If your father does not understand the extent of his assets and does not have the ability to handle his financial affairs he may not have the capacity to make decisions in his best interests. If his lack of capacity can be established then he cannot make a new Will. It would be easier to prove lack of capacity now, while he is alive, than it would be after his death. Unfortunately, proving lack of capacity now is a difficult step from a family relationship standpoint. A Joint Will is not the same as a Joint and Mutual Will (a reciprocal Will). The terms, circumstances and evidence indicating the intent of the parties is very important. The Will should be reviewed by an attorney to evaluate its status and meaning. In the case of a Joint Will (a single instrument), the joint nature of the Will is not, in and of itself, sufficient evidence of an enforceable contract to devise between the testators so as to make the contract enforceable in equity by specific performance or quasi-specific performance through a declaration of trust. There must be a contract to protect the intent of the parties as stated in the Joint and Mutual Will. One must refer to the terms of the instrument and/or to other evidence bearing on the question of a contract. When, however, the provisions of the Will are reciprocal, and it appears that they are made in consideration of each other, the instrument is regarded as a Joint and Mutual Will (enforceable as a contract). Such a Joint and Mutual Will may be irrevocable after the death of one of the parties when it is proved by clear and satisfactory evidence that the Will was executed in pursuance of a contract between the parties and that each Will is the consideration for the other.
Answered on May 02nd, 2014 at 6:24 PM