Sunday, February 5, 2012

What Is A Codicil?

Codicil is a fancy word for an amendment to your will.  It is useful when you have minor edits to make to an existing will.  Examples would include changing the name of your personal representative or guardian for your child or hanging the dollar amount of a gift to charity.  If you have broader, more structural changes, a codicil is probably not a good idea.  This would mean if you need to build in a trust for minor children or to plan for federal estate taxes.

If changes to your will are needed, consult with an attorney in your state.  It is not recommended to simply cross items out and write them in.  Here in Wisconsin a codicil needs to be executed, or signed, in the same manner as a will -- signed and dated in the presence of two witnesses who also sign.

Photo credit: - free image

Remember - a blog is not legal advice, it is just a blog post.  Thanks for reading.

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