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But the technology still has its limitations, so its probably not the ideal way tocreate an estate plan.
Here are a few reasons why you shouldnt use AI tocreate an estate plan.
AI tools can only respond to what you input, but they dont know what youdidntsay.
An estate planning lawyer can ask the right questions toensure your wishes will be met.
A lawyer would have flagged this and set up a special needs trust.
Now, without it, the daughter may lose access to critical government benefits when her dad dies.
AI-generated documents might look polished and professional, but its not about how official they look, Cowan said.
What matters is the legal language, and thats where things often go wrong.
Cowan noted that these mistakes usually dont show up until its too late.
Your life, assets and the law are all going to change, Cowan said.
AI wont check in with you about a new child, a second marriage or a major asset purchase.
A goodestate planning attorneybuilds a relationship with you and helps you tune up your plan as your life evolves.
Cowan gave the example of a client who created her will online when her first child was born.
When she passed away unexpectedly, her old plan still named her ex-husband as the executor and guardian.
Her current spouse and children were left out of the plan entirely.
We see DIY will after DIY will get thrown out by the court because they werent executed properly.
The court will throw the will out.
If it is not executed properly, its worthless.
AI wont catch that your beneficiary designations on things likelife insurance and retirement accountsoverride your will, Cowan said.
This is one of the first things an estate planning attorney would point out.
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