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Why not wait until I am very ill?
We all put things off until tomorrow, but in the case of a Will, procrastination can be disastrous and have major consequences. Every state has laws that determine where property will go if a person dies without a Will (dies “intestate”). If you don’t want your property to be distributed the way your state law says, then the sooner you sign a Will or plan your estate the better.
We all like to think there will be plenty of time to deal with Wills and estate planning in the future, but for many people death just happens in an instant, perhaps in an auto accident or plane crash, or with a sudden heart attack. Even when people get critical illnesses, they are sometimes reluctant to prepare a Will, fearing doing so will be a jinx.
Wills have to be signed while you still have what is called “legal capacity.” This means that according to the laws of your state, you have the capacity to understand and make a Will. Illness, stroke, accident, or even an unusual drug reaction may make you incapable of making these decisions. Even if you’re taking strong medication that can make you confused, this might raise questions about how clear and competent you were when you made the Will if the Will is later challenged. For this reason, it’s always best to plan ahead and make Wills and plan your estate while you are strong and healthy and clearly able to understand the choices you are making. |
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