Planning Ahead

questions & answers

Question: When making a will what advantages are there to drafting a single verses joint will?

Answer: If by a joint will, you mean a Will that cannot be changed without the approval of your spouse, the advantage is that after you die or become incapacitated, your spouse cannot change the beneficiaries of the Will (ie who gets the "stuff" after death). The disadvantage is that you cannot change your will either. Sometimes situations arise that could not be forseen during life, such as a child who is more financially in need than other children, children who become addicted to drugs or alcohol, grandchildren that we later want to leave assets etc.

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  • When making a will what advantages are there to drafting a single verses joint will?

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