Codicil
A codicil is a separate legal document that has the ability to change part of or revoke an entire will. Individuals who want to make minor changes to their will can use a codicil to avoid rewriting the entire document. However, it’s generally best to use this estate planning tool sparingly.
What is a codicil?
A codicil is a legal document that allows you to add to or alter specific parts of an existing will. Because this document holds legal significance, you’ll generally need to sign and have it witnessed in the same way you would a will—according to state laws.
That said, a codicil has the potential to introduce unwanted confusion, such as if it contains terms that conflict with the original will or gets separated. For that reason, you may want to reserve codicils for minor changes and consider creating a new will for major amendments.
Ask an estate planning attorney if you’re unsure which is the best route for your circumstances.
Here are a few examples of how someone might use a codicil to change a will:
- To update a beneficiary’s legal name after a wedding or divorce
- To modify who’s designated as an executor or guardian
- To bequeath an item to someone who wasn’t listed in the original will
FAQs
What is the difference between a codicil and an addendum?
Generally, a codicil is the same thing as an addendum to a will. That said, an addendum adds to an existing legal document, while a codicil modifies an existing will.
How much does it cost to add a codicil to a will?
Similar to a will, the cost of a codicil varies widely based on whether you choose to write it yourself, work with an online service, or hire an estate planning attorney.
What makes a codicil valid?
To make it legally binding, write a codicil with the same formalities as a will. That means that it must meet state laws that govern wills and codicils. Although those laws differ by state, they generally require at least two witness signatures in addition to your own. Additionally, the witnesses can't be beneficiaries.
What are the disadvantages of a codicil?
If properly executed, a codicil has the same legal standing as your will. For that reason, having multiple codicils or using them to make major changes to your current will has the potential to introduce confusion into the probate process, which might cause delays and higher legal costs. In some instances, it's better to create a new will that reflects your current familial or financial circumstances.
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