Updating Your Will: Do You Need a Codicil or a New Will? (part 1 of 2)

During your lifetime, you will need to make updates to your estate planning documents, including your will. This will allow your needs to continue to be met as you continue through life. Without updating, your current wishes may not be respected. If youre ready to make changes to your will, you may be unsure how to handle updates. Take a look at the following information, to better understand your choices. If you have any questions, or if youd like to review your will, contact an estate planning attorney.

 

What is a codicil?
A codicil (i.e. amendment) allows you to make small changes to your current will. This document is used to explain the changes that will be made. It can be used to add certain things to your will, or to revoke things that youve outlined in a previous will. A codicil is something that shouldnt be done on your own. You want to ensure that your updates are legal and valid, so its important to work with an estate planning attorney.

 

How do I decide if a codicil is the right choice?
If you dont want to create a new will, you may be looking to utilize a codicil. This can be an option, if youre only making minor changes. Before computers and in the time of lengthy wills, codicils were quite popular; today, preparing and executing a new will is typically the appropriate way to go. If you have questions about whether to make an entirely new will, or make small updates with a codicil, its always a good idea to get the advice of an estate planning attorney.

 

Should I just create a new will?

 

Take a look at our next blog post (part 2 of 2), to learn more about updating your will. You will learn some of the reasons why it may be beneficial to create a new will, instead of executing a codicil. If you have any questions, or if youd like to review your will, consult with a qualified estate planning attorney.