“Do things correctly the first time,” as the old adage goes.
Many people feel that drafting their own legal documents can save money, such as bankruptcy petitions, difficult tax returns and, or estate plans. They are unaware of the meticulous planning that goes into filing for bankruptcy. They do not realize that they will lose their tax refunds or other non-exempt property if they do not plan properly. Even worse, they paid relatives or transferred assets before declaring bankruptcy. Now the bankruptcy trustee is threatening to sue the relatives unless they return the monies.
When this comes apart, the same people who filed their own bankruptcy, hire a bankruptcy lawyer for hundreds or thousands of dollars, only to discover that once the problem has been created it cannot be undone without a great deal of effort, if at all. Therefore not saving money at all, it is the equivalent of performing your own open heart surgery and then going to the hospital to have the harm repaired. This is not a good idea.