What are Mirror Wills and Mutual Wills? It’s an interesting question…
They are NOT the same and in this article we’ll explain the differences and what you may wish to consider.
Firstly, Mirror Wills are a type of Will where a couple – typically (but not always) a husband and wife make the Wills together, with mirror provisions so that if one of them dies, the other automatically inherits their Estate etc..
Mutual Wills are not the same. Mutual Wills are a type of Will where a couple make Wills, but they are binding on each other. The couple essentially state that the wishes will be carried out and that they won’t change their Wills.
When a couple makes Mirror Wills, they are essentially making the same Will. The main difference between Mirror Wills and other types of Wills is that Mirror Wills have mirror provisions for example: It’s not uncommon for a couple to make Wills which say: “I want everything to go to my spouse and then on their death, down to the kids”. Note that this isn’t the language we would use to draft a Will. Mirror Wills are often used by couples who want to ensure that their assets are passed on to their spouse in the event of their death. If you’re unmarried and want a partner to benefit you definitely need Wills.
Mutual Wills are where Wills are drawn up by a couple who follow an agreement that during their lifetime they will not change their Wills without the consent of the other. They are essentially binding on one another but are no longer common. The main thing to understand is that they do differ.
Mirror Wills are far more common and typically, mutual Wills are not favoured by practitioners because of their inflexibility. Wills have changed a lot over the last 30+ years and it’s imperative that you seek legal advice to ensure that your estate goes where you want and expect. In any case, without a Will, you have little or no control over these decisions.
Sara at SLS Wills and More founder – Sara Sheppard has 35+ years experience in Wills and Estate Planning would be happy to provide a free consultation. Essentially, we are happy to help with advice and to ensure your chosen type of Will carries out your wishes.
