Advocate M. Sameer Husaain has bachelor degree of commerce (B.Com) and master of Commerce (M.Com) de... Read More
Why is necessary to make a mutual will?
<span style="font-size: 13px; line-height: normal; white-space: pre-wrap;">Why would someone make a mutual will?</span><br>
- Sector-1, Noida
Mutual wills are preferred by couples in a second marriage with children from a previous relationship or marriage but are usually considered by 'first time' married couples or civil partners. These people consider mutual wills because they think they will impart absolute certainty in effecting agreements between them that, on death, they shall each leave their property to each other and/or their children. The most common (simple) example of a mutual will would be a husband leaving his property to a spouse for life with the remainder going to their son or daughter while the wife's will would leave her property to the husband for life with the remainder to the son or daughter (the same would apply to registered civil partners). After the husband's death, the wife is bound by the arrangement, so that on her death both estates would pass to their son or daughter. This remains the case even if the son or daughter dies before the wife, which can lead to additional complications
Answered on 28 Sep 2018
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