As individuals try to secure their legacy, the toll of loneliness can have serious consequences.
Loneliness often brings a sense of isolation, causing individuals to make decisions in a vacuum without the valuable input of friends or family. In the context of estate planning, this isolation can lead to hasty and uninformed choices.
Manipulation from external influences
Loneliness can open the door to manipulation by external parties. In the absence of a support system, individuals may fall under the influence of others who may not have their best interests at heart.
Friends, distant relatives or even acquaintances may try to exploit the vulnerability loneliness brings. This includes attempting to sway estate decisions for personal gain, like assets or inheritance. Recognizing this risk is important in safeguarding the integrity of the estate planning process.
Loneliness can breed procrastination. When facing the prospect of organizing one’s estate alone, the temptation to delay the process becomes more pronounced.
Around 20% of individuals may fall into the category of a chronic procrastinator. A lack of external motivation could lead to people not addressing important matters even up until their death, increasing the risk of potential legal complications for others.
The stress and anxiety associated with solitude can impact one’s overall health. In the context of estate planning, compromised health may hurt the ability to make sound decisions. A holistic approach to estate planning requires a healthy state of mind and body, making loneliness an obstacle that is not ignorable.
Actively seeking support from friends, family or even professional advisors can provide diverse perspectives and emotional reinforcement. By taking this step and more, individuals can ensure that they craft their legacy with intention.