People benefit from having a will, no matter their age. It is a useful document to have around in case of anything unexpected. However, as the years pass, you may also change or add more to your estate. Family and friends come and go and your priorities change.
When your priorities change, so should your will. That way you convey your wishes accurately in the event of your death. One way of altering or adding to your will is with a codicil.
What is a codicil?
A codicil is an addendum to your will that lets you change, revise or even negate pieces of your will. This is a useful tool when you want to make a slight change or adjustment without drafting a new will.
How do you create a codicil?
Much like the will itself, you need to sign and witness the codicil according to Ohio law. It is important to use clear language to avoid confusion. A codicil frequently includes identifying information like your name, the date and that you are of sound mind.
Once you establish that, you can explain what you wish to change and what to keep the same. This may include changing your executor, updating your beneficiaries or adding details about your inheritance.
When drafting a codicil, it is important to communicate with your family about the changes. You may want to lean on your resources to make sure that the language you use does not cause confusion when your family refers to it and your will in the future.
