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What Is a Codicil? – Ramsey

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A codicil, you ask? We know. It sounds like some kind of prescription drug. But no, it won’t help you with your arthritis. Codicils actually have to do with wills. If that’s why you’re asking What is a codicil? then you’re in the right place.

What Is a Codicil to a Will?

A codicil is a legal document that makes a small change to your will. When we used to write wills out by hand, codicils would save you time and hassle so you didn’t have to create a whole new will every time your life changed.

These days we can write up a will on a computer in no time, so making changes isn’t so hard. But while codicils aren’t used as often as they once were, they can still be a great tool to keep your will current. Think of a codicil as a software update that fixes a few glitches in the original rollout.

And whatever you need to do to get the peace of mind of knowing your will is totally up to date is worth it.

But don’t worry—just asking what a codicil is means you’re way ahead of the game. Great job! So, here’s everything you need to know . . .

 

When to Use a Codicil for a Will

If you want to make just one or two minor changes to your will, but you don’t want to totally redo it . . .

Enter the codicil.

For example, have you changed your mind about having Cousin Ed take care of your beloved dog? Or do you have a new grandchild you’d like to add to your will? Maybe you’ve thought twice about giving half your assets to your grandson, who’s recently decided to quit his job and take up pot. (Yeah, you probably don’t want to fund that.)

You guessed it. It’s codicil time!

Gotten married? There’s a codicil for that. Had your tenth child? Okay, that’s a lot of kids, but there’s a codicil for that too!

But if your life has drastically changed—you have new property, more money, or multiple new people in your life—it’s better to just go ahead and make a new will.

 

Changes You Can Make to a Will Using a Codicil

The changes you make with a codicil should be minor. If you have a lot of changes, you’ll want to just go ahead and rewrite your will.

These are some of the changes you can make to your will using a codicil:

 

How to Make a Codicil

Remember: A codicil is a legal document. They’re created in the same way you made your original will. You can write one yourself or work with a lawyer. Keep in mind you still need two witnesses to sign it. But they don’t have to be the same people who signed your will.

Here are some tips to make sure your codicil is bulletproof and crystal clear. You don’t want your executor scratching their head, wondering, What does this mean?

  • Include your full name and address so there’s no confusion whether the codicil belongs to you.
  • Reference the date of your current will in your codicil to link them together. This’ll help clarify things if you end up writing a new will later. The judge will know this codicil only applies to your old will.
  • Writing a statement of sound mind (“I am under no pressure from anyone to change my will”) helps make your codicil more airtight.
  • Keep your new codicil in the same physical location as your will.
  • Clearly write out all the changes you want to make and be specific. Use full legal names (Don’t just say Rob, say Robert Thomas Smith), write exact numbers and percentages, and describe any property. Also state that everything else not mentioned in the codicil remains unchanged and valid.
  • Let your family and friends know. Tell them you’ve updated your will and what the changes are.

 

Does a Codicil Need to Be Notarized?

Good news! A codicil doesn’t have to be notarized (unless you live in the great state of Louisiana). You do have to grab two randos off the street to witness it though. Just kidding—randos not recommended! Ask two trusted relations or friends to witness your codicil like we mentioned above.

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If you want to go the extra mile, you can attach a self-proving affidavit to the codicil so that your witnesses don’t have to appear in probate court to testify that your codicil is real.

 

Codicil Pitfalls

Finally, codicils come with a few things that can come back to bite you.

  • There’s nothing akshually legally wrong with having a couple codicils. But be careful! Too many can make your will overly complicated. A judge can even decide your estate is unclear and throw your will out. Not good. The solution? Just limit codicils to minor changes. If the updates start to stack up and you have more than two codicils, it’s better to make a new will.
  • If you lose your will, don’t make a codicil to “fix” it. Just make a new will.
  • Double-check your codicil against your will to make sure it isn’t contradicting anything there.
  • A codicil isn’t you taking a red Sharpie and editing your hard-copy will. (Sorry. Nice try!) These kinds of on-the-fly changes can actually put your will at risk of being invalidated. Don’t try to cut corners with something as important as your end-of-life wishes.

 

New Will or Codicil?

Okay, so that’s a lot of information about codicils. But they’re actually pretty straightforward. They can come in handy if you just need to tweak a few small things in your will.

So, every once in a while, look at your life and see if anything has changed that would affect your will. If it’s small, like you want to change your executor, then you could use a codicil!

But if your will needs major changes, it’s best to just make a new will. You can create one today with RamseyTrusted provider Mama Bear Legal Forms. It only takes about 20 minutes!

 

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The post What Is a Codicil? – Ramsey appeared first on Budget Busters Hub.


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