Everybody should have a will. This is true even if you think that your estate is not all that valuable or complicated. A Des Moines wills lawyer from our firm can help you draft one after exploring your options and the different types of documents you can use. One possibility is a joint will. Here’s what you should know before committing to this option.
Get Help TodayA joint will is a good idea for couples who completely agree on what they want to do with their assets. They work on the document together and set the terms, and then when one spouse dies the other inherits everything. When the surviving spouse passes away, then the assets are passed down to their beneficiaries. So a couple can leave something behind for children, grandchildren, and other loved ones.
When there are no complications, this can work out fine. However, a big issue with a joint will is that it cannot be changed unless both people agree. This means that if life doesn’t quite go the way you planned, you might run into problems and legal headaches after one spouse has passed away.
A good example of this would be a couple that leaves everything to their children. What if there is a falling out after one spouse dies and the surviving spouse wants to disinherit that child? They can’t do it. What if a surviving spouse wants to sell the house due to unexpected circumstances even though the plan was to leave the home to one of their children? They won’t be able to do that either.
Because of this issue, there are some alternatives to a joint will that have risen in popularity in recent years. A mirror will is a good example of this. You and your partner both set up separate wills and name each other as the primary beneficiary. When one spouse passes away, their assets go to the surviving spouse. If the surviving spouse wants to change their will, they are able to because the mirror will does not require their deceased partner to consent to the changes.
We recommend it. A will needs to meet certain criteria in order to be legally binding. Not meeting these requirements can make it easier to challenge your will after you are gone. This can cause plenty of unnecessary stress for your loved ones.
We cannot guarantee that someone won’t challenge a will that we write, but we can make sure that the document meets all legal requirements and that it’s more difficult to question.
If you want to learn more about a joint will or other estate planning tools, schedule your consultation with our legal team. Contact Herting Law, PLLC and see what we can do to help you protect your assets and leave something behind for your beneficiaries.
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