Joint Wills for Married Couples
Sometimes, married couples are expected to do everything together including making a joint will or estate plan. If you’re married, you may be curious if you need to have separate or joint wills. The good news is you have a choice in the matter and you do not have to share a will.
Protect everyone*s wishesAs similar as you two may be, you and your spouse probably do not agree on every single thing. Having your own will and other documents, such as a medical power of attorney, ensures the following of your unique wishes upon your death. It also prevents your spouse from being able to change your will without your permission.
Separate propertyNot all of your property is marital. Perhaps you acquired some before the marriage or inherited at some point. Your will can outline where you want your personal assets to go to avoid family disputes. This is especially helpful if you have ex-spouses or a blended family.
Another pro of single wills is they are easier to update, validate and enforce, making the probate process much faster and saving money.
Of course, you can include identical clauses in each of your wills, such as what will happen if you both die at the same time or who will get joint assets. However, there can be things you disagree on that conflict with one another. Therefore, through professional legal services you can prevent issues that prevent passing on your finances and property to your family.