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Joint Will

A joint will is simply a will that two people make leaving everything to the other. This type of will also includes stipulations on what happens should the other person die. Typically used by a husband and wife, this type of will is designed to prevent the surviving spouse from changing their mind and not doing what the deceased person wanted or have changes in their life that make them want a new will which would go against the deceased wishes. Joint wills are irrevocable unless both parties agree to the revocation - although there are some extreme situations which could possibly have the will revoked it is difficult. Joint wills should be thoroughly discussed with an attorney and alternates discussed before agreeing to one.

Fast Facts

  • One downside to a joint will is remarriage. If the surviving spouse remarries the joint will from the first marriage is still legal and valid, making it difficult to create division of property with the new spouse.
  • Joint wills can cause property in an estate to be tied up for many years until the death of the second party. Having a joint will is permanent and the surviving spouse is stuck with the decisions made years earlier.

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  • Effect of Bankruptcy on Joint Accounts and Co-Signers

      There are many factors that determine how bankruptcy affects a joint account. The “discharge” of debt in a b...
    • Site: bankruptcylawfirms.com
    • 1 of 1 user(s) found this useful
  • Joint Legal Custody

    The custody of a child after a divorce is a serious matter that a parent must deal with and it is important th...
    • Site: lawfirms.com
    • 5 of 8 user(s) found this useful
  • What is a Joint Will?

    A joint will is a single legal document that covers the assets of more than one person, which in most cases, i...
    • Site: willsandtrustslawfirms.com
  • When is Joint Custody Awarded?

    Many couples who are seeking a divorce wonder when is joint custody is awarded....
    • Site: divorcenet.com
  • Joint Child Custody in Oklahoma

    Does joint custody mean six months with Dad and six months with Mom? No. There is a difference between joint ...
    • Site: divorcenet.com
    • 1 of 1 user(s) found this useful

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