When should you amend a will using a codicil, rather than write a new will?
A codicil is a legal document that amends or adds to a will. It is a separate document from the will, but it must be signed and witnessed in the same way as a will.
The most common reasons for using a codicil include:
Changing the name of a beneficiary: For example, if your daughter got married and changed her name.
Revoking a specific gift that you have made in your will: For example, if you sold your car.
Adding a new gift to your will: For example, if you bought a new car to replace one mentioned in your will.
Changing the executor of your will: For example, if your previous executor passed away.
There are a few reasons why you may want to amend your will using a codicil rather than writing a new will:
You only need to make a small change: If you only need to make a small change to your will, such as changing the name of a beneficiary or adding a new gift, you can do so using a codicil. This can be a quicker and easier process than writing a new will.
You want to keep your will confidential: If you write a new will, you will need to give it to your executor. However, if you only make a codicil, you can keep it with your original will and only give it to your executor when you die. It should be noted that this is a risky strategy, it is usually better for your executor to have your complete set of wishes before you pass away, as this will help them to understand how to carry out your wishes when you pass away. If you are concerned about keeping your will confidential, you should speak to a professional who can act as an executor if necessary.
You are concerned about the cost of writing a new will: Writing a new will can be more expensive than adding a codicil if you are using a solicitor to draw it up. However, many will writing services, including Will Easy, can update your will for a small fee, which is comparable to adding a codicil.
However, there can be some significant drawbacks to using codicils:
It can be difficult to keep track of codicils: If you make multiple codicils to your will, it can be difficult to keep track of which changes take precedence. This is because a codicil only amends the will as of the date it is signed. So, if you make a codicil that changes the beneficiary of a gift, and then you make another codicil that changes the beneficiary back to the original person, the second codicil will not be effective.
A codicil can be challenged: If someone challenges your will, they may also challenge the codicil. The more codicils that you have, the more likely they are to be challenged. For example, if they contradict what is written in either your will and/or other codicils, or if they haven’t been signed and/or witnessed properly.
If you are unsure whether to amend your will using a codicil or writing a new will, you should consult a solicitor.
If in doubt, we usually recommend writing a new will over using a codicil as it helps to maintain your complete set of wishes in a single source of truth. However, you still need to ensure that your executors have access to your latest will.
You can also choose to include wishes that you know might change in the future, such as gifts of personal items, in a separate letter of wishes to your Executors. While a letter of wishes does not carry the legal weight of a will, they can make it easier to manage, especially when it concerns items that are not likely to be disputed.
