New Mexico Mutual Wills containing Last Will and Testaments for Unmarried Persons living together with No Children

A joint will is a legal document executed by two (or more) people, which merges their individual wills into a single, combined last will and testament. Like most wills, a joint will lets the will-makers name who will get their property and assets after they die. Joint wills are usually created by married couples.

As the name indicates, reciprocal wills between spouses are essentially two separate wills that are mirror images of one another.After specific transfers to beneficiaries, the surviving spouse will then receive the entirety of whatever is left of the decedent's (spouse who passed away) estate.

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.

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.

A joint will is a legal document executed by two (or more) people, which merges their individual wills into a single, combined last will and testament. Like most wills, a joint will lets the will-makers name who will get their property and assets after they die. Joint wills are usually created by married couples.

There have been examples of joint wills being upheld by the law, but it is on the basis that they are two wills, separately proved; and the second person is at liberty to change the will anyway (unless it is a valid mutual will).

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.

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.

A mutual Will is where two (or more) testators make Wills which mirror the contents of the other(s). However, mutual Wills cannot be altered upon the death of one of the testators.