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Joint and Mutual Wills (560 words) |
 | If the first spouse dies and the survivor probates the joint and mutual will, the survivor is contractually bound to leave his or her estate in accordance with the distribution scheme in the will. |
| If all children named in the will are to receive equal shares, the surviving spouse is contractually obligated to dispose of the estate equally to all children, including the step-children. |
| "Arkansas recognizes reciprocal wills, whether joint or mutual, as a legitimate estate planning device to effect the intent of a married couple to dispose of collective property, generally, the surviving spouse is required to dispose of the collective property according to the joint will or mutual will." Gregory v. |
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OSCN Found Document:Estate of Richardson, Matter of (1754 words) |
| In other words, Appellant contends Olleen Richardson's revocation of the mutual wills by the execution of a will in 1987 only revoked the will as to her and that the 1983 mutual will may be admitted to probate the estate of George Richardson. |
| The law does not hold it to be a single will because all the makers have subscribed the same instrument or have declared it to be their last will and testament in the presence of the same witnesses and at the same time, but views it as the separate act of each. |
| To deprive either testator of a joint and mutual will of the right to revoke such mutual will it is necessary to show by clear and satisfactory evidence that the will was executed pursuant to a contract between the parties. |
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