People often confuse the terms “Mutual Will” and “Mirror Will”. However, in law they are two very different things, and it is important to be precise.
So, what is the difference between a mirror will and a mutual will?
A mirror will
This is a will that simply “mirrors” another will.
They are generally made by couples whose wills are very similar. A common scenario is a wife leaving everything to her husband and the husband leaving everything to his wife. On the death of the survivor the estate passes to their children.
In this way the two wills mirror each other.
However, both parties are completely free to revoke their will and make another at any stage.
A mutual will
A mutual also involves two people making a will. However, the crucial difference is that it creates a binding legal agreement. Unlike a mirror will, the survivor agrees not to change their will and honours the terms of the Mutual Will regardless of their current circumstances and possible new family structure.
Mutual wills involve complex legal principles and professional legal advice should always be taken where they are encountered.
For a mutual will to be created there must be clear and convincing evidence of a binding intention between the two parties that neither one should be entitled to revoke their will without the other’s consent.
Mirror wills and mutual wills: which is most suitable?
Mutual wills are not very common, and we do not tend to recommend them to our clients on a routine basis.
Their biggest drawback is their inflexibility. Once a couple have made mutual wills there is no going back unless both parties agree. If the first client passes away then the second client is bound by the original will and cannot make any future changes – both parties need to be alive and in agreement to make changes to a mutual will.
Mirror wills are much more straightforward. However, because the survivor is free to revoke their will and make a new one family disputes could arise. For instance if a couple make mirror wills in the terms described above there is likely to be an expectation that the survivor will honour the intention of leaving the combined estate to the couple’s children. But what if the survivor remarries? Will they make provision for their new partner in a new will? And what about the new partner’s children? If the new couple themselves enter into mirror wills, will provision be made for the children of the first relationship to receive what was originally intended if the new partner survives?
With family structures becoming increasingly complex and fragmented these are important questions to consider when making a will.
BOOK A FREE CONSULTATION with one of our Will Writing experts today, we can offer a free will review service, so you can relax knowing that your most valued assets are passed on to the right people when you are no longer there to make sure they are.