Creating an estate plan can present many challenges and areas of uncertainty. Some people develop depression due to estate planning concerns, while others have difficulty working their way through the process because of a battle with depression they have struggled with for many years. Either way, it is imperative to prevent depression from interfering with the successful creation of an effective estate plan.
Sometimes, depression also interferes with estate plan revision. For example, those who are very depressed often lack the energy to take a look at their estate plan and make necessary changes.
Estate planning can help with depression
On their website, the Office of Financial Readiness discusses some of the benefits of setting up an estate plan. For example, estate plans offer the opportunity to take concrete action to work toward financial goals and make one’s wishes become a reality. People often have a lot of uncertainty about what will happen to their assets after they pass away, and in some instances, this is the primary reason why one is depressed or struggling with other negative emotions. Easing these fears can help people overcome depression and find optimism with respect to their future.
Fighting depression and handling estate planning matters
If you are very pessimistic about your future or the way in which your loved ones will receive assets after you pass away, try to fight these negative emotions by dealing with your estate plan matters properly and in a timely manner. Whether you need to revise a will or you are interested in setting up a trust, do not let depression get in the way of protecting your estate.