Many people think that estate planning is just for wealthy people, but that's a myth. An estate plan is for anyone of any means who has assets to distribute. They could include a house, investment accounts or family heirlooms.

An estate plan lets you decide who gets what and who's in charge of making decisions – both during your life and after your death. It saves confusion and conflict among your heirs.

Without one, state laws decide everything, and you may not like the outcome.

Another myth is that a will is enough. However, a will doesn't protect you if you become incapacitated.

Myth No. 3 is that equal distribution is always fair, but truthfully, every child's situation differs.

And the final myth is that you can set it and forget it. Instead, you should review your plan every few years or as major life events occur.

Estate planning can help ensure your voice is heard and your loved ones are cared for, no matter what happens.

This content was provided by Edward Jones for use by Lee Van Pelt, your Edward Jones financial advisor at (541) 756-0854 edwardjones.com/lee-vanpelt. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

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