Are you and your partner looking to secure your future together and ensure your shared wishes are honoured after you are gone? Mirror Wills offer a straightforward and efficient way to safeguard your legacy and provide peace of mind for your loved ones. These legally binding documents, essentially identical for each partner, create a unified plan for your estate that reflects your joint aspirations.
Why Choose Mirror Wills?
Mirror Wills present a practical and effective solution for couples with aligned estate planning goals. They ensure a harmonious and consistent distribution of assets, minimising potential conflicts or misunderstandings among family members.
Here are some key advantages of mirror Wills:
- Mutual protection: By reflecting each other's wishes, you ensure financial security for your partner in the event of your passing, guaranteeing that your assets transfer seamlessly to them.
- Provision for children: Mirror Wills allow you to clearly outline how your estate will be divided among your children or other beneficiaries after both partners have passed away.
- Simplicity and efficiency: Creating two identical Wills is often a more straightforward and cost-effective process than drafting individual, complex Wills.
What Happens If You Don't Have a Will?
Mirror Wills offer a practical and efficient solution for couples with shared estate plans. They establish a unified strategy for asset distribution, promoting consistency and minimising potential conflicts or misunderstandings among family members.
By reflecting each other's wishes, you ensure financial security for your partner in the event of your passing, guaranteeing that your assets will be transferred to them. Mirror Wills also allow you to clearly outline how your estate will be divided among your children or other beneficiaries after both of you have passed away.
Drafting two identical Wills is often simpler and more cost-effective than creating individual, complex Wills, making it a sensible choice for many couples.
When Should You Consider Making a Mirror Will?
Mirror Wills are a practical and thoughtful choice for couples in various stages of life and relationships.
Married Couples or Civil Partners
Mirror Wills offer a straightforward way to ensure that your assets pass to your spouse or partner upon your death and to your chosen beneficiaries. This can provide peace of mind and clarity in estate planning.
Couples Who Own Property or Assets Jointly
For couples who share significant assets, mirror Wills can simplify the inheritance process and avoid potential complications that may arise from differing wishes. By aligning your wills, you ensure a smooth transition of property and assets.
Couples with Children
Parents who want to ensure their children are financially stable will find mirror Wills particularly beneficial. These wills allow you to appoint guardians for your children and secure their future in case both parents pass away.
Couples Who Want to Ensure Their Wishes are Aligned
If you and your partner have discussed your legacy and share similar goals for your estate, mirror Wills can formalise those intentions. This minimises the chance of future disagreements and ensures that your shared wishes are respected.
While mirror Wills are a valuable option for many couples, it is important to note that they may not suit everyone. If your estate planning needs are complex or you have unique concerns, exploring other Will types or additional legal mechanisms may be advisable.
Frequently Asked Questions
What Happens to a Mirror Will if One Partner Dies?
When one partner passes away their mirror Will becomes their last Will and testament. Their estate is distributed according to the terms outlined in the Will. The surviving partner's mirror Will remains in effect and can be amended or revoked as they see fit.
Can I Change My Mirror Will in the Future?
Yes, you can change your mirror Will at any time, as long as you have the mental capacity to do so. However, it is crucial to inform your partner if you make changes to your Will, as their Will may need to be updated to maintain the mirrored nature. If you want to ensure the Wills cannot be changed after one person's death, you can opt for a mutual Will contract.
Can I Include Specific Bequests?
Yes, mirror Wills can include specific bequests, allowing you to leave particular items or sums of money to individuals or charities. These specific bequests must be identical in both Wills to maintain the mirrored structure.
How Much Do Mirror Wills Cost?
Garratts offers transparent and competitive pricing for mirror Wills. Our standard fee for standard mirror Wills is £350 plus VAT. This includes a comprehensive service with consultations, drafting, revisions, and execution. Additional fees may apply for complex situations. Please review our wills and probate fees page for detailed information or contact us for a personalised quote.
