Codicil Lawyers Change Your Last Will & Testament
Will Changes: Codicils
If you have decided to make a change to your last will and testament, then you may require a codicil lawyer. The word “codicil” Comes from the Latin word for codex. Legally, other than drafting a new last will and Testament, you will require a codicil to make a change to your will. The Codicil lawyers at Kahane Law Office in Calgary are available to help.
What is a Codicil?
A codicil is a legal document. It is a stand a lone document that is separate from your will. It is this document that is used to modify or change a will. Without a codicil, it would be necessary to change your entire will to make even minor changes. They are very specific as to which will that are making a change to.
When Should A Will be Reviewed?
There is no set time frame for when a will should be reviewed. For most people rereading their will is something they should do every 2-5 years. This way they will know if there is something that they need to change in their last will and testament. People can do this on their own for with a will review lawyer. A will review lawyer can check for will validity also. Any Changes Can then be made with a codicil. Changing a will with a codicil is not only done if you want to give somebody more or somebody less in your will. A codicil lawyer can help to review your will with you and then make changes to it.
When Do You Need to Change Your Will?
You will need a codicil to change your will if you want to change a beneficiary or an executor. There are times when changing your will with a codicil will be more important, even necessary. Your will must reflect your estate plan in Alberta. The following are examples of when your will should be changed.
On the birth of a child:
You will need a codicil to add the child or children as beneficiaries. If you do not have trust provisions for minor children,these should also be added.
On the birth of a grandchild:
Many people wish to add grandchildren to their wills. It is also a good idea to have a trust provision for minors. You may also wish to add guardianship provisions in case you ever become the child’s legal guardian.
You get married:
Wills often need to be re-done on marriage. Once you get married a codicil may be used but there may be so many changes, that a new will be easier. In some places, marriage will void your will. In this case a codicil may not work. Failing to include a spouse, legal or common law, can lead to your will be challenged in court.
You get divorced:
In some places, such as Alberta, a divorce will invalidate a will. You will need to draft a new will. Many people will want to change their will after divorce anyway, but a codicil may not be effective in these situations.
Death of someone named in your will:
When someone named in your will as executor, personal representative, beneficiary or trustee passes away (or becomes to old, infirm or distant to act) then you will want a codicil lawyer to make a change to your will for you.
Major change in financial situations:
If you have a major change in your financial situation you may want to change your will. This may be done for tax purposes, to give to a charity or to redistribute your wealth differently.
When Do I Need A New Will?
Codicils are effective for making smaller changes to wills. Using a codicil to change many parts of a will can become confusing and create uncertainty in the will. Never make a physical change on your actual, original will document itself. A codicil lawyer can review your options with you as to the best choice for making changes.