Experts are raising the alarm – AI will replace lawyers when it comes to estate planning. With the rise of artificial intelligence (AI), some people may be tempted to use AI tools to draft their estate plans. However, there are several reasons why AI should not be used for this purpose.
Estate planning is essentially about control. How will your assets and possessions be distributed after your death? Who will manage your care and assets, in the event you become incapacitated and unable to make financial or medical decisions? Who will answer your family’s questions after your death? Estate planning is complex and time-consuming for a reason – you are trying to anticipate the probable events that may affect you and your loved ones.
First, estate planning is a highly personal and often emotional process that requires careful consideration of your unique circumstances and goals. While AI tools may be able to generate documents quickly and efficiently, they are, by definition, impersonal and generic. While AI can extrapolate on what has happened in the past, it cannot draft documents in anticipation of the future. To get personalized attention and expertise requires an estate planning attorney.
Second, estate planning involves legal and financial considerations that require specialized knowledge and expertise. While AI tools may be able to provide basic information and guidance, they cannot replace the experience and expertise of a human attorney.
Third, estate planning involves sensitive and confidential information that should be kept private and secure. While AI tools may claim to be secure, there is always a risk of data breaches and cyber-attacks that could compromise your personal information or alter your documents.
Fourth, estate planning involves complex tax, legal and financial concepts that require careful analysis and interpretation. While AI tools may be able to analyze data and provide recommendations, they cannot provide the same level of critical thinking and analysis that an estate planning attorney can.
Finally, estate planning involves ethical and moral considerations that require careful consideration and reflection. While AI tools may be able to provide objective data and analysis, AI cannot provide the same level of moral and ethical guidance that a human attorney can. Furthermore, by working with an estate planning attorney, you have the peace of mind that your wishes will be carried out and your loved ones will be taken care of as you intended.