World Mental Health Day and Estate Planning

Oct 10, 2023 lifefocusplanning-admin

By Matthew A. Ferri, Esq. World Mental Health Day is a crucial reminder that our mental well-being deserves attention and care. While we often focus on self-care and seeking support for ourselves and loved ones, we may not immediately connect it to estate planning. However, your mental health and estate planning are closely intertwined. In this article, we’ll explore the connections between estate planning and mental health, and how taking steps to secure your legacy can provide peace of mind.

Mental Health | World Mental Health Day | Estate Planning | LifeFocus Planning

Reduce Stress and Anxiety and Improve Your Mental Health:

Mental health issues often stem from stress and anxiety, and the thought of not having a solid estate plan can contribute to these feelings. When you have a comprehensive estate plan in place, you alleviate some of the uncertainty surrounding your financial and familial future. Knowing that your assets are protected and your loved ones are provided for can reduce the mental burden.

Facilitate Family Discussions:

Estate planning involves important discussions with your loved ones about your wishes and preferences. These conversations can be challenging, but they can also bring families closer together. By opening up lines of communication, you can work through any conflicts or misunderstandings, reducing stress and fostering healthier relationships.

Protect Vulnerable Family Members With Mental Health Issues:

If you have dependents with mental health issues or disabilities, proper estate planning is essential. Establishing trusts or guardianships can ensure that they continue to receive the care and support they need when you are no longer able to provide it. Knowing your loved ones are taken care of brings tremendous peace of mind.

Appoint Trusted Representatives:

Estate planning allows you to choose trusted individuals to make financial and healthcare decisions on your behalf if you become incapacitated. This prevents unnecessary family disputes, while ensuring that your wishes are honored. Selecting someone you trust implicitly can reduce the mental strain of uncertainty in difficult times.

Ensure Your Legacy Lives On:

Many individuals find comfort in the idea that their values, beliefs, and memories will live on through their estate plans. Whether you want to create a charitable foundation, leave a legacy gift, or preserve family traditions, estate planning allows you to make sure your legacy is passed down as you wish. This can also provide a sense of purpose and contentment.

Seek Professional Help:

Estate planning can be complex, and making mistakes or overlooking important details can cause stress and regret later on. Seek the assistance of a qualified estate planning attorney or financial advisor who can guide you through the process. Their expertise can help you make informed decisions, further reducing the mental burden of estate planning.

On World Mental Health Day, remember that estate planning is not just about financial assets and legal documents; it’s also about preserving your mental well-being and the well-being of your loved ones. By taking steps to secure your legacy, you can reduce stress, foster family harmony, and ensure that your values endure for generations to come. Don’t delay in addressing your estate planning needs, contact us at 248-409-0256 to schedule an initial consultation —your mental health and peace of mind are worth the effort.

Matthew A. Ferri

About the Author

Matthew A. FerriJ.D., M.B.A., is the Founder and Principal of LifeFocus Planning, a Michigan based estate planning law firm. He is an estate planning attorney with offices in Bloomfield Hills, Michigan and Shelby Township, Michigan. His expertise includes advanced estate planning, elder law, Medicaid planning, Veterans benefits, special needs planning, and business planning. During law school, Matt focused his studies on business law while simultaneously earning his MBA. Matt started his own firm with the goal of helping individuals and their families develop estate plans that work. He received the rating of AV Preeminent® by Martindale-Hubbell: The highest peer rating standard. This rating signifies that a large number of his peers rank him at the highest level for his legal knowledge.

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