Why make a Codicil?You can make minor alterations to your Will without the necessity of drafting a new Will by using a document called a Codicil. A Codicil confirms a previous Will document but makes a few changes.
If a small number of changes are required it is a simpler alternative to re-writing the entire Will. By using a Codicil any of the details in a Will can be changed. Gifts can be revoked and new gifts can be added, or you can change the Executor. Get Your FREE Codicil Pack Below! |
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A few things to note about codicils:
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You should update your Will in each of the following circumstances:
The Codicil should be kept with the Will but not attached to it as this will render both the Will and the Codicil void (invalid due to tampering). |
Sometimes, changes will be of such a nature that it would be advisable to draft a new Will to incorporate them. Alternatively, the changes may be minor or small in number, in which case the alternative is to draft a Codicil to be included with your existing Will. A Codicil is far simpler and more cost effective alternative to simply re-writing your entire Will.
It is important to note that codicils must adhere to the same legal standards as the will to which they refer. For example, if the original document was signed by two separate witnesses then the codicil must follow the same standards. Pre-prepared codicil documents are widely available, and in many cases these will be sufficient. However, it is vitally important that the correct legal formats are followed in order to ensure the validity of the document.
A Codicil allows a person to modify provisions in his or her will without drafting an entirely new will. For example, if a testator (one who makes his or her own will) wants to modify, revoke and/or add a provision to his or her will, this form can be used to accomplish such a task.
When creating a Codicil, it is very important that you are specific regarding any changes that you wish to make to your Will by means of a Codicil. Be descriptive and, preferably, let some other person read your proposed changes to see if what you have written accurately conveys how you wish your modified Will to read.
It is important to note that codicils must adhere to the same legal standards as the will to which they refer. For example, if the original document was signed by two separate witnesses then the codicil must follow the same standards. Pre-prepared codicil documents are widely available, and in many cases these will be sufficient. However, it is vitally important that the correct legal formats are followed in order to ensure the validity of the document.
A Codicil allows a person to modify provisions in his or her will without drafting an entirely new will. For example, if a testator (one who makes his or her own will) wants to modify, revoke and/or add a provision to his or her will, this form can be used to accomplish such a task.
When creating a Codicil, it is very important that you are specific regarding any changes that you wish to make to your Will by means of a Codicil. Be descriptive and, preferably, let some other person read your proposed changes to see if what you have written accurately conveys how you wish your modified Will to read.
A Codicil can include a section which explains why you are making the change this is generally called a "Recital". The Recital is not necessary to make the Codicil valid, but it can explain the reason the Codicil was made. If the Testator explains the reason in a clear and concise manner, the Codicil will be more understandable to a judge or others who are trying to decipher the intent of the Testator, after the Testator has died.
Once you have completed a codicil to your existing will you should place the original with your original will and provide your executors with a copy. A copy codicil should be clearly marked copy and should remain unsigned as with your original will.
The person who is signing this Codicil should sign and print his or her name exactly how it appears on his or her Last Will and Testament.
You do not have to use the same witnesses who witnessed your original will but they must be independent people and should not be husband and wife. Remember they are witnessing your signature and not the content of your codicil.
If you are unsure that the bequest you wish to make or the way in which you have written or presented your instructions are unclear please consult a solicitor who will be able to advise you on adding a codicil to your existing will. It is not necessary to have your will rewritten just because you wish to add an additional instructions.
There are several common life changes which could affect your Will.
Once you have completed a codicil to your existing will you should place the original with your original will and provide your executors with a copy. A copy codicil should be clearly marked copy and should remain unsigned as with your original will.
The person who is signing this Codicil should sign and print his or her name exactly how it appears on his or her Last Will and Testament.
You do not have to use the same witnesses who witnessed your original will but they must be independent people and should not be husband and wife. Remember they are witnessing your signature and not the content of your codicil.
If you are unsure that the bequest you wish to make or the way in which you have written or presented your instructions are unclear please consult a solicitor who will be able to advise you on adding a codicil to your existing will. It is not necessary to have your will rewritten just because you wish to add an additional instructions.
There are several common life changes which could affect your Will.
MarriageAny Will created prior to a marriage will be invalidated by the marriage unless special provision is made within the Will itself. If you are making a Will and know that you will be soon be getting married, it is possible to specify that the Will should endure – however, if you did not foresee the marriage when you put together the Will, or if no provisions were included, then you will have to make a new one to provide for your new circumstances. These rules also apply to civil partnerships.
