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When it comes to estate planning, many couples in the UK opt for mirror wills as a straightforward way to ensure their assets are distributed according to their wishes. But what exactly is a mirror will, and how does it work? In this comprehensive guide, we’ll explore the ins and outs of mirror wills, including their benefits, potential drawbacks, and how they differ from other types of wills.
A mirror will is a set of nearly identical wills created by two people, usually a married couple or civil partners. Each person’s will “mirrors” the other’s, hence the name. In a typical mirror will arrangement, each partner leaves their entire estate to the other upon their death. If both partners die simultaneously or the surviving partner passes away, the estate is then distributed to their chosen beneficiaries, often their children.
Mirror wills are popular among couples who want to ensure that their partner is provided for and that their assets ultimately end up with their desired beneficiaries. They offer a simple, straightforward approach to estate planning for many families.
Let’s consider an example to illustrate how mirror wills function. Imagine a married couple, John and Sarah, who have two adult children. John and Sarah create mirror wills, each leaving their entire estate to the other. In the event of one partner’s death, the surviving spouse inherits everything. If both John and Sarah pass away, their wills stipulate that their estate will be divided equally between their two children.
This arrangement provides peace of mind for John and Sarah, knowing that their partner will be taken care of and that their children will ultimately receive their inheritance.
There are several advantages to creating mirror wills:
While mirror wills offer numerous benefits, there are some potential drawbacks to consider:
It’s important to understand how mirror wills differ from other types of wills, such as mutual wills and joint wills.
Mutual wills are similar to mirror wills in that they are created by two people, usually a couple, and contain nearly identical provisions. However, mutual wills include a legally binding agreement that prevents the surviving partner from changing their will after the other’s death. This ensures that the couple’s agreed-upon beneficiaries will inherit the estate as intended.
A joint will is a single document that serves as the will for two people, typically a married couple. Joint wills are less common than mirror wills and may not be legally recognised in some parts of the UK. They can also create complications if one partner wishes to make changes to the will or if the couple divorces.
Deciding whether a mirror will is the best option for your estate planning needs depends on your individual circumstances and goals. Mirror wills can be an excellent choice for couples who:
However, if you have a blended family, a complex estate, or concerns about the surviving partner changing the will, you may want to consider alternatives like mutual wills or trust arrangements.
If you’ve decided that mirror wills are the right choice for you and your partner, it’s essential to work with a qualified solicitor or will-writing service to ensure your wills are legally valid and accurately reflect your wishes. Be sure to:
By taking the time to craft comprehensive, well-thought-out mirror wills, you and your partner can enjoy the peace of mind that comes with knowing your estate will be handled according to your wishes.
While mirror wills express a couple’s shared intentions, they do not create a legally binding agreement between the partners. The surviving partner can change their will after the other’s death.
Yes, each partner can change their individual will without affecting the other’s. However, it’s essential to communicate any changes to ensure that both wills continue to reflect the couple’s shared wishes.
The cost of creating mirror wills varies depending on the complexity of your estate and whether you use a solicitor or a will-writing service. On average, expect to pay between £100 and £500 for a pair of mirror wills.
If one partner dies without a will (intestate), their estate will be distributed according to UK intestacy laws. This may not align with the couple’s wishes and could potentially disinherit the surviving partner or other intended beneficiaries.
Deciding whether a mirror will is the best option for your estate planning needs depends on your individual circumstances and goals. Mirror wills can be an excellent choice for couples who:
However, if you have a blended family, a complex estate, or concerns about the surviving partner changing the will, you may want to consider alternatives like mutual wills or trust arrangements.
Mirror wills offer a simple, cost-effective solution for many UK couples looking to create a straightforward estate plan. By understanding the benefits and potential limitations of mirror wills, you can make an informed decision about whether they are the right choice for you and your partner. Remember, estate planning is an ongoing process, and it’s crucial to review and update your wills regularly to ensure they continue to reflect your wishes and circumstances.
The information provided in this article on what you should never put in your will is for general informational purposes only and does not constitute formal legal advice. While we strive to provide accurate and up-to-date information, laws and regulations may change over time. For your specific situation, it is always best to consult with a qualified professional who specialises in wills and estate planning. They can guide you through the process of properly drafting and executing your will, ensuring it is legally valid and tailored to your unique needs. Services like XWills.com offer expert will writing assistance from licensed professionals. Speaking with them directly will give you the personalised attention and formal legal guidance needed to achieve your estate planning goals and protect your legacy.
Co-Founder, CEO and Senior Will Writer at Xwills.com
Andrew Walters is the co-founder and CEO of Xwills.com, an estate planning firm that combines technology with personalised customer service to elevate the will writing experience. As a full member of the Society of Will Writers, Andrew is committed to upholding the highest professional standards in the field.
Driven by a passion for providing comprehensive support to clients, Andrew pursued formal qualifications in will writing and estate planning. This journey led to the establishment of Xwills, where he and his team fill a gap in the market by offering a tailored alternative to online-only will writing services.
At Xwills, Andrew ensures that each client receives the time and attention needed to understand their specific requirements. He strongly believes that something as important as writing a will should not be rushed or done without expert guidance.
As a member of the Society of Will Writers, Andrew adheres to their code of practise and continues to expand his knowledge through annual training.
His expertise, combined with Xwills’ commitment to customer service, positions him as a trusted resource for those seeking to protect their legacy and provide for their loved ones.
With his dedication to professionalism and personalised service, Andrew Walters is setting a new standard in the estate planning industry.
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