Jon Golding looks at some will drafting clauses and omissions which can affect tax liabilities and potentially create problems.
The contrast between a ‘mirror will’ and a ‘mutual will’ is markedly different.
‘Mirror’ vs ‘mutual’ wills
A mirror will is one which is identical to that of the spouse or partner. These mirror wills are generally the most popular and cost-effective option for couples when considering estate and future planning, as they each may typically state (for example) that the couple leaves everything to one another and then on to their children.
On the other hand, mutual wills follow the long held doctrine of mutual wills which are made by two people. Typically, the wills have the same inheritance terms, with the agreement that neither party shall alter or revoke either of their wills
