Broward Florida Agreement to Execute Mutual Wills
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FAQ
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.
A mutual will is an agreement between individuals to not revoke or alter their wills, except as provided for in the agreement. Evidence of an agreement not to revoke a will must be clear and unequivocal.
For Mutual Wills to be binding there must be an agreement made between the Testators. For the agreement to be legally binding the testators must agree not to revoke the Wills and then make the Wills in light of the agreements made. Mutual Wills differ to other types of Wills, such as Mirror Wills.
Also known as a Mutual Will, a Joint Will covers the estates of two people in a single legally binding document. This would involve appointing the same executor and beneficiaries within the one legal Will. When one partner passes away, their estate is automatically left to the surviving person and cannot be updated.
As per the law, the joint assets are owned by both individuals hence both individuals i.e. husband & wife should make a Will either two separate Wills or one single Joint Will.
To clarify, a joint will is different from a mutual will. A joint will is one document signed by two people. A mutual will represents two individual wills that are signed separately, but are largely the same in content.
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.
Florida does not recognize handwritten or joint wills. Mutual wills are an option in Florida but are best for couples who do not have children. Florida does not recognize nuncupative or deathbed wills.
A popular option for many married couples or life partners is to make mirror wills. These are almost identical wills where both partners leave their estate to the other. You also name the same people and organizations as your secondary beneficiaries.
Mutual Wills are Wills usually made between two persons - often spouses or partners. Mutual Wills are done simultaneously and are usually accompanied with a binding contract which both parties execute, agreeing to not change or revoke their Wills, without the express permission of the other party.
