Ensuring your Will is up to date and continues to reflect your wishes is an important aspect of estate planning. As personal circumstances change, it is likely the wishes set out in your Will may need to change to reflect the same.

Once a Will is signed, dated and witnessed, there are only two ways to update it: arranging a new Will or adding a Codicil. 

What is a Codicil?

A Codicil allows you to make changes to your existing Will, without the need to write a new one. It is a legal document, separate from your Will, and often used to make minor changes such as adding or changing the value of a legacy or appointing an additional executor.  

There is no limit to the number of codicils you can add to your Will, however, too many changes and too many codicils can often make it more complicated for your executors to deal your estate when you die.

Should you write a new Will or is a Codicil sufficient?

There are benefits to both options. Whether a Codicil is the right choice, depends on your individual circumstances and the changes you wish to make to your Will. 

A Codicil should only be considered if you wish to make a minor alteration or update to your current Will. Whereas a new Will should be put in place if you wish to make significant changes, or you are looking to make multiple changes to your existing Will.

Some examples of when a Codicil would be considered: -

• Adding an executor

• Altering the value of a monetary gift 

• Changing or adding a legal guardian for children under 18

A new Will would be suggested, but is not limited to, the following scenarios:

• You wish to change your residuary beneficiaries

• You wish to make multiple changes e.g. you wish to change your executors, your funeral wishes, and you wish to add a specific gift

• You already have a or multiple Codicils to your existing Will

• There have been major life changes since writing your current Will i.e. you have been through a divorce, a significant beneficiary has passed away or the birth of a child.

There is not a ‘one size fits all’ approach to deciding whether writing a new Will or making a Codicil if right for you, which is why it is best to discuss your individual circumstances with a solicitor before deciding which option is best.

The pros and cons of putting in place a Codicil

The main advantage of a Codicil is often convenience. On the face of it, a Codicil is often a cheaper and sometimes faster option compared to putting in place a new Will. 

A Codicil can be a good option in many circumstances, however there are disadvantages. When a Codicil is drafted, it is vital it is stored with the Will, as the Codicil and Will are separate documents and the act of making a Codicil republishes the Will incorporating the changes brought in by the Codicil. It is possible the Codicil may not be located by the executors when administering the estate and therefore, the updated wishes contained in the same are missed. Furthermore, when there are multiple Codicils put in place, the estate administration process can end up being overcomplicated and result in delays in the distribution of the estate.

A final point to consider in relation to Codicils is that when a Codicil is put in place, the contents of the existing Will remain evident. This can cause upset where a Codicil has revoked a gift or removed a beneficiary, as the beneficiary is now able to see the person who made the Will benefitted them in their original Will but had a change of mind. This is often the reason a new Will is the preferred option.

The pros and cons of putting in place a new Will

Deciding to put a new Will in place rather than a Codicil provides you with a ‘clean slate’. You can ensure that your wishes are clear and up to date, and often means your wishes are easier to follow and administer by your executor as there is one single document to consider.

Keeping your Will up to date

Regardless of whether you wish to put a new Will in place or make a Codicil, it is important to regularly review your Will. Life is unpredictable and can change unexpectedly and, or, suddenly. By ensuring your Will reflects your current wishes you can be sure your assets will be dealt with correctly and it gives not only you, but your loved ones, peace of mind.