Mutual Wills
Mutual Wills involve contracts to make Wills. It is
important to understand and carefully work through the issues that
are involved in such contracts. Professional assistance will
be required.
Mutual Wills are not often made. They are only used in
special circumstances. It may, for instance, be appropriate
for blended families. The parties need to be well informed of
the effects of the contractual arrangement, and that by making the
contract they are losing the power to dispose of their own property
freely both whilst alive and by Will.
"Reciprocal" or "corresponding" Wills are different.
Spouses may make substantially identical provisions in their
respective Wills. However, unlike Mutual Wills, there is no
contractual obligation to make or maintain Wills with those
provisions.
Who might it be appropriate for?
Mutual Wills are useful, but only in a limited number of
circumstances. It is likely that there will be other options
that need to be considered as to whether they are more appropriate
alternatives than the use of Mutual Wills. It will depend
upon your circumstances and the decisions that you make.
It will be necessary to take the same approach as for the
preparation of a "Standard" or "Standard Plus" option and
consider the appropriateness of implementing your objectives
through the use of Mutual Wills.
Read examples
of where it may be appropriate.