Joint and Mutual Wills

You and your partner have decided that you want to create wills. Now the question becomes do you create a mutual will or a joint will? A joint will is a single will made by two people where the two individuals leave everything to each other. The major minus of a joint will is that they can tie up property for years, pending the second death of the surviving partner to the joint will. The survivor of a joint will must live with the stipulations of the will because the deceased party is not around to approve any changes.

A mutual will between two parties will accomplish the same effect of a joint will without the hassle of tying up property for years. In mutual wills, each party completes a separate will and leaves the property to his or her partner. In the event a change needs to be made to either will, the parties do not have to get the approval of one another.

Having a will gives those involved a definite peace of mind. If you are in need of a will, check out MyLegalEdge.com. If you don’t see the document you need, just e-mail us at staff@mylegaledge.com.