Two Wills: The Biggest Drawbacks Of Having Two Wills

Two Wills: The Biggest Drawbacks Of Having Two Wills

It is not unusual for people to have two Wills. Having two Wills might cause a person and their loved ones a number of issues.

The biggest drawbacks of having two Wills are as follows:

  1. Uncertainty as to which Will is the most current and enforceable: It may be challenging to determine which of a person's several Wills should be utilized to divide their assets if they are not clearly labelled and stored.
    Beneficiary disagreements and delays in the probate process may result from this.

  2. Contradictory clauses: If the Wills contain conflicting clauses, it may be challenging to decide which Will should be obeyed, and disagreements between beneficiaries may result.

  3. Confusion for the executor: Having two Wills can be confusing for the executor of the estate, who may be unclear of their duties and may not know which Will to follow. This can cause the probate process to drag out and make the executor's job more challenging.

  4. Increased probate costs: Since each Will must be filed separately and may need to be probated separately, the estate and the beneficiaries may incur additional legal costs as a result.

  5. Difficulty in updating or altering the Will: It's vital to cancel any prior Wills in case you want to update or change your will in order to avoid misunderstanding and dispute. This approach can be challenging and time-consuming.

  6. Legal issues: It may be difficult to determine which will is the most recent and legally binding, therefore having two Wills increases the possibility of legal issues.

  7. Beneficiary disputes: If the Wills are not properly marked and stored or if they have contradictory clauses, beneficiary disputes may occur.

  8. Delays in probate: If the executor is confused which Will to follow or if there are disagreements among beneficiaries, delays in probate may happen.

It's crucial to revoke any prior Wills in the event that you want to amend or modify your Will in order to avoid any confusion. A Will may be revoked by being physically destroyed, creating a new Will, or signing a document called a Revocation of Will.

People should frequently review their Wills and make sure they are properly documented and stored in order to avoid these issues. A lawyer should be consulted to make sure the Will is valid and that any inconsistencies with earlier Wills are rectified.

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