Amendment of Wills
Published on 2nd February, 2016 by Benjamin Li Yong Le
Should you amend your Will by a codicil or do a fresh Will to override and cancel the old one?
If you had done up your Will many years ago, you may need to update and amend your Will to take into account (1) new circumstances; (2) insert new beneficiaries; or (3) insert new assets to be given away.
How do you go about amending your Will?
A codicil is a document to officially amend an existing will and must be executed in accordance with the Wills Act and be witnessed by two persons.
A codicil does not revoke the old will but leaves the existing will intact except for the particular provisions that it changes.
We do not recommend clients to do a codicil since the price is about the same as executing a new Will.
There are no advantages to a codicil but many disadvantages including having to find both documents which have to be read together as one.
There is an increased risk of either document being misplaced i.e. what if the codicil is found but family members cannot find the original Will?
The simplest solution is to execute a new Will which contains a clause to cancel the old Will.
At L’Avocat Law, clients who have done their Wills with us previously only need to pay $100 to amend the old Will. It is as easy as pulling out the Microsoft Word copy of the old Will and amending directly and then re-printing.