In accordance with the amendment to the Inheritance Law made in 2005, Section 8A was added to this law, according to which spouses are permitted to make mutual wills, in which they bequeath their property to each other, or to a third party.
In a will, it can be written that the surviving spouse will inherit the other's estate, and after his or her death, the remaining property will be transferred to a third party - such as their common children.
In addition, it is possible to determine from the outset that all property will pass to their children (for example, if the couple is divorced and does not want to bequeath their property to each other, and wants to prevent a situation in which the spouse bequeaths the property to the new spouse).
How are mutual wills prepared?
Mutual wills can be drawn up in one document, prepared by both spouses.
It is also possible to make two wills, which will in fact overlap, but they must be drawn up and signed at the same time, so that there are no time gaps between the documents. It is important to ensure that the provisions of the will are indeed identical, so that there is complete reciprocity.
What can be determined in these wills?
Unlike a regular will, in which the testator can bequeath his estate according to his free will, in mutual wills there is in fact a reliance by one party on the will of the other party, out of a shared desire to do so, and therefore the wills must be identical.
It is important to note that a will cannot be stated in a will as irrevocable. That is, one spouse cannot prohibit the other spouse from changing the will in the future, after his or her death. Such a provision is illegal and must be annulled, as it violates the freedom to will.
How can a mutual will be revoked?
While a regular will can be revoked relatively easily by drafting a new will in which it is recorded that it revokes previous wills, the law stipulates a different arrangement with regard to mutual wills, due to their uniqueness.
If both spouses are still alive, a mutual will can be revoked by written notice from one spouse to the other. Once the notice of revocation has been delivered, both wills are revoked, even if the other spouse does not wish to have them revoked, as they are dependent on and bound by each other.
After the annulment, the parties can make new wills and divide their estate according to their wishes, and are not required to bequeath property to each other.
In the event that one of the spouses dies, and the surviving spouse wishes to revoke his or her own will, this can only be done under stricter conditions and in accordance with the law.
Assuming the estate has not yet been divided, the surviving spouse must waive, in favor of the testator's sibling or child, all rights granted to him under the deceased spouse's will. Only after renunciation can he revoke his will.
If the estate has already been divided, the surviving spouse must return everything he took, and only then can he prepare a new will.
Nothing in this article is intended to replace or substitute for individual legal advice. Reliance on the information is the sole responsibility of the user.
For further questions, please contact: [email protected]
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