Do I need to make changes to my Will?

Everyone’s personal circumstances change, and it is inevitable that your life will not stay the same forever. From a legal perspective, it is essential to review your Will every 3-5 years or after a significant life event. These can include death, marriage, divorce or birth of a child or a change to the value of your estate. If you have questions or queries regarding amendments to your Will, you should obtain legal advice even for the minor amendments you wish to make. 

Most common changes in Wills: 

• You would like change who acts for you when you pass away or your executors have died. 
• You would like to leave additional cash legacies perhaps to a family member, friend or charity.
• You would like to increase or decrease the size of a gift or change who receives this legacy. 

Effecting these changes are simple and easy and can be made by making a new Will or by drafting a codicil to accompany you existing Will. 

Do I need to draft a New Will? 

Creating a new Will offers a chance to thoroughly review and update all the provisions in your existing Will, ensuring they reflect your current wishes. While it’s not necessary to update your Will every time an address changes, this process provides an opportunity to verify that all details are accurate.

If you are making significant changes to your Will, such as altering the distribution of your residuary estate or changing the beneficiaries, it is generally recommended to create a new Will rather than simply using a codicil.

Although a new Will may be more expensive than a codicil, depending on your specific circumstances and the extent of the changes, it can often be the better and more advisable option.

Would a codicil be appropriate for my circumstances? 

An alternative to creating a new Will is to use a Codicil, which is a separate document that makes changes to an existing Will. It does not replace the original Will but instead supplements it.

In practical terms, the formalities for signing a codicil are the same as for a Will. It must be signed and dated in the presence of two independent witnesses. As a result, the signing process for a codicil is not faster than that of a Will. If the formalities are not properly followed, the codicil could be invalidated, and only the original Will would remain as the valid testamentary document.

Codicils are typically recommended for minor, straightforward amendments, such as adding or removing an executor. Depending on your situation, it may be a less expensive and quicker way to make small changes. You can also create multiple codicils, but it’s important to ensure they are stored alongside the original Will.

However, codicils can lead to complications. For example, if they are not stored with the original Will and the executors are unaware of their existence upon your death, they may be overlooked. If this happens, it could cause problems during estate administration if the codicils are later found.

Having a Will with multiple codicils can also create confusion, and without professional guidance, there is a risk of unintended revocation or misinterpretation.

Additionally, when a Will is submitted for probate, it becomes a public document. Any codicils would also need to be submitted to the Probate Registry, making them public as well. This means that any changes made through the codicils could be exposed, potentially causing unnecessary distress for those involved.

Which option is the best for me? 

In general, it is recommended to create a new Will for any significant changes, as using a codicil—especially multiple codicils—can introduce potential risks and complications.

However, the best approach depends on your individual circumstances and the nature of the changes you wish to make. If you are considering updating your Will, it’s always a good idea to consult with a lawyer. They can assess your situation and provide guidance on whether a new Will or a codicil would be the most appropriate solution.