An estate plan is a legal document that outlines your wishes for what will happen to your assets and your minor children after your death. While it’s not required, many married couples choose to create joint estate plans. There are several benefits to doing so like:

1. Simplicity – Having one plan for both spouses can be much simpler than having a separate plan.

2. Reduced Cost – Creating one joint estate plan is usually cheaper than creating two separate plans.

3. Increased Asset Protection – By pooling your assets together in a joint estate plan, you can better protect them from creditors or lawsuits.

4. Increased Efficiency – If both spouses have their estate plans, it’s possible that their wishes could conflict with each other or be challenging to administer. Having one joint plan can help avoid these issues.