Why You Should Not Let Artificial Intelligence (AI) Do Your Estate Planning By Larry Parman You have heard, or will be hearing, about AI. Let’s pray we have open architecture and that it does not end up controlled by the government or a handful of large corporations. Aside from that, I have been exploring its use and how it might apply to our firm. For fun, I entered the following query. “Write a 500-word memo on the perils of having ChatGPT create a Do It Yourself living trust.” It produced this result in less than 15 seconds. I would like to discuss an increasingly prevalent issue, the use of artificial intelligence applications, specifically ChatGPT, for creating do-it-yourself (DIY) living trusts. While it may seem an innovative and cost-effective approach, it poses several potential perils that need to be addressed. Firstly, it is important to note that ChatGPT, or any AI software as of my knowledge cutoff in September 2021, lacks the legal expertise required to correctly and accurately interpret legal nuances in the context of specific individual circumstances. Unlike a human legal professional, an AI system does not possess the ability to understand and navigate complex legal scenarios or offer strategic advice, based on years of study, professional training, and practical experience. Furthermore, AI applications are not able to accurately assess unique personal circumstances and apply these to the legal context. The nuanced situations, family dynamics, tax considerations, and long-term implications of various decisions are best understood in face-to-face consultations with a legal expert. Relying on ChatGPT could result in the creation of a trust that does not appropriately address these complexities, potentially leading to conflicts and legal complications in the future. Secondly, legal systems and their interpretations are continually evolving. Laws
regarding trusts differ significantly across jurisdictions and are frequently subject to change. ChatGPT, having a knowledge cutoff, cannot keep up with these changes, thus, potentially offering outdated advice. Finally, the confidentiality and privacy concerns surrounding the use of AI cannot be ignored. Sensitive information shared with AI may be vulnerable to data breaches. As the data processed by ChatGPT is encrypted and anonymized, it may not provide the level of confidentiality that a direct consultation with a lawyer would. In summary, while the use of AI and tools like ChatGPT is an exciting development with many beneficial applications, it is important to exercise caution when using these tools for creating DIY living trusts. The complexity of legal matters and the unique individual circumstances that should guide such decisions make human legal consultation irreplaceable. AI is unlike other tech tools. Yet, for most of us, it will be a tool, not a panacea. It offered us pretty good advice to my query. ### Some Humorous Thoughts from Seniors Apparently RSVP’ing to a wedding invitation “Maybe next time,” isn’t the correct response. Don’t irritate old people. The older we get, the less “Life in prison” is a deterrent. Have you ever listened to someone for a minute and thought, “Their cornbread isn't done in the middle.” Aliens probably fly by earth and lock their doors. “You will hit every cone on the highway before I let you merge in front of me because you saw that sign 2 miles ago like I did." I asked my wife if I were the only one she had ever been with. She said yes, all the others were nines and tens. It turns out that being an adult now is mostly just Googling how to do stuff. I miss the 90’s when bread was still good for you and no one knew what kale was.
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