Many people put off creating an estate plan because they don’t want to face up to the inevitability of their eventual death. Death is simply a fact of life that can be extremely difficult to accept, however accepting it is necessary for a fulfilling and positive life. The best way to approach the creation of an estate plan if you are hesitant because you consider it to be a morbid task is to reframe it in your mind.
Instead of being morbid, an estate plan can be life-affirming. It is a chance to look at what you have achieved in your life so far, and to consider what you want to achieve in the future as well as how you want to be remembered. The following are some reasons why creating an estate plan can be life-affirming.
You’ll know that your children will always be protected
If you are a parent, you’ll always want to make sure that your children and your grandchildren will be. By creating or updating your estate plan, you’ll be able to ensure that the people you love the most will be financially protected beyond your lifetime.
You’ll realize the charitable impact you can make
Many people make the choice to give a portion of their assets to charitable organizations. They can be beneficial from a tax perspective and has a great impact on the charity benefiting. It’s also a great way to feel positive about your lifetime contributions to creating a better world.
You’ll see what you have achieved during your life
Estate planning gives you the chance to look back on how far you have come. While you may have had times in your life where you were short on money, you have worked hard and overcome obstacles to get where you are today.
If youbut you have been hesitant to do so, make sure that you reframe the task and consider it a life-affirming event.