Many people regard estate planning as deeply personal and not the sort of thing they want to discuss with others. Yet it is probably better to have some discussions about yours, albeit without you needing to reveal every last detail.
Here are a few people you might consider talking to about your estate plan:
Your intended beneficiaries
There can be tax implications in passing on wealth, which may be avoidable in some cases. Talking to your intended beneficiaries can allow you to perhaps schedule some transfers earlier at a more beneficial moment or in ways that will benefit them more.
You probably also want to gain some idea of what items people do and do not want. Why leave your daughter a particular piece of furniture if she will put it straight on Craigslist when your son might treasure that same item?
Your named actors
You’ll want to appoint people to a few roles as part of your plan. An executor and a power of attorney are the minimum you should consider. If you’ve got minor-age kids, you’ll also need to choose a guardian for them.
Those who could worry or interfere
Let’s say you were to die before your parents. They may try to step in to make health care decisions or handle funeral arrangements. If you have named someone else to do these things, telling your parents can allow them to relax knowing it is taken care of, or if necessary, prevent them from trying to impose their own opinion on matters.
Someone to guide you
Finally, you should consider consulting someone with the legal experience and ability to help you understand the full scope of estate planning options available, pick appropriate ones for your needs and formulate them into a valid plan.