Joint Will.

 

A joint will, also known as a mutual will or mirror will, is a legal document created by two or more individuals, usually spouses or partners, who wish to make similar provisions for their assets and beneficiaries upon their deaths. It is called a "joint" will because the terms of the wills are usually identical or nearly identical.

In a joint will, each individual's wishes are typically expressed in separate sections or clauses within the same document. The provisions may include the distribution of assets, appointment of executors or trustees, and designation of beneficiaries. The main purpose of a joint will is to ensure that both parties' wishes are respected and carried out after they pass away.

One important characteristic of a joint will is that it generally limits the ability of the surviving individual to change or revoke the terms of the will after the first person dies. This is because the terms of the will are intended to be binding on the surviving party. However, the surviving individual is typically allowed to make changes to the will as long as both parties are still alive.

It's important to note that the laws surrounding wills can vary by jurisdiction, so it's advisable to consult with an attorney who specializes in estate planning and probate in your specific area to ensure that your joint will is valid and enforceable.