Why You Shouldn’t Use AI to DIY Your Estate Plan
June 20, 2024 – Barry D. Siegel, Esq.
Artificial intelligence (AI) has become one of the most talked about trends today. It seems to be able to do everything from writing a text message to completing a college essay. Yet, there is one place it does not belong: that is in anything related to legal documents and contracts. Our Estate Planning Attorneys are the first to tell you that this is such a critical process that you simply cannot take the risks that AI presents (and there are many).
Consider What Your Estate Plan Does and Means
An Estate Plan provides a plan outlining clear control over your assets, investments, decisions and even your care. If something happens to you and you cannot communicate your wishes, who will make decisions about your health, pay your mortgage or provide care for your children?
An Estate Plan is a complex set of highly specialized legal strategies designed to keep you in control over what happens after your death. With this tool, you are trying to anticipate all of the potential scenarios in what may affect you and your family members.
Why Does AI Pose a Risk to The Estate Planning Process?
Estate Planning Attorneys work closely with clients to develop a true understanding of their needs and goals. When you consider what you are doing when you create such a plan, you really must utilize human emotion and thought.
That is, this is a very personal and often emotionally charged process. The decisions are not always based on black-and-white facts. What worked for someone else may not apply in your situation.
It is true that AI tools can develop basic contracts and write a generic document. However, they cannot provide any personal insight and nuances of local laws and customs. More so, they only work by extrapolating information from another source and based on the past. That means AI DIY Wills and Estate Plans cannot anticipate what is to come in the future – or protect the future of your loved ones.
Legal Expertise Is Critical
AI works by using information available across the internet or digital tools. No matter how much legal information you dump into an AI tool, there is no way for AI to provide personalized, specific knowledge, advice and expertise to the decision-making process needed to construct a legally binding Estate Plan that protects your legacy and your loved ones. There is no way for AI to replace the expertise and individualized attention that you need for such critical goals.
This Is Confidential Information
Another important component of an Estate Plan is what is actually contained within your documents. This information in your Estate Plan is protected and private until after your death. You may not want anything else to have access to that information. You also do not want anyone else to gain access to your personal information, including through hacking.
While AI tools can be helpful in drafting some documents, when you input your personal information into an AI tool it becomes public knowledge, and there is going to be a risk that this data is accessed by the wrong people and that, ultimately, your information is exposed. These are huge risks that simply cannot be overlooked when it comes to planning your estate. Do you really want anyone – especially a database that can be manipulated – to make these decisions for you and potentially share those details with others?
Analysis and Interpretation Are Complex Topics
As you consider how your Estate Plan will protect your family, think about the complexity that is often present in these documents. There are complex elements of tax law that must be a consideration. You must also determine how laws relate to your assets and future. While an AI tool can spit out information, it cannot provide the same level of human analysis and consideration.
Estate Planning is time-consuming because it is such an important task. While a computer can take the information you provide and formulate it into a “plan,” it cannot make decisions for you about the best way to handle tax obligations or how to deal with your child’s specific needs or desires. For that, you need an experienced, trusted legal advisor to guide you through the process.
Ethical and Moral Decisions
It is important not to overlook the ethical and moral decision components of your Estate Plan. Someone needs to reflect on what is best for you and your goals, not what looks best on paper or based on what other people have decided in the past. Instead, someone has to apply critical thinking skills, emotional analysis and practical considerations when creating these documents.
AI is not able to provide that level of ethical and moral guidance when it comes to making critical decisions about your Estate Plan. It can only provide facts that are black and white, based on the past. That may not be what you need when it comes time to make core decisions.
The Value of Working with A South Florida Estate Planning Attorney
While DIY Estate Planning tools are readily available online, they are rarely the better decision maker. With the help of experienced Estate Planning Lawyers, you gain:
- Understanding of the nuances of Estate Planning laws that could be interpreted in various ways to benefit your family.
- An Attorney who can provide insight into a wide range of legal options that you may not have considered and AI cannot understand or recommend.
- A compassionate professional who can help you make the “right decision” to protect you and your family members and loved ones.
You have the right to create an Estate Plan that fits your needs and goals. Be careful not to let an AI bot introduce errors into your Estate Plan that may limit your ability to control what happens in your future.
Let an experienced, compassionate human guide you in protecting your legacy and your loved ones.
Call THE South Florida Estate Planning Attorneys – The Siegel Law Group
As trusted and experienced South Florida Estate Planning Attorneys, we know that finding an easy way to create and manage your Estate Plan is critical. We can facilitate that for you.
Call our Boca Raton office at (561) 955-8515(561) 955-8515 to schedule a complimentary consultation, or submit our online contact form to schedule a consultation today. If you have any questions, do not hesitate to contact us.