|February is known as the month for love. Red roses, chocolate hearts and romantic songs are everywhere. Whether you are single or part of a couple, you just can’t escape all the love in the air. With all the love talk going around, have you ever heard the term “Sweetheart Will?”
A Sweetheart Will is an estate planning tool for married couples. A Sweetheart Will gives everything to the surviving spouse. You and your spouse agree to leave all your assets to each other at your respective deaths. The two wills are identical in nature. The widow or widower will have total control and ownership over all the real and personal property.
While these wills can be a good plan for you, depending on your financial situation, health and age, you may want to consider other types of estate planning tools to meet your needs and provide protection for your surviving spouse in the event of your death. If you would like additional information or need help in deciding on the right estate plan for you, please contact us.