Lidia Law Firm, P.C.
Estate Planning & Business Law

The basics of a joint will

As Oklahoma couples move through their lives, they may realize they need a will. There are many reasons people should write a will and as they begin to explore the process, people may quickly feel overwhelmed when they see how many options they have. One option some couples may want to consider is a joint will.

According to FindLaw, a will allows people to leave instructions about their children's care if they die while the kids are still young. A will can also help ensure that surviving family members receive their part of the estate sooner. Additionally, people can decide in advance which of their family members will inherit particular assets. Couples may write a will together or they may choose to write one for each spouse.

Some people may think it is best for their family if they only have one will. FindLaw says that a joint will may be a good option in this situation. This is a kind of will people can write with their spouse and after one of them dies, the estate usually goes to the other spouse. Once the surviving spouse has all of the assets, the children typically become the beneficiaries of the estate.

While some people may enjoy the simplicity of a joint will, there are a few things they need to take into consideration. Some people may want to change the terms of the will as different situations arise in their lives. However, a couple usually needs to change the terms together. This means that the surviving spouse typically cannot change the will after his or her spouse dies, even as his or her circumstances change.

 

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