Colorado Mutual Wills or Last Will and Testaments for Unmarried Persons living together with Minor Children

As mutual wills are binding, the key purpose of such wills is to ensure that property flows to intended, agreed, beneficiaries. They are generally used to ensure that a testator's property can be enjoyed by another during his or her lifetime, but then passes to a third party, the 'ultimate beneficiary.

For a will to be valid in Colorado, it must be signed by a minimum of two witnesses. Witnesses may not be beneficiaries of the will. Testators may choose to attach a self-proving affidavit to the will that affirms that the will was properly executed.

The court recognises that all Wills can be revoked but in the case of mutual Wills, equity will protect and enforce the interests created by the agreement for the benefit of the beneficiaries.

Wills in Colorado A will is the most common estate planning docu- ment that all individuals should create regardless of their financial status.The will must be witnessed by two uninterested parties or notarized by a Notary Public authorized to take acknowledgments.

You can make your own will in Colorado, using Nolo's Quicken WillMaker & Trust. However, you may want to consult a lawyer in some situations. For example, if you think that your will might be contested or if you want to disinherit your spouse, you should talk with an attorney.

Mutual Wills are Wills drawn up by at least two people and are signed following an agreement between the individuals which it is intended should bind the survivor of them. Each individual agrees with the other not to alter their Will after the other dies.

Married couples often execute wills which are identical in their provisions, frequently giving the estate to the surviving spouse or if the spouse does not survive to the children.However, not every mirror will is a "mutual will", indeed very few mirror wills are mutual wills.

The mutual wills can be revoked during the lifetimes of both testators, but, on the first death, the survivor is prevented from making a new will in the future.

The reason is that making it impossible for the surviving spouse to change the terms of the will can turn out to be a very bad result. The survivorwho may live years or decades after the first spouse's deathcannot react to changed life circumstances, and the family may suffer as a result.