As your circumstances change you may wish to make alterations to your Will.
The advantage of doing this by writing a codicil is that it avoids the need to write a new Will and can be a cheaper option. The downside is there is a risk that your codicil will be missed by your executors unless it’s stored with your Will - it cannot be physically attached. For this reason, codicils are preferred for minor additions or amendments, rather than major changes, where a new Will is more appropriate.
Reasons to add a codicil
- If a named executor has died, and you wish to appoint a new executor
- You want to make small alterations to your wishes and assets; for example, because your financial circumstances have changed
- You wish to change your will following the birth of children or grandchildren to reflect their inheritance
- Your executors will need to be made aware that the codicil exists
- Your codicil must be signed and witnessed by two people in the same way as your Will - you don’t need to use the same witnesses for both documents
- A codicil can be prepared by a different solicitor to that who prepared the Will, although it may be more practical and cost-effective to use the same Firm
- It is considered bad legal practice to alter details pertaining to your main assets, such as property
Our fee to prepare a Codicil is £150 + vat + ID AML check (£36) per person per Will
Our fee to prepare an individual Will is £195 + vat + ID AML check (£36)
Our fee to prepare a Mirror Will is £370 + vat + ID AML checks (£72)