Estate planning is your opportunity to leave a lasting legacy, but doubts about your testamentary capacity can jeopardize your final wishes.
Taking steps to establish your mental clarity and intentions while you are alive can help preserve your wishes if someone attempts to contest your will. Here are some helpful guidelines to follow.
Understand testamentary capacity
This term refers to mental competency (often referred to as “being of sound mind”) needed to make informed decisions about your estate and incorporate them into a valid will. Challenges to testamentary capacity can arise when a loved one or other beneficiary disputes the will.
Document your mental capacity
One way to demonstrate testamentary capacity is to create a record of your cognitive state when planning your estate. This may include a medical or mental health evaluation by a qualified professional, providing formal documentation of your mental soundness at the time. This measure is particularly helpful for individuals who anticipate potential disputes among heirs.
Communicate your intentions
Transparent communication with your loved ones about your estate plan can reduce misunderstandings or suspicions after you pass away. While you are not obligated to disclose every detail, providing insight into your decisions can minimize disputes and reassure your family about your mental state.
Review and update your estate plan regularly
Circumstances and relationships evolve over time. By reviewing your will and other estate plan documents regularly and updating them with the guidance of an estate planning professional, you can better ensure that they reflect your current intentions. This practice can also demonstrate your ongoing capacity to make sound decisions about your estate.