Reciprocal Wills

Posted on November 11, 2010

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A Reciprocal Will works generally for married couples, usually identical wills leaving all properties to who passes away first, or of course other bequests to family and friends. This document should cover payment of debts, and specific bequests. In case the person who is the beneficiary does not survive, there should also be a contingent beneficiary mentioned as well.
 
Other things to research are what if there is a disaster, or accident? The Uniform Simultaneous Death Act states that if a married couple dies within a week of each other, each is considered to have predeceased the others. The Act clears up who are the heirs to a person who has died without a will, or intestate.

 See Axsmith.net for more details.  Christine Axsmith, Esq. is a Washington, DC – based attorney specializing in foreclosure fraud, illegal foreclosure, real estate fraud.  Her credentials can be viewed at her LinkedIn profile.  The Axsmith Law website has a wealth of information for review related to elder law and foreclosure prevention. 

Other sources of valuable information are the AARP website, the Federal Trade Commission website and the HUD website.  See Axsmith Law web site to speak to an attorney.

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