Joint wills are legal documents created by two individuals, typically spouses, outlining how their assets will be distributed upon their deaths. They often contain clauses that reflect the wishes of both parties and are designed to simplify the estate planning process. Below are three diverse examples of example clauses in a joint will, each serving a different purpose.
This clause specifies how the couple’s assets will be distributed among their children after both spouses have passed away.
In the event that both of us pass away, we direct that our assets, including real estate, bank accounts, and personal property, shall be divided equally among our three children: John, Emily, and Sarah. If any child predeceases us, their share shall be distributed equally among their descendants.
This clause designates an executor who will manage the estate and ensure the wishes outlined in the will are carried out.
We hereby appoint our trusted friend, Michael Thompson, as the executor of our joint will. Should he be unable or unwilling to serve, we appoint our daughter, Emily, as the alternate executor. The executor shall have the authority to pay our debts, manage our estate, and distribute our assets according to this will.
This clause outlines the guardianship arrangements for any minor children in the event both parents pass away.
In the event that both of us pass away while our children are minors, we appoint our sister, Laura, and her spouse, David, as guardians of our children, John and Sarah. We trust that they will provide a loving and stable environment for our children. If they are unable to serve, we nominate our close friends, Mark and Lisa, as alternate guardians.