Joint Will

A Joint Will is a single legal document that is executed by two or more individuals, typically a married couple, that outlines their mutual wishes regarding the distribution of their assets upon their death.

In essence, a Joint Will serves as a testamentary document that reflects the intentions of both parties, often stipulating that the surviving partner will inherit the deceased partner’s assets. It is important to note that a Joint Will is irrevocable once it has been executed; meaning that neither party can unilaterally change the terms of the will after the death of one of the parties. This characteristic can create complications, as the surviving partner may find themselves limited in their ability to alter estate plans in response to changing circumstances.

For example, if a married couple creates a Joint Will stating that upon the death of the first spouse, all assets will transfer to the surviving spouse, the surviving spouse cannot later change this arrangement to leave assets to children or other beneficiaries without violating the terms of the Joint Will.

In Texas, including Houston, individuals contemplating a Joint Will should consider whether they truly desire the irrevocability of such an arrangement, as well as the potential for conflicts that may arise if the surviving spouse wishes to modify their estate plans later. An alternative to a Joint Will could be individual wills that include mutual provisions or cross-references, allowing for more flexibility while still reflecting the couple’s intentions.