As professionals in estate planning in OKC at Ball Morse Lowe, PLLC, we often work with individuals who want to ensure that their estate plan reflects their current wishes. One important tool in updating or changing a will is called a codicil to a will. If you have a will but need to make a change without starting from scratch, a codicil could be a simple solution.
What is a Codicil to a Will?
A codicil to a will is a legal document that allows you to modify, add to, or revoke certain provisions of your existing will without creating a completely new one. Think of a codicil as an amendment to your original will. While your original will outlines how your assets should be distributed after your death, a codicil lets you adjust it as needed—whether you’re adding a beneficiary, changing an executor, or altering the distribution of assets.
The key thing to remember is that a codicil doesn’t replace your original will; instead, it works alongside it to clarify or update specific terms. However, for the codicil to be valid, it must follow the same legal requirements as the original will. This typically means it must be signed by you, the testator, in front of witnesses and executed according to state law.
If you need help with estate planning or a codicil, call our experienced team of Oklahoma City family law professionals today at 405.701.5355. Enjoy a free consultation!
Use of Codicil to a Will
A codicil can be a useful tool in several situations, particularly when you need to make minor adjustments to your will without the hassle of starting over. Below are a few examples of how a codicil might come into play:
1. Changing Beneficiaries
Life events like births, deaths, or changes in relationships can prompt you to adjust who will inherit your estate. If you want to add a new beneficiary, remove one, or alter the share that a beneficiary will receive, a codicil can be the perfect solution.
2. Appointing or Changing an Executor
Your executor is the person responsible for carrying out the instructions in your will. If your chosen executor can no longer fulfill their role, or if you simply want to name someone else, a codicil can update that provision without rewriting the entire document.
3. Adjusting Specific Bequests
If you wish to change how certain assets are distributed (for example, leaving a family heirloom to a different relative), a codicil can specify these changes. For example, you might want to add or remove personal property, like jewelry or a vehicle, from your will.
5. Changing Guardianship for Minor Children
If you have minor children and need to change their guardian in the event of your death, a codicil can update this important provision. Guardianship arrangements are especially important to clarify, so ensuring they reflect your current wishes is essential.
When Should You Use a Codicil?
While a codicil is a great tool for minor changes, it’s not always the best choice for every situation. Here are a few times when you should consider using a codicil, and we’ll follow with other times when it may be better to create a new will entirely.
1. When Changes Are Minor
A codicil is ideal when the changes you need to make to your will are small and straightforward. For example, if you’ve acquired new property that you want to give to a friend or if a family member’s circumstances have changed (perhaps a beneficiary is now in need of more financial support), a codicil can make these updates quickly and easily.
2. When You Want to Avoid Redoing Your Entire Will
If most of the provisions in your will are still valid, and you just need to adjust a few details, creating a codicil can save you time and effort. Rather than starting from scratch, a codicil allows you to retain the original will and only change the necessary parts.
3. When You Have One or Two Small Changes
If you need to make one or two simple changes (e.g., changing an executor or adding a specific bequest), a codicil is a great option. However, if you find yourself making numerous changes or rewriting large sections of your will, it may be more efficient to create a new will instead.
4. When You Don’t Want to Confuse Your Executors or Beneficiaries
A codicil can help clarify any confusion by making small, precise changes to your will. However, if you make too many changes using multiple codicils, it could become difficult for your executor or family members to keep track of your true intentions. In such cases, it may be clearer to create a new will that fully reflects your current wishes.
When Not to Use a Codicil
There are certain situations where a codicil might not be the best option:
1. When You’ve Made Major Changes
If you need to change the core elements of your will—such as the distribution of assets, the beneficiaries, or the overall structure of your estate plan—a new will is likely the better choice. A codicil is best for minor changes, not for overhauling your entire estate plan.
2. If There Are Several Codicils to Your Will
Too many codicils could cause confusion, especially if they conflict with each other or with the original will. If you find yourself adding multiple codicils over time, it may be a sign that it’s time to create a new will altogether to avoid any potential issues down the road.
At Ball Morse Lowe, PLLC, we understand how important it is to keep your estate plan up to date. If you have a will and are considering making changes, contact us to discuss whether a codicil is the right solution or if it’s time to create a new will to reflect your current wishes. We’re here to help guide you through the process and ensure your estate planning documents are clear, effective, and legally sound. Call us at 405.701.5355 for a free consultation!