Mutual Will Template

Overview

In India, mutual wills are legal papers that enable two or more people to determine how their possessions will be distributed upon their deaths. A testamentary will, which is a will created by a single person, is not the same as a mutual will. Only when at least one witness signs a testamentary will does it become enforceable. Two or more people who are not related to one another can make a joint will. 

The names of the authors, the date the will went into effect and the names of any witnesses must all be listed on the signed and dated document. A description of the assets being transferred and a clause allowing for payments to be made from them after death must also be included in the deed.

By lowering the quantity of paperwork that must be submitted to the court, a mutual will can make estate planning easier. Anybody who wants to create a mutual will should discuss their legal rights and choices with a lawyer. 

What is a joint will?

A joint will is a single document that contains the wills of two or more “testators,” or the people who make the will. A combined will is regarded by the law as consisting of two or more individual wills. The combined will is admitted to probate as though it were the deceased testator’s will when the first testator passes away.

If no new will has been produced since the joint will was created, the second testator’s will is accepted to probate as though it were his or her own.

What is a mutual will?

When two or more testators create separate wills or a joint will and agree to give reciprocal advantages to each other or to the same beneficiaries, this is known as a mutual will.

The two testators must specifically agree that their wills will be irrevocable and unchangeable in order for them to be regarded as mutual wills. Usually, each testator will include such an arrangement in their will. It may, however, be made verbally (if the agreement does not touch land) or in a separate document. 

What is the effect of a mutual will?

When two people make mutual wills, if one of them passes away and the deceased testator upholds the arrangement, the remaining testator or testators will retain the deceased testator’s assets and property in “trust.” A surviving testator or testators commit fraud if they fail to carry out their end of the bargain, such as by revoking or changing their own will. If an application is submitted to the court, the court is likely to deny the revocation or alteration.

The surviving testator is not bound by the agreement and is therefore free to cancel or alter their own will if the deceased testator did not uphold the agreement, such as if they changed or revoked their will prior to their passing.

Mutual wills may have the consequence of limiting a living testator’s ability to manage both their own assets and/or the assets they inherited from the deceased. Since the mutual will is likely to be enforceable, issues may also arise if one of the testators gets married again after creating it. Many legal advisors do not suggest mutual wills because of these factors. 

Three Types of Joint Wills

When the first spouse passes away, the goal of a joint will, mutual will and mirror will is the same: to transfer the entire estate to the surviving spouse. The children of the pair inherit everything when the second spouse passes away. Usually a married couple, these wills are executed for two or more people.

• Unlike a standard last will and testament, a joint will and testament cannot be altered or revoked without the consent of both parties. The surviving spouse is unable to amend or revoke the first spouse’s will after their death. The terms of the partnership will not change and the surviving spouse is still required to abide by them even if they remarry.
• Mutual wills consist of two identical wills with a codicil—a legally enforceable addition—that specifies how the property is to be divided. The surviving spouse cannot make changes to the will following the death of the first spouse and these wills cannot be altered or annulled without the approval of both spouses. 
• Mirror wills are two separate, typically identical wills that distribute assets to the surviving spouse in a manner that is similar to each other. Mirror wills can be altered when circumstances change, which is how they vary from mutual wills.

Points to Remember in Mutual Will

• In India, both the grantor and the beneficiary must sign a written mutual will.
• Only modest modifications, such as adding or removing beneficiaries, can be made to the will by the grantor. The beneficiary is unable to add or modify any other beneficiaries.
• Within three months following its execution, the will needs to be submitted to the relevant government office.
• A mutual will is not always nullified by the grantor’s passing. However, a judge may rule that the will should be void if there is disagreement over who should receive what. 

Benefits of Mutual Will Registration

In India, mutual wills play a significant role in the legal system. They enable a legally binding agreement to be made by two or more individuals about the division of property and other assets upon death. Conflict over who should get what when someone passes away may be less likely with this kind of agreement. If you wish to choose a guardian for your children and make other significant estate planning decisions, mutual will registration is also helpful.

