IWC are regulated by the Society of Will Writers and Estate Planning Practitioners

 

A mutually irrevocable Will is a Will that a couple can make to ensure that once the first partner passes away the remaining partner can not change their Will. This is a very useful tool for couples who have children from previous relationships who would like to leave everything to each then upon the second death they need to ensure their own children still inherit.

Let us clarify:

 

Supposing Mr & Mrs xx had both been married before and they both had two children from previous relationships. Lets also assume that they owned their property jointly.

 

When married couples make Wills they generally leave everything to each other. In a standard Will Mr & Mrs xx would leave everything to each other then on the death of the second person their Will would say that the house should divide between all of the four children.

 

If Mr xx were to die the house passes to Mrs xx, however supposing some years later Mrs xx no longer saw the children of her late husband. She could write another Will now leaving the house to only her two children. The children of Mr xx would now receive nothing.

 

If Mr & Mrs xx wrote mutually irrevocable Wills upon the death of Mr xx, Mrs xx would never be able to make another Will. If she did the children of Mr xx would be able to make a valid claim against her estate and thus they will receive an inheritance.

 

If you would like to know more with regards to mutually irrevocable wills then please do not hesitate to contact us.

 

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