process.
3. Limited Personalized Service: LegalZoom’s services are based on templates, which means that you may not receive the same level of personalized attention that you would from a private attorney.
4. Limited State-Specific Information: LegalZoom offers services in all 50 states, but the laws and requirements for living trusts can vary by state. While LegalZoom does attempt to accommodate these differences, it may not be as comprehensive as a local attorney who is well-versed in state-specific estate planning laws.
Conclusion
In conclusion, LegalZoom can be a good option for individuals looking to create a living trust, especially if they are on a budget and prefer a self-service approach. However, it is important to weigh the advantages and disadvantages carefully, considering the potential for errors and the limited legal expertise provided by the service. For those with complex estate planning needs or those who prefer personalized legal guidance, consulting with an attorney may be the better choice.
