Don’t Use AI For New York Estate Planning
Many people in Westchester County have fallen in love with artificial intelligence tools like ChatGPT, using them to increase productivity and potentially save time in their day. There are even more specialized AI tools, designed to answer questions and perform tasks in specific areas of expertise. There are even AI bots that advertise as being able to craft a person’s estate plan – but estate planning is a complex task with multiple small details that may or may not apply in every situation. Using AI for estate planning can lead to serious financial issues down the road.
Only As Good As Its Input
It is understandable that the average person might look to AI to draw up something as potentially difficult or confusing as an estate plan, particularly if someone has significant assets to manage. However, the main issue with this choice is simply that AI is not sapient – that is, it cannot think for itself. This means that it can only work with the information it is given – and too often, that information is either misleading, incorrect, or flat-out fabricated.
In addition, many AI platforms are not secure, which can lead to breaches of privacy that can complicate matters. Some of these tools promise protection, but it still may be possible to experience a data breach – and compared to attorneys, who are held accountable for any kind of privacy breach of their clients’ information, AI companies usually face little consequence when these occur.
AI Lacks Context Clues
The other major issue with using AI for something as important as estate planning is that it cannot analyze or interpret. For example, an AI tool may be able to produce a basic will, but based only on what it has been fed. It cannot reach out and tailor the document to local laws, or understand non-legal factors that may change asset distribution. For example, one of the most common mistakes AI makes when creating this type of document is to unintentionally include a beneficiary that the testator may have wanted to disinherit.
If you are in need of an estate plan, it is always better to enlist the help of a human attorney. Using AI to create your estate plan and not have it verified by a human can lead to the document being ruled unenforceable or even unlawful – and thus, useless for your beneficiaries. Human legal professionals will verify that all the details in your estate plan are as you want them to be, and work to prevent any issues in probate.
Contact A Pleasantville Estate Planning Attorney
It is understandable to be a bit intimidated by the task of creating an estate plan, particularly if you have significant amounts of assets and funds to distribute to your loved ones. A Pleasantville estate planning attorney from Meyer & Spencer, PC can do all the things AI cannot do – contact our office today to schedule an initial consultation.
