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If you’re married, filing a joint tax return with your spouse might be advantageous, but when it comes to estate planning, it’s best to make separate arrangements. Some couples consider creating a joint will, which typically states that when one spouse passes, the other inherits everything. Then, when the second spouse passes, their surviving children inherit what’s left. While this may simplify things in theory, estate planning attorneys typically advise against devising such an arrangement for the following reasons.

Modifying a Joint Will Is Challenging

estate planning attorneyMost spouses will not pass at the same time. It’s fairly common for one spouse to outlive the other by several years or even decades. If you create a joint will with your spouse and they die first, modifying its terms will be incredibly challenging in the years that follow. For example, you may be unable to give an adult child a portion of their inheritance early to assist with going to grad school, buying a home, or starting a small business. Since life is unpredictable, estate planning attorneys typically advise against establishing arrangements that cannot be changed. 

Settling a Joint Estate Is Complicated

Navigating a joint will through probate is fraught with issues. For example, the probate court might try to separate the terms of the document into two distinct wills. This could drag out the proceedings considerably and ultimately increase the costs associated with settling the estate. And even if a probate court does accept the will as-is, its terms are much less likely to hold up if challenged. In other words, a dispute could lead to a lengthy legal battle that only adds more stress to an already tense situation. 

 

If you and your spouse need help drafting separate wills, get in touch with the estate planning attorney at Rutherford Law Office. Located in Chillicothe, OH, this locally owned and operated firm is led by Attorney Sherri K. Rutherford and has been serving families throughout Ross County for 20 years. In addition to wills, trusts, and probate, she assists with Medicaid planning and various family law matters. To schedule a consultation with an estate planning attorney, call (740) 775-7434 or visit their website

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