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Mutual Wills Package with Last Wills and Testaments for Married Couple with Adult and Minor Children - Missouri

Mutual Wills Package with Last Wills and Testaments for Married Couple with Adult and Minor Children - Missouri 2025

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The document provides detailed instructions for completing mutual wills for a married couple with minor and adult children in Missouri. It outlines the necessary fields to fill out, including personal information, specific bequests, appointment of guardians and trustees, and provisions for debts and expenses. The document emphasizes the importance of proper execution in front of witnesses and a notary public to ensure the wills are valid and can be probated. Additionally, it includes explanations of various articles within the will that cover distribution of property, appointment of personal representatives, and considerations regarding joint property.

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What are the disadvantages of a joint will?

The Drawbacks of Joint Wills Lack of Flexibility: One of the main issues with joint wills is their inflexibility. Once one spouse passes away, the surviving spouse cannot alter the will. This could pose challenges if circumstances change, such as the birth of new grandchildren or changes in financial status.

Should married couples have joint or separate wills?

Potential Problems With Irrevocable Joint Wills Today, estate planning lawyers advise against joint wills, and they are now rarely used. Most lawyers will tell you that married couples need separate wills, or they will point you to different types of trusts.

What are the disadvantages of a mutual will?

However, there are significant disadvantages to mutual wills. First, they heavily restrict a surviving spouses choices. As they cannot validly revoke the mutual will, they are stuck with it for the rest of their life.

What is the agreement to make mutual wills?

an agreement by two people to make Wills on the same binding terms; having not revoked his/her Will one party dies and the other survives; and. equity imposes a trust.

What is the difference between a joint will and a mutual will?

Here are the typical steps to creating a joint will: Discuss Agree on Key Decisions. Inventory Assets. Decide on Beneficiaries. Choose an Executor. Consult with an Estate Planning Attorney. Draft the Will. Review Update Your Will as Necessary. Sign the Will in the Presence of Witnesses.