Amendments to Existing Wills
Your circumstances will inevitably change at certain points in your life, and you should ensure that your Will is amended in order to reflect those changes.
It is wise to keep an existing Will under regular review because your circumstances and wishes may change. For example:
- You may now be separated or divorced.
- You may be getting married (marriage automatically cancels any existing Will).
- You may now have children who had not been born when your existing Will was drawn, or your children may now be grown up with children of their own.
- You may now be a property owner with the consequence that you have a significant asset to dispose of upon your death.
- You may unfortunately find yourself in the position whereby an executor or named beneficiary in your existing Will has died.
- There may have been a change in law or taxation that affects you.
You cannot amend an existing Will after it’s been signed and witnessed. The only way you can change an existing Will is by making an official alteration called a Codicil, or by making an entirely new Will.
A Codicil is a legal document that refers to your existing Will and sets out the alterations that you want to make to it. It is important to note that a Codicil does not replace your existing Will. Instead, a Codicil operates alongside it. A Codicil needs to be signed and witnessed in the same way as a Will in order to be valid and there’s no limit on how many Codicils you can add to an existing Will.
Where you wish to make major and very substantial changes to a Will we would recommend that you make a new Will. A new Will ensures that an existing Will and all previous Wills (along with any Codicils) are officially revoked.
We generally recommend that a Will is reviewed every 5 to 10 years, even where there are no particular changes of circumstance.
What will be the cost of amending my existing Will?
Wills & Codicils:
|Codicil (an addendum document to an existing Will)||£150.00||£30.00||£180.00|
|Standard Simple will||£295.00||£59.00||£354.00|
|Will with Life Interest Trust, Discretionary Trust, or Disability Trust||£595.00||£119.00||£714.00|
|Urgent Will (from)||£450.00||£90.00||£540.00|
#HIGHLIGHT#Double (Mirror) Wills
|Standard Simple wills (mirror)||£485.00||£97.00||£582.00|
|Mirror Wills with Life Interest Trusts, Discretionary Trusts, or Disability Trusts||£795.00||£159.00||£954.00|
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