People often put off their estate planning for “another day,” but that becomes months and then years. They constantly tell themselves that they’ll get to it eventually, but they never do.
Why do we do this? To understand it, you need to look at why people procrastinate in general. According to leading psychologists, procrastination is about avoiding pain. The definition of pain is very broad, however, and it can include things like shame, fear or vulnerability. Even when people know they have to face it eventually, they can’t bring themselves to do it at the moment.
As noted, it doesn’t mean physical pain. Estate planning makes us feel vulnerable because we have to talk with someone about all of our personal assets and the end of our life. It makes us feel afraid because people do not like to talk about death — or even think about it.
Estate planning makes many people feel uncomfortable. They don’t think they’ll need it for some time, so they keep putting it off to avoid that feeling.
The key is to change the way you think about estate planning. Rather than focusing on things like fear and vulnerability, consider how much it can help your family. Think about how much you love your children and how it can make life better for them. By doing this, you alleviate much of the pain and can focus on how your estate planning can improve their lives.
When it’s time to do your estate planning, an experienced attorney can help you develop a plan that meets your needs and those of your loved ones.