Can I Make a Joint Will?

Note: The following article is part of our Complimentary Articles Series, designed to provide additional insights and detailed information on specific topics within estate planning.

Alongside this article, we suggest exploring our pillar articles for a comprehensive understanding of general legal issues related to estate planning.

• Can I Challenge or Contest a Will?
• I Think a Will is Invalid. What Do I Do?
• What Are the Rules of Intestacy?
• How Should I Sign My Will?
• What Makes a Will Legal?
• How Can I Revoke a Will?

INTRODUCTION

In estate planning, it's natural to ask whether you can write your Will with a partner, sibling, or even friend. Although, at first glance, this might sound like a feasible and practical approach, it's not a recognised practice for several reasons.

This article dispels some common misconceptions around joint Will and presents Mirror Wills as a strong alternative for individuals seeking common alignment in their estate planning.

JOINT WILLS: A COMMON MISUNDERSTANDING

• Joint Wills Are Not a Recognised Practice: In the strict legal sense, the concept of a single Will document jointly written by two individuals is not recognised under English law. Even with couples, the courts will treat joint Wills as two separate Wills as they are frequently open to disputes after both individuals have died. Since each individual is a separate entity with their own wishes, each individual needs to draft their own independent Will. You cannot have a Will for two people.

MIRROR WILLS: A VIABLE ALTERNATIVE

Mirror Wills provide a more flexible alternative to Joint Wills, allowing each party a workable way to coordinate and align their estate planning with the following broad characteristics:

• Identical But Separate: Typically, each party wishes to have similar terms in their Wills, and these terms are "mirrored."

• Named Beneficiaries: The named Beneficiaries in both Mirror Wills will be the same and agreed upon by both parties in the Mirror Wills. This ensures consistent distribution of the Estate after both parties pass away.

• First Death: When the first partner dies, the surviving partner inherits the deceased individual's assets.

• Second Death: When the surviving partner passes away, the remaining assets are distributed to the Beneficiaries, as instructed in both Mirror Wills. 

ADVANTAGES OF MIRROR WILLS

Mirror Wills are not just a helpful estate planning tool for couples but also for siblings, best friends, or any two individuals who agree on how to divide their assets.

This method guarantees that the desires of both sides are in agreement and are recorded in detail, offering a simple plan for the distribution of assets.

Mirror Wills have the following advantages:

• Simplicity: A Mirror Will offers a mutually understood, explicit plan for distributing each party's assets upon death.

• Flexibility: They can be tailored to the terms and conditions of an agreement between two people, not just couples.

• Alignment: They make sure that the intentions of the two people are in agreement, particularly when it comes to shared assets or beneficiary plans.

• Independence: Despite their similarities, each Mirror Will remains an independent document. This independence ensures that either party can modify their Will without needing the other party’s consent (however, remember that this could lead to potential complications if one party changes their Will following a relationship change or a change in intentions).

Need to know more?

If you're considering a Mirror Will, it's crucial to ensure both your wishes are accurately reflected. If you're unsure how to proceed, speak with a professional like Squiggle for a free, initial, no-obligation call, and we'd be happy to present you with some options.

Book a callback, and we'd be happy to arrange a no-cost, no-obligation discussion with you to lay out the options available.

Alternatively, call us on 01233 659 796.

Or reach out to us here.