Article on Psychological Factors in Estate Planning

John Guerin & L. Paul Hood Jr.  recently published an Article entitled, Chapter 18: Psychological Factors in Estate Planning, Wills, Trusts, & Estate Law eJournal (2017). Provided below is an abstract of the Article:

As an area of behavioral finance, estate planning is less focused on systematic, cognitive errors than on a core, emotional ambivalence about mortality. The chapter explores the dynamics of the advisor–client relationship in financial planning and estate planning, as well as the emotional conflicts concerning mortality in light of research about mortality salience and terror management theory. The inclusion of marital, family, and family business issues introduces inherent complications to efforts at planning. These added dimensions may in turn affect succession planning, inheritance, heir preparation, and family dynamics. Recent developments in assessing financial style and personality may enhance progress in estate planning. Tools for facilitating the process are discussed, along with observations for further development in the field. Models in other areas of psychotherapy practice show potential to inform this area of practice.