Codicils - the cheap upgrade option?
A Codicil is a written document that adds additional comment or clarification to
your will, or amends an existing clause in your will, or deletes a clause in your
will, or a mixture of all three options.
Like your Will, a codicil has to be in writing, signed, dated, witnessed etc.
Historically codicils were created because they were fairly easy to create (when
compared to redrafting a will), and as their production avoided the need for the
whole Will to be redrafted - they were the cheaper option. Today, when word-processors
store the original Will and then regenerate your will with the required amendments
included it is usually better to redraft your Will.
Codicils are still valid and relevant today - in certain circumstances. But they
do have risks. As a single piece of paper they can easily be lost, whereas a will
is more easily recognised as a legal document. Also the wording needs to be precise;
it is easy to unwittingly contradict another clause within the will - and thus create
additional problems. As a result codicils can be comparatively expensive (when
compared to the price for a new Will, and - too often - more trouble than they
are worth. A better solution is usually to make a new will.
Convenient Wills can create codicils for you, if you request us to do so.