Introduction
This article is one of a set about wills. While some of the information pages explain various pieces of legislation which are relevant to making a will, others explain a particular aspect of will writing that you might like to consider.
This article explains the role of a mirror will and how it could help your position.
What is a mutual will?
Mutual wills comprise a contract between the two testators. The benefits promised do not have to be the same for each. It is important in mutual wills that both parties are making their promises after proper personal advice as the effect of the contract. Although a will cannot be irrevocable, a person making a mutual will may not be aware of this and may not be aware that the other party may break the promises made. The Net Lawman system does not provide for mutual wills.
Why make a mirror will?
Mirror wills do not cause the same problems. They are usually made by husband and wife, or life partners. They are made in the same terms each to benefit the other, with or without other gifts and provisions. Mirror wills are not irrevocable. Either party can change his mind at any time and make a different will. Any Wills-and-Probate.com will can be a mirror will. All you have to do is buy a will once and use it twice!
What are the benefits of each?
While a Mutual Will can help to ensure that on a second marriage the Estate of the second party to die passes with total certainty, it has the drawback that Wills drafted as Mutual Wills provide complete inflexibility. While the Chancery Division of the High Court can enforce a Mutual Will of a surviving spouse if made after the death of the first spouse, such a Will is far more onerous being in itself a contract with a Trust imposed on it.
However, unlike Mirror Wills which may be changed after the death of a spouse, Mutual Wills do achieve greater certainty that the wishes of the spouse who dies first will be met on the death of his or her surviving spouse. It is important to specify a Mutual Will is such a Will and this description should be referred to in a Will of this nature.
If by chance you find some error of law or fact in any Net Lawman information page, do please tell us. We should also welcome your suggestions for new subjects for information pages. These notes:
Do not provide a complete or authoritative statement of the law;
Do not constitute legal advice by Net Lawman;
Do not create a contractual relationship;
Do not form part of any other advice, whether paid or free.
