Married couples who have been together for many years and who share nearly all of their assets often want to put a joint will in place. They know it’s important to have a will, but they don’t see the point of having two.
There are a number of issues with a joint will, which is why they’re rarely used any longer. The primary one is that because they have to be signed by both spouses, they can’t be modified or revoked after one spouse passes away or becomes incapacitated and unable to legally agree to changes.
A lot of things can change after a will is created, and one or more modifications may be necessary at some point. For example, an adult child who is set to inherit their parents’ assets after they both die might develop an addiction that could make getting such an inheritance dangerous for them.
Freedom to make changes after one spouse is gone
A better choice for couples who want to simplify their estate planning is having reciprocal or “mirror” wills. These typically both state that when one spouse passes away, the other gets all of their assets, and when both are gone, their children or other designated beneficiaries receive the remaining assets. They’re called “mirror” wills because they mirror each other.
Because each is a separate document signed by only one spouse, the spouse who outlives the other one can make whatever changes they want or need to make after their spouse is gone. Of course, each can make individual changes to their will whenever they choose, but then they won’t be truly reciprocal wills.
What if a couple decides not to have wills?
Another question some long-married couples ask is why bother with any wills? Arizona is a community property state, so under its “intestate succession” law, when a spouse dies and the couple have no children or only children from their marriage, the surviving spouse gets everything. When the second spouse dies, with no living spouse, their children (if they have any together) get everything.
Dying intestate (without a will) means that an estate is subject to the distribution laws enacted by the state, which can be a long, expensive process for surviving loved ones. But, with a will, Arizonans can make their wishes clear and enforceably known. Having individualized estate planning guidance can help couples choose the best estate planning tools for their unique needs and goals.
