Published on: 27th March 2017

Mirror Wills Vs Mutual Wills

When you are in a relationship and you wish to pass "everything to each other on first death and then, for example, to the children on second death" there are two distinct ways of writing your Wills. Either type of Will can be created whether you are married or (civil) partners. However, the different types of Wills can have very different impacts on what will happen to your estate after you have passed away. It is particularly important to look at both the advantages and disadvantages of each type of Will.

As the title suggests, Mirror Wills mirror each other; they are almost identical Wills. Effectively A leaves everything to B on first death and B leaves everything to A on first death. Each Will goes on to state the same on second death. Usually this is to distribute to children or chosen beneficiaries. Mirror Wills can be revoked providing you have the mental capacity to do so. You can at any time, decide to revoke your current Will and create a new one. This does mean that after the first death of A or B the survivor can change their Will. They might, for example, meet a new partner and leave their estate to their new partner and their children from their first marriage/partnership might lose out. We call this "sideways disinheritance". This contrasts to Mutual Wills, in which both A and B agree not to revoke their Will without the consent of the other. Upon first death, the surviving spouse/partner cannot amend their Will or the distribution of any assets mentioned in their Mutual Will. This is because when a Mutual Will is made, a legally binding contract is created between the two parties, thus only allowing amendments to be made with the permission or agreement of the other party. This gives the spouse/partner who passes away first, a better peace of mind that the total estate will be distributed according to their agreed wishes when the second passes away. However, a mutual Will can be very restrictive for the surviving spouse/partner as it limits any amendments they would wish to make to their own Will. Mutual Wills are quite rare now because usually we can create a trust that gives the first to die the necessary "peace of mind" that their assets will not be lost to "sideways disinheritance" but in certain circumstances Mutual Wills can be of benefit. To arrange for one of our Consultants to visit you in the comfort of your own home to discuss this further, please click here.

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