Since its launch in 2022, the Artificial Intelligence (“AI”) chatbot ChatGPT has become the fastest-growing consumer internet app with over 100 million estimated monthly users globally. It is clear that ChatGPT and other programs utilising generative AI are here to stay. Given their increased accessibility and sophistication, we will no doubt see AI tools transform many aspects of professional services, including estate planning.
Whilst the utilisation of AI presents opportunities in terms of efficiency, it is crucial to recognise that proper estate planning requires judgement and nuance that AI simply cannot offer. Therefore, it is important not to overstate the capabilities of AI in the drafting of Wills, Lasting Powers of Attorney (“LPAs”) and broader estate planning. For now at least, a human touch remains indispensable to organising your affairs properly.
Opportunities
Generative AI is a type of AI that uses algorithms to generate new outputs based on data it has been fed. Many law firms have already invested in AI programs, which are designed to assist their solicitors in tasks such as the drafting of legal documents, undertaking due diligence, and even predicting case outcomes.
There is no doubt that generative AI tools have the potential to quickly generate first drafts of Wills based on precedent documents. In addition, AI tools – designed to recognise patterns and discrepancies – could be an excellent aid in spotting mistakes in names, addresses and other client details across LPA forms or other legal documents. By cutting out the labour-intensive stages of initial drafting and document review, AI can help private client solicitors use their time more effectively, ultimately saving the client cost.
Risks
Just as AI may aid solicitors in spotting typos, it should be noted that generative AI platforms are incapable of validating the accuracy of their output. Ultimately, the capability of generative AI is limited to the quality of the data it is fed. Generative AI tools are designed to predict text based on input, but this can result in outputs which, whilst appearing plausible, are actually misleading or false. In this sense, AI programs cannot generally be relied upon to have accurate or up to date knowledge of relevant legislation, case law or tax regimes that are crucial to proper estate planning.
Additionally, confidential personal information should never be inputted into open-source AI models such as ChatGPT. Such programs cannot guarantee data privacy so there is a risk that this data could be exposed.
Finally, having a nuanced and sensitive approach to a client’s personal affairs is key. Given that no individual’s family dynamic or financial circumstances are the same, it is not possible for a generative AI program to produce sufficiently nuanced outputs. Therefore, dependence on AI programs in estate planning risks producing documents or advice that are too generalised and do not draw the client’s attention to important factors they may not have considered. For example, AI programs are incapable of understanding how choosing specific executors might impact on someone’s family dynamic, or how a couple’s estates might pass if they were to die in a common accident.
In summary, whilst AI tools can no doubt help solicitors use their time more effectively in the initial stages of drafting and document review, ultimately over-reliance on generative AI to draft a Will, LPA or undertake a wider estate planning exercise has significant risks in terms of accuracy and privacy. Crucially, the expertise of a private client solicitor lies in offering highly individualised advice to help clients achieve their intentions for their estates. As it stands, AI models are simply not capable of the emotionally sensitive analysis skills this area of law demands. Therefore, notwithstanding the opportunities offered by AI, a human touch remains irreplaceable in estate planning.
