After you’ve made your estate plan, you may be wondering if you should talk to anyone about your decisions. While some people talk about their estate plans, many people keep their personal matters private. That doesn’t necessarily mean it’s a bad thing to talk to people about your estate plans.
If you’re still unsure if others should know what your estate plans say, it may help to read the following:
Talking with your beneficiaries
Your estate plan likely has a list of beneficiaries who have a legal claim over your assets after you pass away. Perhaps you named a spouse, child, sibling or friend as a beneficiary. Some people talk to their beneficiaries so they know what to expect. But, others keep this information secret because the knowledge of what’s being distributed may create issues between family members and friends.
Talking with your executor of the estate
Your executor is responsible for distributing and handling your estate after you pass away. Three of the responsibilities of the executor are to locate your will, locate assets and locate beneficiaries. You may believe it’s important that your executor is informed about each of these matters to help them with the process.
Talking with your power of attorney
Your power of attorney can act on your behalf to make financial and medical decisions if you’re incapacitated by an illness or injury. To help ensure decisions are made that align with your beliefs, you may need to talk to your them.
Talking with your children’s guardian
If you’re a parent, you may consider naming a guardian in your estate plan. This is someone who could take legal custody of a child if their parents suddenly pass away. You may need to talk to the guardian about any concerns you may have about your child’s upbringing.
If you’re still unsure if you should talk to anyone about your estate plan, it can help to reach out for legal guidance.