Marriages are a long-lasting relationship that is entered with vows of staying together until death separates the two.
Thus you might find newly-weds associating the same concept in marriage and wills, with most of them making a combined will to put in place an idea of how their assets and property should be passed to their descendants.
Though this stands true for many couples, who abide by the same, many separate due to their inability to gel well with each other, thus having a joint may work blunders instead of wonders.
Therefore, it is always a good idea to have separate wills.
Want to know why individual wills are a smart choice to make.
Read on to learn the reasons:
Privacy legacy
When a spouse dies, they will undergo a public probation process.
Thus, anyone who wishes to see the deceased person’s will can see it if they wish.
But in the case of joint wills, the other person who is alive may feel privacy concerns in such a circumstance.
On the contrary, when you have discrete wills, you do not have to show everything.
One can decide a limitation on the disclosed information and are only expected to reveal the information in the name of the person who died.
You do not have to wait till separation:
Marriages are made in heaven, but many leave no stones unturned to ruin it on Earth.
Despite all the promises made during the marriage rituals, some couples opt for a divorce due to varied reasons.
And, if the duo has entered into a joint will, they are forced to wait till the divorce to make any changes, turning out to be a complex episode altogether.
But, on the contrary, when the two have separate wills, they are the masters of their own choice and do not have to wait for the divorce to update their will.
Varied interests and needs
Two individuals may have different needs and requirements.
For example, there might be restrictions in the case of a joint will, and the two may feel bound to have mutual consent while passing on their assets and property.
Especially if a couple has undergone a remarriage and has taken custody of kids from their previous association, they may wish to pass on their fortune to their biological kids in case they die.
In such an event, having separate will ensure that the two have their own decisions on handling their possessions and assets separately.
Death may occur anytime
It may sound romantic to say living together and dying together.
However, this rarely occurs and does not have many advantages of having joint wills.
When a spouse dies, the legalities and documentation might become more complicated.
There are chances that a will may become locked-in, and the alive partner may face difficulties in updating their partner’s property.
When a person dies, their will cannot be further changed or updated.
Thus legacies may become way too complicated and can lay unnecessary stress on the spouse who survives.
Conclusion
Are you someone who wishes to update their joint will?
Do you wish to create different wills for you and your spouse?
You can always call for the professionals who can assist you in chalking out separate wills for you and your partner to avoid rows that can arise due to a separation.
If you still have any question, feel free to ask me via comments.
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