Keeping your documents updated with changes in your life is essential to estate planning in Nevada. One of the ways you can ensure that your documents meet your current needs is to develop a codicil to your will. Writing an addendum is a quick and easy way to change your choice without completely rewriting the entire document.
What is a codicil?
A codicil is a supplement of any kind to your will. They are a valuable tool of estate planning in that they can alter, change, add to or subtract from provisions in a will. Generally, people use codicils instead of writing an entirely new document if the changes are minor. For example, you may want to change or add beneficiaries if you remarried after creating your original will.
The codicil to your original will is a separate legal document. It must be created in the same way, meaning it must meet the exact legal administrative requirements as the original document, meaning that you must have people act as witnesses to the changes you made and your signing of the paper. In addition, the codicil must state that your original will remains valid except for the changes outlined in the addendum.
Why make changes to your will?
A last will and testament are not written in stone. It would be best if you made changes to a will to reflect your current wishes and avoid potential conflicts after your passing. If you draft a codicil, make sure you keep the original will and the addendum together so that the codicil’s provisions are readily apparent when the time comes.
If your changes become extensive, writing an entirely new will may be a better way to include all necessary change. Writing a new one from scratch is preferable when changing multiple provisions in the document.