Estate Planning And Spouses: Is A Joint Will A Good Concept?

Estate Planning Sep 17, 2019 No Comments

The option for creating a joint Will exists in some jurisdictions, and this is why the topic is still discussed in many law school courses

Some states do not acknowledge the validity of joint Wills, and many credible estate planning attorneys will recommend against them. Just because you enjoy one another, and maybe even plan to be buried in the very same plot, does not imply that a joint Will is a good concept. Partners share numerous things, but a Will must not be among them.
A joint Will is typically long and complicated. Wills handle the personality of properties, property, cash, and other matters of interest, and intensifying the combined and different interests of both partners is bound to produce some headaches for the couple, their children, and possibly, the probate court. Even if your different Wills wind up looking and sounding comparable, it is an excellent idea to create a Will for each spouse, addressing their specific desires.

Why Estate Planning Lawyer Advise Against Joint Wills
In this day and age, a lot of couples have separate issues that they must address during the estate planning procedure. They might hold separate property. They might wish to offer an ex-spouse or children from previous relationships. They may even have different monetary holdings and different interests such as charitable organizations in which one spouse has more ties to than the other. Different Wills ensure that the requirements and wishes of each spouse are individually addressed and couple of problems develop when the Will goes to probate.

William Rogers