Four Estate Planning Myths That Could Cost Your Family
Apr 27, 2026 01:01PM ● By Edward Jones for Matthew Kenady
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.
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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 Matthew Kenady, your Edward Jones financial advisor at 309-274-3929.
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Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.