The mental capacity required of a testatorThe individual who creates a will. to create a valid willA legal document which expresses a person’s final wishes about what happens to their property after they pass away, often specifically identifying intended beneficiaries for specific items of property., or of a settlorThe individual who creates a trust. to create a valid trustAn arrangement in which property interests are legally held by one person (the trustee) at the request of another (the settlor) for the benefit of a third party (the beneficiary).. This competency is often described as the ability to recognize: 1) The natural objects of one’s bounty; 2) The nature and extent of one’s estateThe assets and liabilities left behind by a decedent.; and 3) The fact that one is making a plan to dispose of the estate after death.