Just like most things in life, everyone can give advice when it comes to estate planning. The question is, who can give estate planning advice and whose advice should you take?
When it comes to creating an estate plan to protect your family, you only want to take advice from those who are in a position to offer it. Friends, family, and neighbors will all have different pieces of advice they likely received from professionals who worked on their plan, or from their own personal stories.
While friends, family, and neighbors may all have the best intentions when giving you advice as to what to do, it may not be the best thing to listen to them. Your situation is likely different from theirs and you will therefore need different recommendations. Even a friend or family member who you think has the same situation may have a slight difference that you do not know about. Sometimes, even two people in the same situation may receive different estate planning advice because their goals are different.
Remember, your estate plan should include some or all of the following: power of attorney, last will and testament, living will, and trusts. Which documents are necessary for you depend on your situation and goals.
If you need to set up an estate plan for you and your family, you should contact an attorney in your area. If you have a financial advisor, they can give you some insight as to what you may want to do, but an attorney will be able to meet with you, discuss your situation, and provide suggestions as to how to best achieve your goals.