Contractual Will Agreement

The contractual agreement can be modified or revoked until the end of the first deceased. Thereafter, the agreement is no longer revocable. Gloria & Jay have children from previous marriages. They let themselves do everything. If the last one dies, everything will go to all the children in the same way. A contractual agreement of will protects this contractually. Prior to September 1, 1979, whether a couple wanted their will to be contractual in nature was a factual issue “to be determined by the jury or another factist.” This can sometimes give unintended results. What happens if the survivor executes a new will that is contrary to the terms of the contractual will? If this new will is offered to the estate, the remaining beneficiaries of the contractual will can contradict the new will and instead offer the contractual will. The main advantage of mutual wills is that you have a common agreement with the person who terminates the contract.

This means that the other person`s will cannot be revoked without your consent…

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