Establishing a will is generally beneficial for adults of all ages and life situations. Some people draft wills after having children to protect their progeny from a tragic scenario. Others establish wills when they achieve professional success, start small businesses or buy a home. For many people, medical challenges or looming retirement motivate the creation of a will and other estate planning documents.
Regardless of what motivates an individual to begin estate planning, they must meet certain standards to establish valid documents. Other than being at least 18 years of age or an emancipated minor, the main requirement for a testator is that they have testamentary capacity.
Who has the necessary capacity to draft a will?
Most adults have testamentary capacity
The threshold for testamentary capacity is relatively easy to meet. The vast majority of new adults who have just turned 18 and older adults preparing for retirement or well into their retirement meet the necessary standard.
To have testamentary capacity, an individual must be aware of their circumstances. Typically, that means having the ability to recall what property they own and who they want to name as beneficiaries. Additionally, they need to be able to recognize the impact that the documents they draft could have on other people.
Almost all adults have the necessary testamentary capacity to draft a valid will. Only a few situations leave people without the necessary capacity to establish or update a will. For some people, severe mental health challenges are what reduce their testamentary capacity. Individuals with conditions like schizophrenia may be unable to establish wills because they struggle to understand their reality.
Those who have significant cognitive decline, possibly due to dementia, could also lack the necessary capacity to draft or update will. Occasionally, treatment with certain medications can leave someone temporarily incapable of creating an enforceable will. Those thinking about their legacy or the protection of their loved ones often benefit from acting sooner rather than later, as no one knows how their health may eventually change.
Estate planning is usually an option for those in all stages of adult life unless health conditions affect their testamentary capacity. People who plan before their health declines have a substantially better chance of drafting documents that will hold up while under scrutiny in court after they die.