mutual will

Mutual wills, also known as reciprocal wills, are agreements between two or more individuals to create wills with similar or identical provisions. These wills typically benefit each other or a common beneficiary. Business partners often create mutual wills to arrange for the transfer of business assets upon the death of one partner.123

A will, or testament, is a legal document outlining how an individual wishes to distribute their property after death. For a will to be valid, it must meet specific legal formalities, which often include being in writing and properly witnessed, though holographic (handwritten) wills may be accepted in some jurisdictions. A will can be invalidated if the testator lacked mental capacity, acted under duress, or was a victim of fraud.45