The ‘Mirror Wills
’ can be described as the agreement between the two people, mostly among couples. The agreement is based upon the disposal of real estate and assets following their death.
As a result of mirror wills, when one of the two people departs, the other is secured with all the financial assets. The generic spouse wills are when one spouse leaves all the assets for the other spouse and then to the children.
For instance, if both spouses are dead, then the assets could be further inherited by the children. The ‘Mirror Will’ contains an identical set of instructions; the only variation is the person’s ‘Name’.
But, if you possess a different opinion about the transfer of assets, it is highly beneficial to opt for separate Wills. In the case of separate Wills, your assets are distributed based on your preferences accordingly.