Can you make a will after you lose capacity to make decisions for yourself? Spoiler – NO! Get your will sorted, there is no reason to put it off.
Hi. I’m Tara Lucke. And I have another one-minute estate planning tip for you. I often get asked can you make a will after you’ve lost capacity, so after a doctor says you can no longer make decisions for yourself?
The answer is no, you can’t. You need capacity to make a valid will. What are your options if you’ve lost capacity without a valid will? Firstly, you can rely on the estate plan that the government gives you. So, those are the intestacy rules that they have in every single state.
Secondly, your loved ones or your financial administrators can apply to the court to have a statutory will made on your behalf. Or finally, your attorneys can take steps to move assets out of your name so that you are no longer needing a will, so things like superannuation or moving it into joint tenants. All of these backup plans are pretty complex, they are not perfect solutions, so don’t leave it up to chance. Get a valid will in place while you can.