Skip to content
English - United States
  • There are no suggestions because the search field is empty.

Must I include my spouse's information in my Covet account?

This is an important question because Covet facilitates the self-creation of estate planning documents. Some married people may question whether they need to include their spouse in their Covet account.

Including your wife in your will is generally a good idea to ensure that your assets are distributed according to your wishes and to avoid potential legal complications. However, whether you need to include her depends on your individual circumstances, local laws, and your personal wishes.

Here are some key points to consider:

  1. Legal Requirements: In many jurisdictions, spouses are entitled to a portion of the estate by law, even if they are not explicitly mentioned in the will. This is known as the "elective share" or "statutory share." Excluding your wife might lead to legal challenges.

  2. Your Wishes: Including your wife allows you to specify exactly what she should receive, which can help prevent misunderstandings or disputes among beneficiaries.

  3. Family Dynamics: If you have children or other dependents, you might want to specify how your assets should be divided to ensure fairness and clarity.

  4. Financial Planning: Including your wife in your will can be part of broader estate planning, potentially providing her with financial security and reducing tax liabilities.

  5. Trusts and Joint Ownership: Some assets might not need to be included in the will if they are jointly owned or placed in a trust that specifies how they are to be handled after your death.

It's wise to consult an estate planning attorney to understand the implications of your decisions and to ensure your will is valid and enforceable according to the laws in your area. Would you like more detailed information on any of these points?

-End of Article-

 

 

 

 

Covet does not provide any legal, investment, accounting, financial, and/or tax advice. The Covet site includes access to software and self-help materials, which are not substitutes for the advice of an attorney, financial advisor and/or accountant.