A lot of the focus in your estate planning will be centered on the distribution of your assets. While you might have an idea of how you want your distribution scheme to play out, things don’t always go according to plan. In fact, in some instances, disgruntled family members levy challenges to estate plans in hopes of securing a larger piece of the estate. If this happens in your circumstances, then there’s a chance that your estate plan could be deemed invalid.
Many of these challenges argue that the estate planner lacked the requisite mental capacity to create valid legal documentation. Therefore, if you want to protect your estate plan as much as possible, you should anticipate this argument and find ways to address it during the estate plan creation process.
How to head off arguments about testamentary capacity
There are several ways to address testamentary capacity during the estate planning process, thereby reducing the risk of a successful challenge. This includes:
- Visiting your doctor close in time to the creation of your estate plan so that they’re able to speak to your mental clarity.
- Having plenty of witnesses observe the execution of your estate plan so that they can speak to your mental state at the time you signed important legal documentation.
- Gifting assets to those who you think may challenge your estate plan so that you can use their acceptance of those gifts of an acknowledgement that you have the mental capacity to understand what you’re doing.
- Create a letter of intent that clearly articulates why you’re leaving your assets in the way you’ve laid out in your estate plan.
Protect your interests and those of your estate during the estate planning process
There’s a lot to think about throughout the estate planning process. And if you’re unfamiliar with the process, it’s easy to miss some key points. That’s why as you engage in the estate planning process it’s a good idea to learn as much as you can and seek out any guidance you may need to feel comfortable making the important legal decisions that are right for you.