When to use Codicil to Will
Most estate planning resources are meant to serve as living documents. Practically speaking, this means that an individual or couple can update these documents as often as they need to. Sometimes, estate planning preferences change. Other times, major life events such as the birth or death of family members, a financial windfall or the sale of a significant asset compel individuals and couples to change the terms of their wills. If you need to update an existing will, you do not necessarily need to start constructing a will from scratch. As long as you do not need to completely overhaul the structure of your will, you can simply fill out a codicil to will form and take appropriate measures to ensure that it is filed alongside your existing estate planning documentation.
A codicil is used to legally update an existing will so that individuals and couples are not required to start from scratch every time they need to make changes to their estate planning documentation. You may use this customizable template to delete, add to or otherwise alter the terms of your existing will. For example, you may name new beneficiaries and/or delete the names of those who will no longer benefit from the terms of your will. You may choose to make provisions for new pets, name an executor for your digital assets, direct certain property to be given to specific charities, etc. Simply take care to ensure that you obtain the necessary witness signatures as noted on the document and to file this paperwork where it will not be overlooked. An addendum is only effective if the executor of your estate knows that it exists.
Will Amendment Form
Amendment to Last Will and Testament
Codicil to Last Will and Testament