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What is meant by the term jointly and severally when used in a will?
Wiki User
∙ 15y ago
The legal term is not generally used in terms of a will. It is a legal term used in contract law meaning that if a member of a group is unable to fulfill his or her contractual obligations the other members of the group are responsible.
Wiki User
∙ 15y ago
When specified in a will, "jointly and severally" means that two or more beneficiaries are entitled to the entire share of an inheritance, and they are each individually responsible for the inheritance tax liability on the entire amount. This gives the executor the flexibility to collect the tax from any of the named beneficiaries.
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