What are Mutual Wills?
Press the blue button above to start building your Mutual Wills. In the first instance, you leave everything to each other. After you both die then you are leaving everything to the same group of people (such as children or friends). Mutual Wills are also called 'Mirror Wills'. This is because each Will mirrors the other.
If you are not leaving everything to each other, in the first instance, then you can’t build Mutual Wills. Instead, build two separate single Wills.
Why no Testamentary Trusts in our Wills?
When you press the blue 'Build' button above, you start building Mutual 'simple' Wills. They contain no Testamentary Trusts. A 'Testamentary Trust' helps your beneficiaries save on the 4 de facto death duties:
- Capital Gains Tax
- Income Tax
- Stamp Duty
- up to 32% tax on your Superannuation
While Testamentary Trusts cost more to build on our website they make it easier for your family to avoid death duties. Rather have Testamentary Trusts in your Wills? Then build your Mutual Wills with Testamentary Trusts here.
For legal advice telephone us. We are a law firm. We can help you answer the questions as you build your Will.
Adjunct Professor, Dr Brett Davies, CTA, AIAMA, BJuris, LLB, LLM, MBA, SJD
Legal Consolidated Barristers and Solicitors
Australia wide law firm
Mobile: 0477 796 959
National: 1800 141 612