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Estate Law

Trusts

Trustees of Discretionary Trusts

Express Trust Formalities

Reform Presumed Resulting Trusts

Resulting Trusts

Discretionary Trusts Beneficiary Rights

Introduction to Secret Trusts

Secret Trusts

Enforcing a Trust

Certainty of Intention

Certainty of Objects

Certainty of Subject Matter

Special Duties of Trustees

Trusts

After Death

Challenging a Will

Making a Dependency Claim

Contesting a Will

Types of Grant and Who Can Apply

Inheritance Provision for Family and Dependants

Provision for Family and Dependants

Trustees Appointing Replacement

Perpetuities and Accumulations Rules

What Happens to Your Body When You Die

Introduction

Making a Will

Probate

When to Write a Will

Formalities of Making a Will - S.9 Wills Act

Executors

Rules of Intestacy

Inheritance Tax

Inheritance Tax on Gifts

Power of Attorney

Mental Capacity and Power of Attorney

Documents

A Living Will

Deed of Variation

Mutual Wills

Codicils and Revoking Wills

Dying Intestate

Revocation of a Will

 

What is a mutual will?

A mutual will is where two or more persons each agree to execute a separate will disposing of their property in a certain way.

Why it is important to make a will

A will details who shall benefit from your possessions and your estate (property) following your death.

These are some of the reasons why it is beneficial to make a will:

Married couples often make wills in substantially similar terms, they agree to leave their property to each other, but on the second death the property generally goes to their children (or otherwise as agreed)

The making of a mutual will

Each will has terms that are usually very identical or similar and confer reciprocal benefits – an example of this would be a husband, wife or civil partner may leave their property to each other with the same provision should the other predecease.

This in itself however is not enough to constitute making a mutual will. An arrangement or agreement to make such wills and not to revoke them without the consent of the other (s) must exist.

Mutual wills are usually made by spouses or civil partners to put in to effect any agreements between them that, in the event of their deaths, they shall each leave their property perhaps to any children of the marriage.

A mutual will can be executed by two or more persons. 

Things to include in a mutual will

It is important to think about what you both wish to include in the mutual will prior to the creation of the wills, it is usually a good idea to consult a solicitor before you begin the writing of the wills.

You will need to consider:

Keeping your mutual will up-to-date

It is important to review your will every five years and after any significant major changes in your life such as getting married or divorced, having a child or buying a new house. Any changes to your will must be made by “codicil” which means an addition, amendment or supplement to your existing will, or by making a new will.

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