What are joint wills?

Couples sometimes ask about joint wills and whether they’re the best option to ensure that their partner will have financial security if one of them passes away first. Joint wills used to be a common estate-planning strategy. But now most estate planning lawyers agree that they often create more problems than they solve.

What is a joint will?

A joint will is a legal document executed by two (or more) people, which merges their individual wills into a single, combined last will and testament. Like most wills, a joint will lets the will-makers name who will get their property and assets after they die.

Joint wills are usually created by married couples. They often state that:

1. After one spouse has died, all the couple’s property will be left to the surviving spouse; and
2. After the surviving spouse dies, the remaining property will be left to the couple’s children.

Like a contract — though unlike a regular will — you or your partner can't change or revoke a joint will without permission from the other. That’s why joint wills may appear attractive. They prevent the surviving partner from changing their minds about what to do with their property after the first partner dies. And this stays true even if the surviving partner remarries, has more children, or needs to sell property to pay bills.

When is a joint will a good idea?

A joint will can be a good idea if both you and your partner are in total agreement about how you want to distribute your property, your estates aren't complicated, and you only have a few beneficiaries.

When is a joint will a bad idea?

Joint wills can become burdensome if circumstances change following you or your partner's death.

For example, a married couple makes a joint will. They leave all their property, including the home they bought together, to:

• First, whichever of them survives the other; and
• Second, their daughter.

Now, let's say that one of them passes away and the surviving spouse later needs to sell their home to cover unexpected medical expenses. The joint will makes that difficult because they already said that their home would go to their daughter. And now, with one of them gone, the surviving spouse can't change the will.

Or imagine that the surviving spouse has a serious falling-out with their daughter. If they want to disinherit her, the joint will means it’s not an option.

Should you make a joint will?

In general, you should make a will. But because of the potential problems with joint wills, most estate planning experts don't recommend making that type of will.

Most people use other solutions, such as mirror wills and trusts, instead of joint wills. However, if you're certain you want to make a joint will, you should speak to a trust and estates attorney. They will be able to walk you through the process and help you create the documents you need.

What is the difference between a joint will and a mirror will?

Joint wills combine you and your partner's wishes into one legal document. Mirror wills, on the other hand, are a pair of nearly identical wills. In a mirror will, you would name your partner as your primary beneficiary. And your partner would do the same for you, while all other terms would stay the same. Unlike joint wills, you can change a mirror will without your partner's permission.

How to create a mirror will

A mirror will is a great option if you and your partner don't want the inflexibility of a joint will, but still have the same wishes for your estates.

We now offer the ability to make mirror wills if you are 1) married/in a domestic partnership and 2) do not leave any specific gifts of property in your will. Go to FreeWill.com and click Get Started to make your will. At the end of the process, you will be able to make a mirror will.

If you're ready to make your will but aren't sure where to begin, learn about everything you need to know about making a will.

Not sure if a joint will is the right fit? Learn about several other will types and how to choose the one that's right for you.