Codicil Meaning: Making Minor Amendments to Your Will
What is a Codicil? - Meaning
A Codicil is a legal document which lets you make minor changes to your Will, without having to re-write the entire Will.
This is a cheaper and more simple way to amend your Will if changes in your life have taken place or you’ve only now thought of something that you didn’t write in your Will beforehand.
A Codicil must be kept with your original Will and both should be stored in a safe place. We highly recommend talking to your loved ones about your will and where it is, to make things a little easier when the time comes.
Why would I add a Codicil to my Will?
It may be better to make a Codicil if you would like to make small changes to your will. The main reasons for altering your Will and why you would add a Codicil include the following:
Appointing a new executor or substitute executor, e.g. if a named executor has died, can no longer act for you or you have changed your mind
Reflecting changes in your financial circumstances, such as assets (savings, life insurance, etc)
Updating your funeral wishes
Updating your wishes in regards to burial/cremation requests
Changes due to a divorce/dissolution of civil partnership - in these cases it may be better to make a new Will as this is likely to be considered a significant change
Appointing a guardian or substitute guardian if you haven’t named one in your Will (or replacing a guardian/substitute guardian named in your Will)
Revoking a gift to a Will beneficiary
Making a new gift to a Will beneficiary
Making an additional gift to an existing Will beneficiary
Adding a new beneficiary (grandchild, charity, etc)
Revoking a gift to one beneficiary and instead giving it to another beneficiary
How do I write a Codicil?
You can hand-write or type a Codicil. The document needs to state at the top that it is a Codicil, and it must refer to the Will that it is altering.
You would then need to refer to the specific clause in your Will you are altering, and clearly explain the changes.
Can I write a Codicil myself? Does someone need to witness a Codicil being written?
Whilst it is possible for you to write a Codicil yourself, it is important that the Codicil is signed and witnessed in the same way as your Will. This means you should sign and date the Codicil in the presence of two independent witnesses (who are not married or related to anyone in your Will or the Codicil), who also need to sign and complete their details.
The witnesses do not need to be present while the Codicil is being written, but you should all be present at the same time for the signing of the Codicil.
Given that changing your Will is so important, it would be advisable to get a professional to write the Codicil for you, to ensure that it is completed correctly and is legally-valid.
Contact our team at Quick Wills today, to find out how to write a codicil and see how we can help you in amending your will.
Is a Codicil legally binding?
Yes - as long as it is completed, signed, and witnessed correctly.
Can an executor change a will?
No, the executor is not legally permitted to amend someone’s will and add a Codicil to it. The executor(s) must act according to what is stated in the deceased person’s will; in the best interest of the estate and anyone mentioned in the will.
How much does a Codicil cost?
Making a Codicil is cheaper than making a new Will altogether. Get in touch with our specialist team here at Quick Wills today, to find out how to change a will, how much it costs to add a Codicil to your existing will and to get help with writing a Codicil.
How many Codicils can I add to my Will? What if I need to make a big change?
There are no limits as to how many Codicils you can have in your existing will. However, if your Will contains more than five Codicils, it would be advisable to draft a new Will, to avoid any confusion and disputes when the time comes.
Do I need a Codicil or a new Will?
A Codicil is better for when you need to make small changes to your Will, so if you feel that the change you want to make is rather complicated, it would likely be best for you to make a new Will.
There is also the chance that a Codicil may be lost or forgotten by your executor - or they may not know the Codicil exists!
Contact our specialist team at Quick Wills for advice on adding a codicil to a will based on your individual needs and circumstances.