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Commonly Asked Questions about Married Couple Estate Planning

Simple Living Trusts for Married Couples Simple living trusts are often considered the easiest kinds of trusts to set up and keep. In a simple living trust, a couple can share the control and benefits of the trust while they are living.
The other advantage of a mirror-image will is you can change it. Like we said before, this can be important if you remarry, go through a divorce, or decide to disinherit a family member for other reasons. That flexibility is one of the reasons financial experts like Dave Ramsey recommend mirror-image wills.
A joint will is for two people, so it is usually reserved for married couples.
The reality is, however, there should be separate wills for husband and wife, and it should be planned as soon as possible. No matter if its a first marriage, or youre getting re-married. Some couples think that they can have one joint will together, but this is not a sound approach. Spouses need separate wills.
There are better ways for you and your spouse to bequeath your property, such as by making mirror wills, separate wills with different provisions, trusts, or separate wills with a trust.
A mirror will is the easiest legal form you can use to transfer all of the plans you created in your own will into a similar will for your spouse, while also avoiding several legal headaches that can come up with older legal forms.
Typically, spouses name one another as executor of each others wills. But you should also name another person or corporate trustee as a successor in each will.
Legally speaking, an inheritance is always considered separate property. This is regardless of whether you receive your inheritance before, during or after a marriage, and its even true if you live in a community property state.