Mutual Will


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Mutual Will

A will executed by a married or partnered couple. Under a mutual will, the surviving spouse is bound by the will's terms after the first spouse dies. In general, mutual wills exist to ensure that property is passed to children of the couple after both spouses die; for that reason, they are most useful if the surviving spouse remarries.
References in periodicals archive ?
Dorothy's transfer of funds from the sale of her home into three accounts held in joint tenancy with Thomas violated the contract embedded in her mutual will with Robert.
In an earlier case, the North Carolina Supreme Court recognized the general principle that a mutual will may be revoked, unless made in pursuance of a contract.
These cases show it is important to understand the difference between Mirror Wills (which can be changed) and Mutual Wills (which cannot).
The elderly couple had made mutual wills appointing the other as sole executor to their assets.
They executed mutual wills, both of which provided that, if a disclaimer was made by the decedent, the disclaimed portion of the estate would go into a trust.