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Codicils
If you have already made a Will, the 'hard' part is done. However, it is vitally important that once drafted and duly executed, your Will be kept up to date. This involves taking into account any important changes in your circumstances, for example, moving home, birth of more children or a death of a beneficiary.
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.
A Codicil is the means by which minor alterations are made to an existing Will. Such amendments would include:
- Change in appointment of executor or additional appointment
- Change in appointment of Guardians or additional appointment
- Addition of new legacies and/or gifts or alteration of existing legacies and/or gifts
Where you are seeking to make multiple amendments it is better to actually re-write the Will itself and it is good practice to review your Will every two years (every year if it includes tax saving clauses) in order to ensure that it is up to date.
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).
