What are the options for changing your will?

On Behalf of | Apr 29, 2024 | Estate Planning |

Once you create a will, you can change it as few or as many times as you like. Most people will need to change theirs at least a few times. It could be because you want to include someone new, such as a new spouse or child. Or because you want to remove someone, for example, someone who has died or you have divorced. It’s also advisable to alter your will when you gain or lose significant assets so it always reflects your current situation.

There are two principal ways to alter a will.

Adding a codicil to the existing one

A codicil is an official document that is separate from the will. Its’ purpose is to modify the will. As you can imagine, that could get quite confusing if you make multiple codicils which is permitted.

Making a new one

Making an entirely new will helps keep things clear. This is the document you wish people to respect and act upon going forward. You must, however, ensure you destroy all copies of previous wills to avoid someone thinking or claiming that the old one they have represents your true wishes or even trying to pass it off as the most up-to-date one.

You should also include text in the new will to say that it supersedes any previous wills, just in case a copy is lurking somewhere and to make it clear that you have not just forgotten you already had a will.

Your will is such an important document that it is safest to take legal advice any time you want to make a revision to ensure it is properly done.