Solicitors Bournemouth guide to mirror wills.
A mirror will is when a husband, wife or unmarried partner arrange wills that are almost identical in nature.
For example, both people can leave their estate to each other should one pass away. And in both mirror wills their may be a clause which leaves both estates to any surviving children should both parents pass away at the same time. (If there aren’t any children then the estates may pass to a beneficiary named in both wills).
It is usual for the partners to be both the sole beneficiary and the executor named in each other’s will.
We recommend that another executor is added to each will just in case both partners pass away at the same time. If you have siblings you may choose to have a different executor to your partner. Or if you have a close friend of the family that is suitable you may have a common executor.
If you have children less than 18 years of age it is also wise to name guardians for your children. We do not recommend naming different guardians in mirror wills as this could lead to problems should both partners die at the same time.
Marriage of a surviving partner and mirror wills.
When you leave everything to your surviving partner you have to trust they will carry out your wishes. This is particularly the case where there are children involved and the surving partner may remarry.
There is a possible disinheritance of children when this happens as the marriage normally revokes an earlier mirror will. Therefore, it is wise for both partners to realise that should one of them survive the other and decide to remarry, it is important to have a new will drawn up by the surving partner that benefits the children from the first partnership of marriage.
The alternative is to use “Life interests” which are often used when someone would like their surviving spouse to have the right to remain in the matrimonial home until they die but would ultimately like their children to inherit their estate.
A life interest can be granted when you set up a Trust within a will. This is a slightly more expensive way of setting up a will, however it is a protection that many people take out in order that their children eventually benefit.
Please contact me for any information on life interests or mirror wills and I will be happy to help in more detail.
We hope you found this guide to mirror wills from Solicitors Bournemouth useful.
Solicitors in Bournemouth
Hamilton Court House, 1-3 Alum Chine Rd, Bournemouth BH4 8DT
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