Many clients who “just want a simple will” are looking for reciprocal wills: They want to provide for their spouse when they die and take care of their minor children if both parents are deceased. Reciprocal wills are separate wills that are mirror images of each other. Generally they provide that if one spouse dies, then everything will be left to the surviving spouse or partner; and when both parties pass away, everything shall go to the children (or some other agreed upon beneficiaries).
Reciprocal wills are not joint wills, but they may serve the same purpose—assuming that neither party changes their wills before their death. These types of wills often include guardianship provisions and a trust for minor children that may be beneficiaries. Reciprocal wills do not fit every couple’s situation. They should be tailored to meet each family’s or individual’s estate planning needs.