In India, there are a number of advantages to using mutual wills. First, when someone passes away, a shared will can assist lessen the likelihood of a dispute over who should get what. Second, by designating a guardian, they can assist you in making future plans for your kids. Last but not least, mutual wills can guarantee that crucial estate planning choices are made prior to a person’s passing.

Steps to Creating a Mutual Will

The following actions must be performed in order to establish a mutual will:

• Both individuals must be mentally and recollectively sound.
• The will must be signed by both parties in front of two witnesses.
• Additionally, the witnesses must sign the will in front of the two will makers. 

How Mutual Wills Work

In a mutual will, two individuals commit to one another about the distribution of their assets upon their deaths. Both parties sign a written document that contains the promises.

Married couples or close friends who wish to ensure that their property is divided in a particular manner after they both pass away frequently utilize mutual wills. For instance, a couple may decide to leave equal portions of their possessions to each other’s children. 

How to Prepare a Mutual Will?

You must first make a list of all the assets and property you wish to divide among your beneficiaries in order to draft a joint will. After that, you can draft a will that outlines all of your property and names the beneficiaries. Lastly, the will must be signed by each of your beneficiaries.

How to Execute a Mutual Will in India?

In India, the following procedures must be followed in order to carry out a mutual will:

• Both parties must sign the will, which must be in writing.
• Two witnesses must attest the will.
• Additionally, the witnesses must sign the will in front of the two will makers.
• The court must get a copy of the will. 

How to Get a Will Probate?

The legal process of demonstrating that a will is legitimate and that the deceased person passed away with the assets specified in the will is known as probate.

In India, the following procedures need to be followed in order to have a will probated: 

• The court must receive the will.
• An administrator will be chosen by the court to divide the assets in accordance with the will’s provisions.
• Before distributing the property, the administrator must have the will probated.
• Obtain copies of all your supporting documentation, including marriage and birth certificates and present these to the court along with a copy of your will from the court where it was filed. 

Mutual Will Template

A Mutual Will is typically created by two people (usually spouses) who agree to make reciprocal provisions for each other in their wills. Upon the death of one party, the surviving person will inherit everything, but after their passing, the property is distributed according to the mutual agreement.

——————————————————————————————————————————–

Mutual Will Template

Mutual Will Agreement between [Full Name of Testator 1] and [Full Name of Testator 2]

This Mutual Will is executed on [Date] by [Name of Testator 1], aged [Age], residing at [Full Address] (hereinafter referred to as “Testator 1”) and [Name of Testator 2], aged [Age], residing at [Full Address] (hereinafter referred to as “Testator 2”).

Recitals:

• Both Testators are of sound mind and capable of making this Will.
• The Testators wish to make reciprocal provisions in the event of their death.

1. Appointment of Executors:

We, [Full Name of Testator 1] and [Full Name of Testator 2], hereby appoint [Executor’s Name], residing at [Executor’s Address], as the Executor of this Will.

2. Declarations of Our Wishes: 

A) Distribution of Estate Upon First Death:

Upon the death of either Testator, the surviving Testator shall inherit the full estate, subject to the following bequests:

Testator 1’s Bequests:

• All movable and immovable property, including the house located at [Property Address], shall pass to Testator 2, [Full Name of Testator 2].
• Bank account with [Bank Name], Account No: XXXX, shall be transferred to Testator 2, [Full Name of Testator 2].

Testator 2’s Bequests:

• All movable and immovable property, including the plot of land at [Land Address], shall pass to Testator 1, [Full Name of Testator 1].
• [Jewelry/Items] listed in the attached schedule shall pass to [Specific Beneficiary], [Relationship].

