Mirror Wills

DogWalker24

Hi there, I need some advise relating to Mirror Wills.

The section below is taken from my late uncles Will, I am trying to understand what the 'Absolute residuary gift' means in relation to his estate. Has he left everything to his wife and if so can she change her Will? And does that meant that everything under section 'B' become irrelevant?  

Transfer to trustees

·      SUBJECT to the trusts DECLARED above my Executors shall transfer to or otherwise place under the control of the Trustees the Trust Fund to be held upon with and subject to the following trusts powers and provisions of my Will

Absolute residuary gift

A.    SUBJECT to the trusts DECLARED above my Executors SHALL HOLD my Estate for my wife NAME absolutely PROVIDED that my wife NAME shall survive me by twenty-eight days

B.    SUBJECT as above my Executors SHALL HOLD my Estate and DIVIDE into two equal shares as to:

o   one share or shares for such of my wife's nephews and niece's as shall survive me and if more than one in equal shares absolutely

o   one share or shares for my niece NAME absolutely

FlorayG

I don't understand the section quoted but I do know that the person named in a mirror will can definitely change their will once the other person dies because then everything that is left to them belongs to them to do whatever they want with. My parents had mirror wills, my mom inherited everything and then changed her will to leave it to different people to those she had previously  agreed with my dad

p00hsticks

FlorayG said:

I don't understand the section quoted but I do know that the person named in a mirror will can definitely change their will once the other person dies because then everything that is left to them belongs to them to do whatever they want with. 

There are also (but much more rarely) mutual wills, which do NOT allow the survivor to change their will after the death of the first. How you identify a mutual will, I don't know.....

DullGreyGuy

p00hsticks said:

FlorayG said:

I don't understand the section quoted but I do know that the person named in a mirror will can definitely change their will once the other person dies because then everything that is left to them belongs to them to do whatever they want with. 

There are also (but much more rarely) mutual wills, which do NOT allow the survivor to change their will after the death of the first. How you identify a mutual will, I don't know.....

They are more restrictive than that... it will also restrict them on giving gifts etc out of the estate during their lifetime hence why they have fallen out of favour and instead lifetime trusts have taken over. 

It also only applies to the original estate so if they gain additional wealth post the death of the first life then that can be dealt with as they see fit on the death of the second life. Inevitably this lead to a lot of disputes such as if they started living the highlife after the death of their husband and their lottery win was that spend out of the estate bound by the mutual will or out of the lottery money that is covered by a separate will.