Reasons Texans Should Consider Making a Will Early

 Posted on July 10,2023 in Estate Planning and Probate

It is easy to think of estate planning as being for only the elderly. This line of thought makes some sense. Elderly individuals are more likely than younger people to pass away in the somewhat near future. Certainly, if you are a senior citizen and you do not yet have a will, it would be wise to make one as soon as you are able to. However, it is very important for younger to middle-aged adults to begin their estate planning early on in their adulthood. While many younger adults wish to avoid thinking about their own mortality, it is important not to delay making a will and getting any other needed documents in order. Life can be unpredictable, so it is best practice to be prepared. There are several reasons for this. When you are ready to begin making your will, you should begin by contacting an attorney. 

Reasons Younger Adults Should Begin Estate Planning 

While it might not be comfortable to think about, anyone can pass away at any time. Even if you are not yet a senior citizen, it is better to begin planning early for reasons including: 

• Capacity - The test for mental capacity to make a will is conducted according to a higher standard than the test for general legal capacity. To execute a will, you must first show that you have the general legal capacity needed to sign most documents for yourself. Then, you must also be able to show that you understand the document you are signing, that you have a general understanding of what assets you own and how you would want them distributed, who your beneficiaries will be, and the general effect of a will. This can be difficult for people who have already begun to suffer aging-related mental impairments, so it is better to do it before these effects set in. 

• Protecting children - If you have children who are still minors, it is incredibly important that you have a will in place that protects them just in case the worst should happen. Only by using a will can you name your preferred successor guardian for your children. 

• Avoiding challenges - When a person who is 80 years old signs a will - even if they were quite mentally sharp at the time - it is not too difficult for a disgruntled non-beneficiary to argue that you may have been impaired. It is much harder to challenge a will made by a person who is 50, 60, or even 70 years old. 

An attorney can help you begin the process of estate planning as soon as you are ready. 

Contact a Bexar County Wills Attorney

Geoff Mayfield, Attorney at Law’s experienced team of Bexar County wills lawyers can help you create the strongest and most effective will possible. To begin with a free consultation, please contact us at 210-535-0870. 

Source: 

https://eldercarematters.com/blog/capacity-requirements-for-estate-planning/