Tax Planned Will Precedents, 4th Ed. § 2:59
Tax Planned Will Precedents, 4th Edition
Alison Scott Butler, Heather Babcock-Cormier
Chapter 2. Part II Expositive Clauses—Commentary and Alternate Clauses For Essential Elements of the Will
III. Clause 2 Revocation
§ 2:59. Agreement to Enter Mutual Wills
We have agreed to execute mutual wills which cannot be amended or revoked without:
(i)     written notice to, or
(ii)     the consent of,
the other. We acknowledge that after the death of the first of us, the survivor will not have the ability to revoke or amend his or her will. Without limiting the foregoing, it is our intention that the survivor may make administrative changes to the will, including substituting executors, and any other changes necessary to minimize taxes payable and maximize any benefits that may be owing to either of us or our respective estates.
This agreement and the corresponding wills apply to all of our property, including any after-acquired property, save and except [CONSIDER ANY EXCLUSIONS -FOR EXAMPLE ANY PLANS THAT ARE BENEFICIALLY DESIGNATED IN EXISTENCE AT THE TIME THE WILLS ARE EXECUTED UNLESS INCLUDED IN THE WILLS, CONSIDER THE EFFECT OF ANY PRE-EXISTING CONTRACTUAL OBLIGATIONS -FOR EXAMPLE MARRIAGE CONTRACTS].
Unless otherwise excluded above, the terms of our respective wills gift to the survivor all our property absolutely and he or she may deal with this property as he or she sees fit in his or her sole and absolute discretion,1 even to the extent of depleting all the assets. It is however, our expectation that the survivor will not make gifts or otherwise dispose of the property in a manner which will defeat the terms of this Agreement and the gifts set out in our wills.
Dated [INSERT DATE]

Witne​ss:
	 
	Testa​tor Name:

		
Witne​ss:
	 
	Testa​tor Name:

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Footnotes	
1	This phrase on its own would leave it open for the spouse to defeat the terms of the wills by making inter vivos gifts that could not otherwise make by will. See Stuart v. Stuart, 2019 ONSC 4328, 2019 CarswellOnt 11522 (Ont. S.C.J.) which illustrates the interpretation difficulties raised when providing for an absolute and unfettered discretion and then limiting such discretion. See also Nelson v. Trottier, 2019 ONSC 1657, 2019 CarswellOnt 9447 (Ont. S.C.J.).

 	
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