Investor Glossary-joint willInvestor Glossary-joint willInvestor Glossary-joint willInvestor Glossary-joint willInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Joint Will

The HTML to link to this page
 

A joint will is a type of legal agreement, in which property is distributed according to a will without the right to survivorship. According to a joint will agreement, the distribution of assets is predetermined by a joint will regardless of who dies first. A joint will is common among married couples, though legally a joint will can apply to any two people who intend to become each other's beneficiaries according to a stipulated will. Like other legal contracts, a joint will has its benefits and drawbacks. On the plus side, a joint will prevents the surviving person from using the estate in ways that contradict the terms of the joint will contract. Thus for example, should the surviving spouse decide to remarry, a joint will contract may block him or her from granting the estate to the new spouse or stepchildren. A negative of a joint will is its constricting nature and inability to accommodate changing life circumstances.



Rate this joint will definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: Key Rate Duration, EBITDA, phantom income, debt service coverage, inflation, liquidity ratio, wholly-owned subsidiary, limit order, Zero Cost Collar, FTSE, LIBOR, required rate of return, covered put, 401a, class C shares, diluted share, annual return, APR, stock market close, VIX, current ratio, labor relations, 144a, ex-dividend date, 1035 exchange, cancelled check, per diem, implied volatility, real GDP, minority interest, margin rate, command economy, ex-dividend, quality assurance, irrevocable trust, risk management, in escrow, reverse mortgage, retained earnings, deferred tax, dividends payable, average price per share, option premium, balance sheet, open position, 1031 exchange, stock split, FICO score, deferred revenue


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2015 Investor Glossary - All rights reserved - Terms of Use