A deathbed will is one created and executed when the testator is facing imminent death. Despite being hastily drawn, this type of will may be as valid and binding as a one prepared in advance, but relying on a deathbed will to distribute your assets can be risky. A will prepared close to death is apt to be challenged by a disappointed beneficiary. Such challenges usually contend that the testator lacked sufficient mental capacity or was subjected to undue influence. This type of challenge can lead to a costly and protracted will contest.
wills prepared hurriedly are often prone to errors for several reasons: The quickly drawn will may not distribute the property as the testator intended; hasty preparation may overlook, and miss strategies to minimize or eliminate the federal estate tax; and the will may be judged invalid because it does not meet a certain legal requirement, such as the signatures of two (or, in some states, three) witnesses who are not related to the testator and do not benefit under the will.
While a deathbed will is better than no will at all, to avoid errors or potential challenges, you should create and execute a will while you are still of sound mind and body. Your family will appreciate your advance planning.