B) Distribution of Estate After Death of Surviving Spouse:

Upon the death of the second Testator, our estate shall be divided as follows:

• [Beneficiary 1 Name]: [Percentage of estate/Specific assets]
• [Beneficiary 2 Name]: [Percentage of estate/Specific assets]

3. Binding Nature of This Will:

We declare that this Mutual Will is binding upon us and neither of us shall alter the terms of this Will without the written consent of the other party.

4. Additional Provisions:

• In the event of the death of a beneficiary before the second Testator, their share shall be redistributed among the surviving beneficiaries in equal proportion.
• [Any charitable donations or special instructions].

5. Revocation of Previous Wills:

We, by this document, revoke all previous Wills made by us individually or jointly. This Mutual Will supersedes any prior Will or codicil made by either party.

6. Execution and Witnesses:

This Will has been executed in the presence of [Names of Witnesses], who attest to the fact that both Testators have signed this Will voluntarily and without coercion.

Signed,

——————————-

[Signature of Testator 1]

——————————-

[Signature of Testator 2]

Witnesses:
This Will is executed in the presence of the following witnesses:

1. Witness 1: [Name, Address, Signature]
2. Witness 2: [Name, Address, Signature]
3. Witness 3: [Name, Address, Signature]

———————————————————————————————————————

Joint Will Template

A Joint Will is typically a single document made by two people (often spouses) where they agree to leave their estate to each other and then to the same beneficiaries. This differs from a Mutual Will in that it can be altered or revoked after the first death, unlike a Mutual Will, which is typically irrevocable.

Joint Will Template

JOINT WILL OF [FULL NAME OF TESTATOR 1] AND [FULL NAME OF TESTATOR 2]

This Joint Will is made and executed on [Date] by [Full Name of Testator 1], aged [Age], residing at [Full Address] (hereinafter referred to as “Testator 1”) and [Full Name of Testator 2], aged [Age], residing at [Full Address] (hereinafter referred to as “Testator 2”).

Recitals:

• Both Testators are of sound mind and are making this Will voluntarily.
• This Will reflects the joint wishes of both Testators regarding the distribution of their estate.

1. Appointment of Executors:

We hereby jointly appoint [Name of Executor], residing at [Executor’s Address], as the Executor of this Joint Will. The Executor shall be responsible for administering our estate, including the collection, management and distribution of assets in accordance with this Will.

If the appointed Executor is unable or unwilling to act, we appoint [Alternate Executor Name] as the alternate Executor.

2. Declarations of Our Wishes:

A) Distribution of Estate Upon the Death of the of the First Testator

In the event of the death of either Testator, the surviving Testator shall inherit the entire estate of the deceased. This includes all movable and immovable properties, as well as financial assets, debts and liabilities. The surviving Testator has the right to manage the estate as they see fit, with no restrictions.

Example:

• All real estate owned by Testator 1, including the house at [Address], shall pass to Testator 2, [Full Name of Testator 2].
• Bank accounts with [Bank Name], Account Numbers [Numbers], shall pass to Testator 2, [Full Name of Testator 2].
• The collection of jewelry, including [specific item], shall also pass to Testator 2.

B) Distribution of Estate Upon the Death of the Surviving Testator

Upon the death of the surviving Testator, the entire estate of both Testators shall be distributed as follows:

• Beneficiary 1: [Full Name], [Relationship], shall inherit [Specify percentage or specific asset(s)].
  • Example: 50% of the estate shall go to our son, [Son’s Full Name], who resides at [Address].
• Beneficiary 2: [Full Name], [Relationship], shall inherit [Specify percentage or specific asset(s)].
  • Example: 25% of our bank balance in [Bank Name] shall go to [Beneficiary 2 Name], our daughter.
• Beneficiary 3: [Full Name], [Relationship], shall inherit [Specify percentage or specific asset(s)].
  • Example: 25% of the estate shall go to the charitable trust named [Charity Name].

If any of the above beneficiaries predeceases us, the share that would have been inherited by the deceased beneficiary shall pass to [Alternate Beneficiary Name], as specified in this Will.

