Mirror wills are two nearly identical wills, as the name suggests. They are a popular choice for couples who want to leave everything to each other and their children or other beneficiaries if the second partner passes away. Read on to find out more.

Important Information About Mirror Wills

Mirror will have both benefits and drawbacks.

Benefits

• Simplicity and affordability: Since they are the same, they are less expensive and more straightforward to draft than individual wills.
• Spousal security: They ensure that your spouse will receive everything in the event of your death. This is especially important because unmarried couples are not granted inheritance rights.
• Clarity of wishes: Having mirrored wills reduces the likelihood that people will misunderstand or doubt your intentions.

Drawbacks

Since their wills are separate legal documents, each spouse can change them at any time. This type of will requires a lot of trust, and it’s crucial to remember that neither spouse is legally obligated to inform the other of any changes. Additionally, if your surviving spouse begins dating after your death, they may change their will to distribute their estate to their new partner. This would cover the part of your estate that they inherited. 

Even if your spouse married their new partner without making a new will, their old one would still be void. If they died without a valid will, the new spouse would benefit from the rules of intestacy. In that case, your children might not receive any inheritance and could divide the estate however they wished.

Considerations

• Restricted personalisation – If you have specific bequests or want to account for different financial situations, they might not be ideal.
• Keep them up to date – You must revise both wills simultaneously if your circumstances change (for example, a child is born).
• Simultaneous death – If you die simultaneously, you will need a designated beneficiary because mirror wills do not indicate who will inherit.

Should You Make a Mirror Will?

Mirror wills are a smart option for couples with:

• Typical financial goals and resources
• Complex inheritance arrangements are not necessary.
• A desire to leave everything to each other before distributing it to children or other beneficiaries.

It is always best to consult an estate planning expert to see whether mirror wills suit your situation. They can assist you with the process, ensure your wills are legally enforceable, and handle any specific concerns.

For help with estate planning, contact Probate London on 0208 0171029.