Codicils in NSW | When Should You UpdateYour Will?

Codicils – What they are and when to use one

Wills and Estates

What is a codicil?

A codicil is a legal document which amends the provisions of an existing will without making a new will. It may be appropriate where a testator wishes to make minor changes to an existing will.

What changes can be made with a codicil?

A codicil may be used to make minor changes to a will including:

Updating executors or trustees
Changing a beneficiary’s name (e.g. following marriage or divorce)
Adding specific gifts to beneficiaries (e.g. cars, jewellery, art, antiques)
Adding or updating funeral or burial wishes.

How do I make a codicil?

It is important that a codicil is prepared by your legal practitioner. To ensure it is legally binding a codicil must:

Reference the existing will by date.
Clearly state the will provisions being amended.
Ensure that the original will is not revoked.
Be correctly signed and witnessed.
Be stored with the original will.

When is a codicil not appropriate?

A new will should be made where there are significant changes required including:

Changes to the asset distribution of your estate.
Changes to residuary beneficiaries.
Adding testamentary trusts.

Frequently Asked Questions

Do I need a lawyer to prepare a codicil?

While it is possible to prepare a codicil yourself, mistakes can invalidate the document or create uncertainty about your intentions. A solicitor can ensure the codicil is properly drafted, correctly executed and works with your existing will rather than creating inconsistencies or unintended consequences.
Does a codicil replace my existing will?
How many codicils can I make?

There is no legal limit on the number of codicils you can make. However, having multiple codicils can make your estate planning more complicated and increase the risk of confusion or disputes. Where several changes are required over time, preparing a new will is often the clearer and safer option.
Does a codicil have to be witnessed?
Can a codicil be challenged?
What happens if my codicil conflicts with my will?
Should I make a codicil or a new will?

That depends on the extent of the changes you wish to make. A codicil is generally suitable for minor amendments, such as changing an executor or making a specific gift. If you are making substantial changes to your estate plan, changing beneficiaries or updating multiple provisions, preparing a new will is usually the better option.
Does marriage or divorce affect my codicil?

Yes. Marriage and divorce can affect the operation of both your will and any codicils. Depending on your circumstances, certain provisions may be revoked by law. If your personal circumstances change, you should have your estate planning documents reviewed as soon as possible.
Can I revoke a codicil?

Yes. A codicil can generally be revoked by preparing another codicil, making a new will that revokes previous testamentary documents, or in some circumstances by intentionally destroying the original. Legal advice should be obtained to ensure your wishes are properly carried out.
Should I tell my executor about my codicil?

This article is general in nature and does not constitute legal advice. How the law applies to
wills, codicils and testamentary documents is a complex area.

If you need to update your estate planning documents, Fioro Legal is well positioned to assist. Contact us at info@fiorolegal.com.au and on 0481 848 450.

Mobile: 0481 848 450

Email: info@fiorolegal.com.au

Web: www.fiorolegal.com.au