3. Bequests & Gifts

• We each make the following specific gifts to certain individuals and organizations:

To [Beneficiary Name]:

• [Specify gift, e.g., a car, a specific piece of jewelry or a personal heirloom]
• Example: “I give my diamond ring to my daughter, [Name], to be kept as a family heirloom.”

To [Charity or Organization Name]:

• [Specify donation]
• Example: “We both agree to donate a sum of ₹[Amount] to [Charity Name], an NGO working for the welfare of [Cause].”

4. Revocation of Previous Wills:

We hereby revoke all prior Wills made by us individually or jointly and this Joint Will supersedes all such Wills.

5. Binding Nature of This Will:

We understand that this Joint Will represents our collective intent and will be effective upon the death of the second Testator.

6. Conditional Clauses (if applicable)

If there are specific conditions attached to the inheritance, such as reaching a certain age, meeting educational requirements or other conditions, these should be clearly stated.

• Example: “I give 25% of my estate to my son, [Son’s Name], on the condition that he has completed his higher education by the time of my death. If he has not, then the gift shall be redirected to [Other Beneficiary Name].”

7. Execution and Witnesses:

This Will has been executed in the presence of [Names of Witnesses], who attest to the fact that both Testators have signed this Will voluntarily and without coercion.

Signed,

———————————

[Signature of Testator 1]

———————————

[Signature of Testator 2]

Witnesses:

1. Witness 1: [Name, Address, Signature]
2. Witness 2: [Name, Address, Signature]
3. Witness 3: [Name, Address, Signature]

Frequently Asked Questions on Mutual Will Template

Q1. What is a mutual will and how does it differ from a joint will?

Ans1. A mutual will is an agreement between two or more individuals to distribute their assets upon death, often with identical terms and a clause that makes the will irrevocable without mutual consent. A joint will, on the other hand, is a single document created by two or more individuals but treated as separate wills for probate purposes.

Q2. Are mutual wills legally binding in India?

Ans2. Yes, mutual wills are legally binding in India when signed by the testators and two witnesses. Once executed, they can only be altered or revoked by mutual agreement between the testators.

Q3. Can a mutual will be changed after one of the testators dies?

Ans3. No, a mutual will cannot be changed by the surviving testator after the death of one of the testators if the agreement specifies irrevocability.

Q4. What are the steps to creating a mutual will in India?

Ans4. To create a mutual will in India, both parties must:

1. Be mentally sound.
2. Draft and sign the will in the presence of two witnesses.
3. Ensure the witnesses sign the will in their presence.

Q5. How does a mutual will affect the distribution of assets after the death of one testator?

Ans5. After the death of one testator, the surviving testator holds the deceased’s assets in trust and is legally obligated to distribute them as per the terms of the mutual will.

Q6. What are the main differences between mutual wills, joint wills and mirror wills?

Ans6. Mutual wills are legally binding agreements between testators with irrevocable terms. Joint wills are single documents for multiple testators but treated as separate wills in probate. Mirror wills are separate, identical wills that can be altered if needed.

Q7. What are the benefits of registering a mutual will in India?

Ans7. Registering a mutual will in India reduces disputes over asset distribution, ensures legal recognition and helps in appointing guardians for children or making significant estate planning decisions.

Q8. How does a mutual will impact remarriage by the surviving testator?

Ans8. A mutual will can limit the surviving testator’s ability to manage or distribute inherited assets, even after remarriage, as they are bound by the terms of the agreement.

Q9. What is required for a mutual will to be probated in India?

Ans9. To probate a mutual will in India, the will must be submitted to the court. The court appoints an administrator to execute the will’s terms and distribute the assets accordingly.

Q10. Why do legal advisors often discourage the use of mutual wills?

Ans10. Legal advisors discourage mutual wills because they can restrict the surviving testator’s rights over their own and inherited assets and complications may arise if one testator remarries or disputes occur.