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

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The document provides detailed instructions for completing mutual wills for a married couple with adult children in Missouri. It outlines the necessary fields to fill out, including personal information, specific bequests, and the appointment of a personal representative. The document emphasizes the importance of proper execution, including witness signatures and notarization, to ensure the wills are legally valid. Additionally, it explains various articles related to debts, property distribution, and powers granted to the personal representative.

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What happens to a joint will when one person dies?

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.

How to make mutual wills?

Mutual wills on the other hand are very different. They are, in effect, a contract with the other person making a will. In that agreement you both agree you will not change your will at a later date, in return for the other person agreeing the same. This effectively creates a trust when the first person dies.

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.

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 difference between a joint will and a mutual will?

Every will shall be in writing, signed by the testator, or by some person, by his direction, in his presence; and shall be attested by two or more competent witnesses subscribing their names to the will in the presence of the testator.

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