What Happens If You Use AI to Craft Your Estate Plan?

Nowadays, Artificial intelligence (AI) is integrated into almost everything we do. The concept of AI has existed since the 1950s when researchers first began studying how machines could think independently. AI is constantly evolving and used in endless areas, from virtual assistants and self-driving cars to even the autocorrect applied when sending emails or text messages. It has just been released that even the new iPhone 16 has ChatGPT integrated. Artificial intelligence is a powerful tool that can boost our creativity, help us become more efficient at work, and support us in expanding our knowledge—especially when it comes to the complex world of estate planning. However, one should use caution when it comes to drafting legal documents.

Using AI for Estate Planning

AI can be helpful for those who have ventured into the intricate world of estate planning. It can assist in many ways, from simplifying complex terms to explaining what legal documents do. For example, AI tools like ChatGPT and Gemini can explain legal terminology, helping clients understand the importance of various clauses in an estate plan. AI can also guide users through some of the initial steps, such as gathering information like personal information and financial assets, which can make the initial phases of estate planning less daunting and more manageable.

Risks in Using AI in Estate Planning

Despite its advantages, estate planning that entirely depends on AI poses various risks. AI is not perfect and may generate errors when handling complicated, personalized legal documents. Legal documents not only have to be accurate but also legally sound, and a lawyer’s oversight is extremely important to ensure your legacy is protected for the exact life situation that you have.

While many might be tempted to draft DIY wills to save some extra money, it could end up being more costly in the long run. These AI-generated documents often fall short when situations become even slightly more complicated or circumstances change. Even advanced AI tools recognize their limitations and explicitly state:

“I am an AI language model and cannot provide legal advice. Estate planning is a complex matter that should be handled by a qualified attorney. Laws vary by jurisdiction, and your specific needs may require personalized guidance.”

Estate planning requires a high degree of customization, and AI tools often struggle with this level of personalization, leading to documents that have no chance of meeting legal standards. Additionally, AI lacks the detailed understanding and judgment that an experienced estate planning attorney can provide. Family dynamics, complex tax strategies, state laws applicable to some but not all; these factors can only be known and executed by an estate planning attorney who works with you to meet all your expectations in your plan.

Contact Caress Law

While AI can be a helpful tool in the estate planning process, it should not be relied upon exclusively. It is essential to work with a knowledgeable attorney to ensure that your estate plan is meticulously crafted and legally strong. Interested in getting started? Give our team a call at (503) 292-8990 or fill out the form below.