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10 Most Common Questions About Drafting a Will

March 4, 2020 · Personal finance

Should my spouse and I have a joint will or separate wills?

Separate wills make a lot more sense than joint ones for a number of reasons. First, some states don’t even recognize joint wills. Secondly, it’s very unlikely that you and your spouse will die at the same time. Your wills might look similar but just because they might doesn’t mean you should not have two separate documents for your wishes.

More so for married couples who have had previous relationships. Properties and children from these previous marriages should be addressed separately. Because Probate laws typically favor current spouses, you’ll want to be very clear on your will.

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