Legal Definitions - double wills

Double wills is a general term referring to two separate but often very similar wills created by two individuals, typically spouses or partners. The primary intention behind creating double wills is for each person to name the other as the main beneficiary of their assets should they pass away first. The specific legal implications of double wills depend on whether they are structured as mutual wills or reciprocal wills.

• Mutual Wills: These are a specific type of double will where two individuals not only create similar wills leaving assets to each other but also enter into a binding agreement that the surviving person cannot change their will after the first person dies. The purpose of mutual wills is to ensure that the ultimate beneficiaries (such as children, specific charities, or other loved ones) designated in the wills remain unchanged, regardless of what the survivor might wish to do later. This agreement makes the wills irrevocable upon the death of one party. While the wills can be altered by both parties before one dies (usually with proper notice to the other), once one person passes away, the survivor is legally bound by the terms of their will and cannot, for example, redirect assets to new beneficiaries or give away property that was intended for the original beneficiaries.

  Examples of Mutual Wills:

  • Scenario 1: Blended Family Estate Planning

    Maria and David, a married couple, each have children from previous marriages, as well as a child together. They want to ensure that after both of them have passed, their shared child, along with all their individual children, receive an equitable distribution of their combined estate. To prevent either surviving spouse from potentially disinheriting the other's children or their shared child after one of them dies, they create mutual wills. Their agreement specifies that once either Maria or David passes away, the survivor's will becomes irrevocable, ensuring the estate is ultimately divided as originally planned among all their children, regardless of future changes in family dynamics or relationships.

  • Scenario 2: Protecting a Charitable Legacy

    Eleanor and Robert, a long-married couple with no children, are passionate supporters of a local animal shelter. They decide to create mutual wills, agreeing that after the first of them dies, the survivor will receive all assets, but upon the death of the second, a significant portion of their remaining estate will be donated to the animal shelter. They explicitly agree that this provision cannot be changed by the survivor. This ensures that their shared philanthropic goal will be honored even if, for instance, Eleanor survives Robert and later develops new interests or relationships that might otherwise tempt her to alter the charitable bequest.

• Reciprocal Wills: In contrast to mutual wills, reciprocal wills are also two similar wills made by two individuals, typically leaving their assets to each other. However, the key distinction is that there is no binding agreement preventing the survivor from changing their will after the first person dies. While the initial intent is for the surviving individual to inherit everything, the survivor retains the full legal flexibility to modify or revoke their own will at any point after their partner's death. This allows for adaptability if circumstances, relationships, or financial situations change significantly for the survivor.

  Examples of Reciprocal Wills:

  • Scenario 1: Standard Spousal Inheritance with Flexibility

    Sarah and Tom, a young married couple, create reciprocal wills. Each names the other as their sole beneficiary, intending for their spouse to inherit all their assets if they die first. They do not, however, enter into any agreement that would prevent the survivor from changing their will. If Tom were to pass away, Sarah would inherit his entire estate. Sarah would then be free to update her own will to reflect her new circumstances, perhaps naming new beneficiaries (like future children or a new partner if she remarries) or adjusting bequests as she sees fit, without any legal constraint from Tom's original will.

  • Scenario 2: Adapting to Unforeseen Future Needs

    Liam and Olivia, a couple in their retirement years, draft reciprocal wills. They want to ensure that if one of them passes away, the other is fully provided for and inherits all their property. They choose reciprocal wills over mutual wills because they want to maintain flexibility. For example, if Liam dies first, Olivia inherits everything. She might then decide to change her will to leave a larger portion to a grandchild who later develops special needs, or to a new caregiver who provides significant support in her later years, without being bound by the original terms set with Liam.