A codicil is a document – like an appendix – that may be added to an existing Will to make minor adjustments, add new instructions, or revoke sections of the Will.
A codicil to a Will can be added to update the name of one or more Executors or to take into account a new funeral plan or other arrangements. You may have newly born or adopted children or grandchildren whom you wish to include in your Will, or your financial circumstances may have changed, requiring you to change the details of your Estate to incorporate new property or other items.
The codicil should be properly prepared, signed, witnessed, and treated with the same care as the original Will to which it is attached. The codicil must also be shown to relate to the original Will and must specifically detail what and how it is altering the Will.
You can draft and sign off a codicil yourself, just like the Will, but it is always a good idea to consult a professional to check that any codicils you add to your Will are legally sound and Will stand up in court if the will is ever contested.
You can include as many codicils as you need to in a Will, but it is vital that the will be clear and easy to read so that the Probate process is as simple as possible after you die. If the Will becomes extremely detailed with several alterations, it may be wiser to prepare a new Will that incorporates all of the changes into one document.
Capital Life’s team of specialists can assist you with writing, amending, or consolidating one or more codicils, ensuring that the inheritance planning process is straightforward, stress-free, and simple. Contact them right away to learn more about their affordable services.