4 Irrational Reasons to do Your Estate Plan… | Rich Life Letter #111
Happy Sunday!
I’m reading this book called “Alchemy: the dark art and curious science of creating magic in brands, business, and life”, and one of the overriding concepts of the book is that we often do things for irrational reasons.
By irrational I mean they don’t necessarily make sense, even though they are good for us.
For example, most people don’t brush their teeth to keep their teeth clean – they want fresh breath.
That’s why most people don’t brush their teeth every time they eat but do whenever there’s an important thing happening (job interview, date, etc.).
The outcome is still helpful, even though the driver isn’t.
I thought about it, and figured there were reasons people did estate planning other than it’s just the prudent thing to do.
Here are 4 I came up with.
First, it gives you street cred with your friends and family.
Whether or not you want it to be this way, when you tell people your estate plan is done they look at you differently and treat you differently.
You’ve achieved a certain respect level when it’s done.
Second, it just feels good.
People always talk about protecting their family and legacy and all that stuff, and that’s great, but there’s something about doing something that’s a little hard and kind of uncomfortable that just “feels” good.
There’s a sense of accomplishment when you’re done that’s pretty powerful.
Third, it feels powerful.
There are not a lot of things we have complete control over in our lives.
With estate planning, though, you have total control.
Who is going to be in charge of things when you no longer aren’t?
You get to decide without recourse.
Who is getting what, when, and how?
You get to decide with no limitations.
If we’re honest with ourselves, that’s kind of a cool feeling, and one we rarely, if ever, get to experience.
Fourth, and finally, it reduces your fear surrounding your impending demise.
You often hear people say, “I don’t want to think about that stuff because I don’t want anything to happen.”
When you do your estate plan, though, you realize something…
Although you don’t have control of when you’re going to leave this planet for good, you do have control over the process of things.
And, while that’s not everything, it is “something,” and it is meaningful.
Don’t believe me?
Ask any of your friends that have their estate plan done. I would imagine they’d confirm each of these items.
Okay, that’s it for today.
I’ve done my job.
4 more reasons for you to get your estate plan done. :)
Have a great week!
Cheers,
Christopher Small
Owner
CMS Law Firm LLC
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