Joint Last Wills and Testaments

It is important to note, however, that a joint will cannot accomplish anything legally beyond what two separate wills can do.

On the flip side, however, is that circumstances can change drastically after the death of the first person but the surviving spouse would still be bound to the terms of the joint will. In that sense, one major disadvantage of a joint will is that it can tie up property for years until the second person dies even when a newer will reflecting the changed circumstances would have been appropriate.

For example, if the family home were bequeathed in a joint will to then be left to the children, the surviving spouse could not sell the home even if he or she needed money or to move into an assisted living facility.

Is a joint last will for us?

Whether a joint last will is a good estate planning option for you depends on your circumstances. One of the main instances in which joint wills can be useful is when a couple shares the majority, if not all, of their assets.

Before moving forward however, you must know that not all states recognize the validity of joint last wills and testaments. Accordingly, it is of the utmost importance that you inform yourself regarding your state’s laws on joint wills.

How to make a joint will

If you have decided to make a will jointly with another person, the next step is making the will itself. For this you can either use do-it-yourself forms, an online service, or an attorney—again, always making sure that your joint will complies with your state’s laws.