Community Chat

[froggy]

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@Kachina624 wrote:

Neither my husband and I nor my parents had seperate wills.  What would be the point?  You can specify any individual wishes in a combined will plus how would you make provisions for young children in separate wills?  Wills are expensive; why double the cost? 

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We have separate wills that leave everything to the other depending on who dies first. This is a second marriage for each of us and we want to make sure that the survivor has full claim on all property when the other dies. Our wills are part of our Living Trust and the whole thing specifies who gets what when the second of us dies.

[Scooter Ann]

Even if you can do a joint will, it is best to for spouses to execute separate wills for many reasons. The cost may be a little more up front, but a proper estate plan can avoid problems and save money down the road.  In some states, a living trust is advisable, meaning that your assets pass to the beneficiaries without having to go through probate court. Revocable (meaning can be changed until second spouse dies) living trusts are more commonly joint with spouse.  Please consult an experienced lawyer in your state (the lawyer would ask for information about Mary Smith to identify her when the time comes).  Hope that helps. 

[patbz]

We've had a trust in CA and now have a trust in AZ.  In both cases ( plus my late parents' trust in MD) as part of the package we had separate wills.  A trust didn't cost us more than $500 at any time and certainly simplies matters when the time comes ( I was executrix for both of my parents' estates.

[beckyb1012]

As a paralegal here in Texas we have always done separate wills for spouses.  Regardless to how small or how large their Estates are and regardless of how many times they were previously married.

[sann]

My parents did not have separate wills.

[Big Joanie]

Don't forget about Power of Attorney for each other ....That

you should have now ....

[Jaspersmom]

I copied this from the internet:

The answer to the question, “Do a husband and wife need separate Wills?” is yes, they do. Just because joint Wills exist does not mean they are an appropriate choice. Most couples fare better with separate Wills.

As far as identifying people named in wills, you will be asked to give information about those people - relationship, address, etc. 

[Still Raining]

You and DD each need a will that conforms to your state's laws.

Different states can treat individual assets differently, inherited or prior.

Also individual gifts should conform and/or be distributed at different times.

[RetRN]

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@Kachina624 wrote:

Neither my husband and I nor my parents had seperate wills.  What would be the point?  You can specify any individual wishes in a combined will plus how would you make provisions for young children in separate wills?  Wills are expensive; why double the cost? 

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Bad idea, they should definitely have separate wills. Best to maybe pay a little more and do it right.

[Lipstickdiva]

I have been doing probate and estate planning for 20+ years.  I have seen 1 joint Will and that was within the last year.  They just aren't done here.