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Divorce
Getting divorced does not invalidate the entire Will, but it does cancel any part of it which names your spouse as a beneficiary. As with marriage, it is possible to specify in a Will that you would like your spouse to remain as beneficiary even if you were to divorce. However, this is rarely done as no married couple wants to imagine that they will end up getting divorced, and if it does occur then the relationship may have deteriorated to the point where they would not want their spouse as a beneficiary anyway.
Also note that if you should name your spouse as an executor of your estate and then get divorced, they are no longer legally entitled to act in this role. If you failed to name more than one executor, this means the rules of intestacy will be used to determine who is responsible for administering your estate. This will usually mean your next of kin is granted responsibility over your property and possessions – which may not be what you wanted. This is one of several reasons for ensuring that you name more than one executor in your Will.
As with marriage, these rules are also applicable to the dissolution of a civil partnership.
Also note that if you should name your spouse as an executor of your estate and then get divorced, they are no longer legally entitled to act in this role. If you failed to name more than one executor, this means the rules of intestacy will be used to determine who is responsible for administering your estate. This will usually mean your next of kin is granted responsibility over your property and possessions – which may not be what you wanted. This is one of several reasons for ensuring that you name more than one executor in your Will.
As with marriage, these rules are also applicable to the dissolution of a civil partnership.
Changes to Your Estate
If you lose a lot of money which you had planned to leave to beneficiaries, or you sell or lose possessions or property which were promised to someone in your Will, this can cause problems when your estate is administered. While it will probably not invalidate the Will, it will complicate the process for the people you have elected to be executors, and some of your beneficiaries may end up losing out. This means that it’s very important to update your Will if there are significant changes to what you own.
Tax Changes
If you’ve optimised your Will to minimise Inheritance Tax (IHT), changes in the rate could easily affect your preparations. Furthermore, attempts to reduce IHT may incur other taxes, such as Capital Gains Tax, and if these rates increase then your strategies for avoiding IHT could leave your beneficiaries worse off. It’s always important to keep an eye on the tax rates, or have an accountant advise you on them, so you can ensure that your Will makes the best use of your available assets.
Changes of Executors
Unforeseen circumstances may lead to your choice of executors becoming unsuitable. For example, executors may pass away before you do, or ill health may lead to them being unfit to administer your estate. On the other hand, it could be something more mundane – they may rethink the decision to act as executors, your relationship with them may change, or you may decide that you would like your estate to be administered by a professional executor.
Changes of Beneficiaries
This is usually more of a personal decision than anything that threatens to cause problems with your Will, but you may decide that you wish to remove someone as a beneficiary, add someone new, or change how much or what certain people will receive from your estate. The death of a beneficiary will also affect your Will.
Ways to Change a WillThe difficulty of changing your Will depends on the working practices of the solicitor or service you used to write it in the first place. Some solicitors will insist on rewriting the entire Will and charge the same as if you had wanted to write a new one; others may offer a reduced rate for alterations. This latter approach is becoming increasingly common today, as the use of word processing software makes it far easier to make changes to the original document. Generally, the creation of a new Will is the optimal solution when you want to make changes, as it means that you have an up-to-date document which will specify that any Wills predating it are no longer valid.
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Codicils
However, if your solicitor insists on charging full price, it may be possible to make changes to your Will without having to draft an entirely new one, with the use of a codicil. This is a document which amends one or more sections in your original Will without replacing it entirely. Because a codicil is separate from, and less complicated than, a Will, you will likely be able to get it for a price lower than that of a full rewrite.
A codicil must be signed and witnessed in the same fashion as a Will. It’s important to note that, just as a beneficiary of a Will cannot also serve as a witness, it’s inadvisable for anyone named as a beneficiary in either the Will or the codicil to serve as witness to the codicil’s signing. In some cases, this may invalidate their position as a beneficiary, even if the codicil itself makes no mention of them.
It is becoming general practice nowadays to write a new Will rather than use a codicil, as this method avoids any confusion and ensures that there is no disagreement over which document is valid, but codicils do still have their uses, mostly as a lower cost alternative when dealing with a more traditional solicitor.
A codicil must be signed and witnessed in the same fashion as a Will. It’s important to note that, just as a beneficiary of a Will cannot also serve as a witness, it’s inadvisable for anyone named as a beneficiary in either the Will or the codicil to serve as witness to the codicil’s signing. In some cases, this may invalidate their position as a beneficiary, even if the codicil itself makes no mention of them.
It is becoming general practice nowadays to write a new Will rather than use a codicil, as this method avoids any confusion and ensures that there is no disagreement over which document is valid, but codicils do still have their uses, mostly as a lower cost alternative when dealing with a more traditional solicitor.
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