What is a Codicil?
Given that your life circumstances change frequently, it is important that your Will is updated accordingly, to make sure that it is current. Generally, there are 2 ways to reflect new life circumstances for your Will: either you create a new Will or you can amend your existing Will. A ‘Codicil’ is the term used for amending an existing Will. A Codicil is a separate legal document which needs to be signed by you, and your signature needs to be witnessed by others.
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What types of changes can a Codicil make?
- Change a guardian
- Change an executor
- Add or remove beneficiaries
- Increase cash legacies
How does a Codicil work?
A Codicil should be signed by the person who created the Will and it also needs to be witnessed by others.
Who needs to prepare a Codicil?
- You want to revisit your existing Will
- You want to change some of your beneficiaries
- You want to amend the executors of your Wil.
How long does it take to create a Codicil?
Creating a Codicil is an involved journey, which involves our Will Lawyers reviewing your original Will, getting to know your new life circumstances and preparing the Codicil accordingly. Preparing simple Codicils can therefore be done relatively quickly, however more complicated changes can take longer. If you have urgent deadlines, we can often accommodate them, so please let our Will Lawyers know at the outset.
How much does a Codicil Cost?
Wherever possible, we like to keep our legal fees fixed for Estate Planning services. Our legal fees for preparing standard Codicils are £149.00, however if the Codicil is more complicated, our fees may vary. To receive confirmation of your quote from our Will Lawyers, please contact us and we’ll be happy to assist.
When can I Start Preparing a Codicil?
We have capacity to begin preparing Codicils straightaway, however updating your Will is only one component of effective Estate Planning. To discreetly discuss your circumstances with one of our Will Lawyers, leave your contact details on this webpage and one of our Will Lawyers shall be in touch with you by the next Business Day.