Section 20.17 Mental Incapacity

• Library: Estate Administration 2014 Supp

5. (§20.17) Mental Incapacity

It is well settled that a party transferring an asset without consideration must have the requisite mental capacity. To make a valid gift, the donor must have the capacity to know and understand the nature and consequences of the act, a reasonable understanding of the nature and extent of the donor’s property, and an understanding of the natural object of the donor’s bounty. Flynn v. Union Nat’l Bank of Springfield, 378 S.W.2d 1, 6 (Mo. App. S.D. 1964); Estate of Ferling, 670...