A Codicil is a supplement to the Last Will and Testament in which any changes to the Will are specified.
Testator: person who has made the Will and now wishes to make some changes to it
Beneficiary: the person who receives the assets of the Testator
Executor: person who will in charge of paying your debts and distributing your assets
When to use this Codicil form?
Any person over 18 years of age and of sound mind can make a Will and its Codicils. It is very important that you make your Will yourself or have someone you trust help and explain each part to you. A Codicil is usually useful after the following events:
3. Birth of child
4. Death of a person named in the Will
Important considerations for the Testator
Before you begin completing this form, it is important to know what changes you wish to bring to the Will. It would also be convenient to have a copy of the Will to make this Codicil.
Specifications of this Codicil form
Through this Codicil form, you can make certain changes to the Will such as: (1) give new bequests or replace bequests made in the Will, (2) revoke bequests made in the Will, (3) name new Guardians for minor children or replace Guardians named in the Will and (4) name new Executors or replace Executors named in the Will.
1. Give new bequests or replace bequests made in the Will
In the Will, you may have chosen to give specific items or an amount of money as gifts to others. These gifts are called “Specific Bequests” and are distributed before the rest of the assets. Some examples of Specific Bequests could be gifting your dining room table to your sister or $5000 to a charity. In this Codicil, you can make new such specific bequests or replace bequests made in the Will with new ones.
2. Revoke bequests made in the Will
This option allows you to revoke (or cancel) a specific bequest made in the Will.
3. Name new Guardians for minor children or replace Guardians named in the Will
In this Will, you can also nominate up to 2 new guardians for your minor children. You can also replace Guardians named in the Will.
4. Name new Executors or replace Executors named in the Will
In the Will, you had the option of selecting the number of people who will be in charge of executing your Will, paying your debts and distributing the assets as you have specified (called “Executors”). In this Codicil, you may name new Executors or replace Executors chosen in the Will.
Once completed, you have to sign this Codicil form and have it witnessed by 2 people.
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