Some individuals are reluctant to use the federal bankruptcy process to legally adjust an unmanageable personal financial condition. Many of these people view bankruptcy as a personal failure, something to be avoided at all costs. In truth, bankruptcy is not a declaration of failure; it is simply the recognition of an inability to pay creditors.

This may be caused by financial mismanagement; or it may result from illness, job loss, or another catastrophic event beyond your control.

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As the number of Internet websites and software packages have quickly multiplied, along with the many books and stationery store kits that have always been available, do-it-yourself (DIY) estate planning is on the rise. The one-size-fits-all fill-in-the-blank forms that these sources provide may be attractive to some individuals because they cost a fraction of what attorneys typically charge. But saving a few dollars exposes you to the serious risks!

Proponents of DIY estate planning typically have two arguments:

1. It's cheap and easy.
2. It's better than nothing.

These arguments may seem reasonable, but the chances that DIY estate planning will effectively accomplish exactly what you intend is slim. Here's why:

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