Many married couples assume that they should have a single will that covers both spouses. However, the vast majority of the time, each person should have their own individual will. Although spouses often have similar estate planning goals, a will is a personal legal document that expresses one person’s wishes regarding the distribution of their property and other important matters. Separate wills allow each spouse to decide how their individual assets should be handled after death.
In many cases, both spouses leave the majority of their estates to one another, with remaining assets eventually passing to their children or other beneficiaries. Even when the plans at issue are nearly identical, each spouse should execute a separate will.
Why make this effort?
Joint or mutual wills, which are specialized documents intended to bind both spouses to a single estate plan, are technically an option. However, while these arrangements can be functional in limited circumstances, they are often inflexible and may inspire complications, especially if one spouse predeceases the other. For that reason, many estate planning attorneys recommend separate wills combined with other planning tools that can more effectively accommodate future changes.
Life circumstances can change over time due to births, deaths, remarriages, changes in financial circumstances or evolving family relationships. If one spouse wishes to update their estate plan, they can generally revise their own will without affecting the validity of the other spouse’s document.
For example, if one or both spouses have children from previous relationships, careful planning can help ensure that each spouse’s wishes are honored while reducing the likelihood of future disputes among heirs.
At the end of the day, separate wills are generally far superior to joint will arrangements. Working with an experienced legal team can help married couples develop coordinated but individualized estate plans that reflect their shared goals while protecting each spouse’s unique interests accordingly.
