Litigation involving your estate can be costly, stressful and emotionally draining for your loved ones. One of the most common disputes involves claims that the person creating a will or trust lacked the mental capacity to make informed decisions.
Establishing proof of your mental competency can assuage your loved ones’ concerns about your estate decisions when you pass away. Here are three effective ways to document your mental capacity.
Doctor’s evaluation
A physician specializing in cognitive health can conduct an evaluation to determine whether you are of sound mind. Having the assessment in a written report can serve as evidence if your estate plan is later challenged.
The report should be as recent as possible. It should explicitly state that you understand the nature of your estate planning decisions.
Letter of intent
A carefully written letter outlining the reasons behind your estate plan choices can prevent misunderstandings among heirs. This letter should address potential concerns, explain why certain individuals were included or excluded and reaffirm your understanding of your choices.
While not legally binding, it provides personal insight into your thought process and can be a valuable piece of evidence in preventing disputes.
Recorded video
A recorded statement discussing your estate decisions can help show your mental clarity and alleviate concerns for your family members. In the video, explain why you structured your will or trust in a particular way, detailing your intentions and beneficiaries. Speaking clearly, referencing personal relationships and acknowledging your assets can further demonstrate you are of sound mental acuity.
When combined with guidance from an estate planning representative, these tips can minimize the risk of estate litigation and preserve your final wishes.
