At Bees and Co, your local Wills and Probate specialists based in Bredon, Gloucestershire, we understand how family dynamics can shift. Whether it’s births, deaths, marriages, or divorces, each event can significantly impact your will. It’s crucial to keep your will updated to reflect your current wishes and a codicil is a legal tool for this purpose.
When life changes happen it’s vitally important to ensure that your Will is updated to reflect your current wishes and circumstances. You can’t just stick a Post-it note on it or scribble something on a piece of paper and add it to the file because it won’t be legally valid. A Codicil is needed in this circumstance and often (but not always) it will mean you won’t have to completely re-write your will.
A codicil is essentially an amendment or addition to an existing will. In the UK, it is a legally recognised document that allows an individual, known as the testator, to make changes or additions to their will without the need to draft an entirely new will. It’s a flexible tool that can adjust, modify, or revoke parts of the will, or add new provisions.
What are the Key Characteristics of a Codicil?
- Legal Validity – Like a will, a codicil must adhere to specific legal requirements to be valid. It must be written, signed, and witnessed in accordance with the law. Failure to follow the correct procedure could render it invalid.
- Flexibility – Codicils are a convenient way to make minor changes or updates to a will.
- Integration with the Original Will – A codicil is not a standalone document; it is supplementary to the existing will and must be read in conjunction with it. It should not contradict your original will and inconsistencies here could result in legal challenges after your death if your intentions are deemed unclear.
Like drafting a will, the Codicil can be deemed invalid for several reasons:
- You must be deemed as having full mental capacity at the time of writing the Codicil.
- The Codicil must be executed and witnessed correctly.
- There can be no undue influence or suspicion of coercion.
- It must be unambiguous.
Why Would You Need a Codicil?
- Updating Personal Details: Changes in personal circumstances, like marriage, divorce, or the birth of a child, might necessitate updates to a will. A codicil can efficiently accommodate these changes.
- Property and Asset Changes: Acquiring or disposing of significant assets can alter how you wish to distribute your estate. A codicil allows for these adjustments.
- Changes in Executor or Beneficiaries: If you wish to change the executor of your will or modify the beneficiaries, a codicil can be used to make these amendments.
- Reflecting Changes in Relationships: Over time, relationships evolve. A codicil can update your will to reflect these changes, whether it’s including new family members or removing former ones.
- Clarifying or Correcting Errors: If there are ambiguities or mistakes in the original will, a codicil can provide clarity or corrections.
Things to consider when using a codicil
- Complexity: For substantial or numerous changes, drafting a new will might be more appropriate to avoid confusion. We can advise you before you embark on a rewrite.
- Legal Advice: It’s advisable to seek professional advice when drafting a codicil to ensure it’s legally sound and aligns with your intentions.
- Storage and Accessibility: A codicil should be stored safely and alongside the original will, ensuring executors are aware of its existence.
What does it cost to write a Codicil?
The fee for a Codicil can vary. Solicitors often charge an hourly fee so, if you have multiple changes this could run up a hefty bill quite quickly.
Some solicitors offer a fixed fee so you would know in advance what you will have to pay but it can still be expensive. Bees and Co. offer a Will Updating Service from just £50 per year for our existing Will customers. This service enables you to update your Will without any additional fees. You could also be offered a discounted rate if your will updates are considered too extensive and a rewrite is required. Existing customers can purchase the service here
A codicil serves as a practical and legally binding tool to modify an existing will, ensuring it remains up-to-date with the testator’s current wishes and circumstances. While it offers convenience and flexibility for minor changes, it’s crucial to approach its creation with careful consideration and obtain professional legal advice from a Wills and Probate specialist, such as Bees and Co. By understanding the purpose and proper use of a codicil, you can ensure your estate planning remains reflective of your wishes and life changes.
Contact us if you would like to discuss your will whether it’s to draft a brand new one or amend an existing will. Bees and co will guide you every step of the way.
