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How can loneliness lead to issues while estate planning?

On Behalf of | Dec 5, 2023 | Estate Planning |

Loneliness can have a big effect on a person’s mind. In the later years of life, individuals might become close to people who try to take advantage of their loneliness.

This exploitation can significantly shape decisions about estate planning, potentially putting at risk the fair distribution of assets and the creation of a lasting legacy.

Vulnerability and more isolation

Loneliness often comes with being socially isolated. Those who do not have many social interactions might find themselves wanting companionship, making them more open to the suggestions and manipulations of others.

This is especially true in sensitive matters like estate planning. Manipulative individuals may try to keep people away from their loved ones or anyone else who could possibly talk them out of a bad idea.

Unexpected financial pressure

Exploitation can show up in different ways, with a big focus on money. Lonely individuals might unknowingly become victims of long-term schemes.

Those taking advantage of them may manipulate decisions to slowly benefit themselves, possibly diverting resources away from the family members or organizations the lonely individual wanted to give them to.

Manipulated legacy plans

People who exploit others might take advantage of this desire for connection by influencing decisions about other personal assets or heirlooms after death. In some cases, the manipulative individual may ignore the wishes of the lonely person or attempt to pressure them into changing what they already wrote.

Approximately, 17% of American adults report feeling severe loneliness as of 2023. When loneliness and a manipulative person mix, even the most cool-headed of individuals may struggle. Staying watchful is important to navigating the shadows of influence and making sure estate plans match the true wishes of the person involved.