Here's a closer look at the types of wills available.
A simple will enables you to:
- Appoint an executor and substitute executors for your assets.
- Appoint a guardian/trustee, where necessary.
- Make specific gifts of your assets to named beneficiaries and the proportion to be given.
- Name an immediate substitute beneficiary in the event the original beneficiary does not survive you.
Mirror wills are identical wills made by two people, most commonly between husband and wife. It exists when one spouse wishes the other spouse to receive income from the estate during his/her lifetime and then to have it divided among their children. Either testator can revoke their Will during their lifetime, provided they have mental capacity.