We define a codicil as a legal document that is used to modify an existing will without completely replacing it. This document allows you to make minor changes to your will, such as adding or removing beneficiaries, changing the personal representative, or updating asset distributions.
When is a Codicil Used?
Codicils are typically used for small changes that do not require a complete overhaul of your entire will. If you have made significant changes to your life, such as getting married or having children, it may be best to create an entirely new will instead of using a codicil.
In Alberta, the requirements for a legally valid codicil are the same as for a will.
- Formal will – made in writing, signed by the testator and two witnesses in the presence of each other.
- Holographic will – written entirely in the hand of the testator and signed.
- Military will – if the testator is a member of the Canadian Armed Forces, made in writing and signed without witnesses or other formalities.
When to Create a New Will Instead of Using a Codicil
While a codicil can be a useful tool for making minor changes to your will, there are times when it is better to create a new will instead of adding a codicil. Here are some situations where you may want to consider creating a new will instead of using a codicil:
1. You have made significant changes to your life
If you have married or entered a new relationship, had children, or acquired significant assets since you created your original will, it may be best to create a new will instead of using a codicil.
2. Your existing will is outdated
If your existing will refers to property you no longer own, or if you have acquired significant new property, it may be best to create a new will instead of using a codicil. This is especially true if your original will was created a long time ago and no longer reflects your current wishes.
3. You want to make significant changes
If you want to make major changes to your will, such as changing the personal representative or adding or removing beneficiaries, it may be best to create a new will instead of using a codicil.
Can I Have Multiple Codicils?
It is possible to have more than one codicil and to revoke a prior codicil in a subsequent codicil. However, this is not recommended due to the risk of misplacing one of those documents. A gap in the line of codicils may result in a testamentary direction or intention being omitted, and the testator’s wishes not followed. A better practice is to simply execute a new will in a form that accurately reflects the testator’s intentions.
Final Thoughts About Codicils
In conclusion, a codicil is a legal document that can be used to make minor changes to an existing will. If you want to make small changes to your will, a codicil may be the right option for you. However, if you have made significant changes to your life or want to make significant changes to your will, it may be best to create a new will instead of using a codicil.
How Kirk Montoute Dawson LLP Can Help You with Your Estate Planning
If you need assistance with planning for and implementing your end-of-life wishes, the lawyers at Kirk Montoute Dawson LLP offer legal guidance on a wide range of estate matters, including drafting wills, writing codicils, establishing trusts, powers of attorney, estate administration, and navigating complex probate processes. Contact us to discuss your estate planning matters.
Author: Gary Kirk