AARP Bulletin in their November 2020 issue (page 22) had an interesting article about more and more couples looking at estate planning now that the coronavirus is making the future outlook uncertain. Keep in mind that you can write a will at any time, even if you are sick in the hospital. Most estate planners recommend setting up a living trust, which gives you a lot of flexibility on how your assets are distributed following your death. Experts warn that doing a joint will for a couple is a terrible idea—they aren’t even legal in some states. Leaving more to one child than another almost guarantees that the will could be challenged. Stepchildren aren’t automatically treated as children for legal purposes. There are a lot of moving pieces in an estate plan so consult with your attorney.
