If something were to happen to you, you’d want your wishes known. That’s why you write a will. But if your loved ones don’t know what’s in your will, what good is it?
Is it tucked it away in the bottom drawer of the filing cabinet in the basement under the desk? Or even in a safe deposit box that your spouse might or might not know exists? Not good enough.
That’s why Fabric launched the Trusted Contacts feature for wills, which enables you to share your will with your spouse beneficiary (just as we’ve done for life insurance) in addition to the executor of your will and the person you’ve appointed as your child’s legal guardian. That means that whenever you update something in your will, this important person will stay in the loop.
Your loved ones still need access to the legally binding paper copy of your will, but this feature can help you communicate with the important people in your life and make sure they understand your wishes.
On a similar note, we’ve released Fabric Wills for Couples, which allows a married couple to create a “mirror” will that reflects the couple’s common wishes, such as the selection of a guardian for their children. Creating mirrored wishes can help avoid any inconsistencies between your and your spouse’s instructions, which could save headaches down the road for your executor.
You can create a “mirror will” for your spouse online, enabling him or her to print it out and follow our checklist to make it legally binding.
Because the nature of a mirror will is that your will is very closely aligned with your spouse’s, the “mirror” version isn’t editable. So, if you want to create a mirror will for your spouse, we highly recommend that you discuss your final wishes and other preferences before you start creating your will (which will then be duplicated for your spouse).
Something so simple can make a huge difference.
If you’ve made a will with Fabric, just sign in to update your will and you’ll see an option to add a Trusted Contact of your own.
Fabric exists to help young families master their money. Our articles abide by strict editorial standards.
This article is meant to provide general information and not to provide any specific legal advice or to serve as the basis for any decisions.
Fabric isn’t a law firm and we aren’t licensed to practice law or to provide any legal advice. If you do need legal advice for your specific situation, you should consult with a licensed attorney and/or tax professional.
Fabric Insurance Agency, LLC offers a mobile experience for people on-the-go who want an easy and fast way to purchase life insurance.
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