How and When do you update a Will?
If you have a Last Will and Testament (or are thinking about drafting one), then you may be wondering when and how you would go about updating it. People generally think about getting a Will during the biggest changes of their lives. Typically, one would assume that the very first Last Will and Testament a person creates is going to need updates down the road as their life changes. People marry, divorce, have multiple children, etc. and all of those type of changes in a person’s life need to be reflected in a Last Will and Testament. How does one update their Will when necessary?
There are two options to update your Will. One way is to create an entirely brand new Last Will and Testament. The second option is to create a Codicil (an amendment) to your Last Will and Testament. A Codicil would have to be dated, signed and attached to the Will so your Executor knows when the Codicil was created. A Codicil would have to fit seamlessly with the other sections of your Will and avoid any conflicting language. Although some may view a Codicil to be satisfactory for small changes (i.e. changing the amount of money you want to give to a specific person or to a charity), it is generally much better to create a new Last Will and Testament so there is absolutely no confusion or conflict between a Will and a Codicil. This is particularly true if you wish to make multiple changes to your Will.
The good news is that through the use of online Will software, you can create a new Will with the changes you want to it without having to pay for a brand-new Will through a lawyer. Bottom line: Avoid confusion by editing your Will through Will software.