MENTAL DECLINE IS IN THE NEWS AND AFFECTING PEOPLE WE KNOW

Mental decline can significantly impact your ability to create or modify an estate plan. Here are some ways it might affect you or someone you love:

Capacity to Understand and Make Decisions: Mental decline, such as dementia or cognitive impairment, can impair your ability to understand complex legal concepts and make informed decisions about your estate plan. This could affect your ability to understand the implications of your choices regarding beneficiaries, asset distribution, and appointment of fiduciaries like trustees or executors.

Vulnerability to Undue Influence: Individuals experiencing mental decline may become more vulnerable to undue influence from others. This could lead to changes in the estate plan that do not reflect your true wishes but rather the desires of someone taking advantage of your diminished capacity. We are always watchful for signs with our “at-risk” clients.

Execution Requirements: Estate planning documents, such as wills and trusts, have specific legal requirements for execution, including being of sound mind at the time of signing. Mental decline could call into question whether you meet these requirements, potentially leading to challenges to the validity of your estate plan.

Timing and Urgency: Mental decline can progress over time, making it important to address estate planning sooner rather than later. Waiting too long may result in decreased capacity, making it difficult or impossible to create or modify an estate plan according to the clients wishes.

Legal Protections and Safeguards: Depending on the severity of the mental decline, a person may need additional legal protections and safeguards to ensure that your estate plan accurately reflects your intentions and is less susceptible to challenges. This might involve obtaining a medical opinion regarding mental capacity at the time of executing estate planning documents as well as extra measures we take when handling cases involving individuals with signs of some level of diminished capacity.

Given these potential challenges, it's essential to address estate planning while you still have the capacity to do so effectively. We understand issues related to mental capacity can help ensure that your wishes are documented properly and your estate plan is less vulnerable to challenges.