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How does a codicil help in estate planning?

On Behalf of | Apr 24, 2023 | Estate Planning |

When planning your estate in Texas, it is important to lay down as many details as you can as early as you can. Documenting your wishes ahead of time helps leave direction to your loved ones in the event of your own death.

However, making these plans earlier leaves you more room to change your mind. If you second guess your decisions or if a life event changes your priorities, you may not need to draft an entirely new will—a codicil may do.

Adding to or amending your wishes

A codicil acts a lot like a will, in that you can use it to specify your wishes, like detailing your executor or who gets what property of yours. It requires the same notarizing and witnessing that Texas wills require, and a codicil allows you to declare changes to the will’s documentation. If you no longer trust an executor, you may change who takes charge of those duties. If you come into more property, you may include it in your estate.

Knowing when to add and when to redraft

A codicil involving a minor change or two can be a great help to you and your family. If you draft a codicil using the same resources that helped draft your will, the language can remain uniform and clear. However, multiple codicils may lead to confusion among your loved ones—and possibly legal appeals. To make your wishes as understandable as possible, it is important to learn more about whether a codicil or new will suits your needs.