Legal Definitions - mutual will

Definition: A type of will where two people, usually a husband and wife, create separate wills that have identical or similar provisions for the distribution of their estates in favor of each other. It is also possible for the testators to execute a single mutual will, as opposed to separate ones.

Example: John and Jane are a married couple who want to ensure that their estates are passed on to each other after their death. They create separate wills that have identical provisions, leaving their assets to each other. These wills are known as mutual wills.

Explanation: Mutual wills are created by two people who want to ensure that their estates are passed on to each other after their death. The wills have identical or similar provisions, and the surviving testator is required to dispose of the property in accordance with the terms of the will. Mutual wills are usually created by married couples, but it is possible for more than two parties to execute mutual wills.