Most people (approximately 60 to 65% of Central Ohio people) do not have a Will. Why? Because most of us are busy living and working and the last thing we think about is our mortality.
Usually the Do-It-Yourself Wills are done by people who can afford to have a Will professionally done. The typical errors include improper witnessing, signatures, conflicting language, a failure to properly dispose of the assets, and of course estate tax avoidance language. Other errors could cause the loss of significant estate tax savings, and/or improper probate avoidance techniques, and not to mention an unequal distribution of their estate.
The loss in business to probate/estate planning lawyers is short term! In the long run there will be more business due to the litigation that will result! Lawyers will see a boom in estate litigation and in business!
Most people can wreak havoc by drafting their own estate planning documents. In the end (pun intended) the ones they loved and cared about will suffer the most from the chaos and legal problems they will leave with their family!
The cost to have a Will or Trust done professionally and correctly is a fraction of what the family will spend in estate legal fees cleaning up the mess!
Finally, if you use a lawyer, keep in mind not every lawyer knows the ins and outs of estate planning!