One of the most popular parts of an estate plan in Minnesota is a Last Will & Testament. Usually referred to simply as a Will, this is the first document that most people turn to when they are considering how they want to divide their property and who will take care of their children should they die prematurely.
Getting married, or having kids, are two of the most common reasons people decide to execute a Will for the first time. Since many Wills are established when people are younger, there is often the need to make adjustments later in life. Rather than drawing up a whole new Will, a Codicil may be the best answer. If you are planning to change your Will, then our lawyers can help determine the most efficient way to do so.
A Codicil, in Minnesota, gives someone the ability to modify an existing Will without having to write a new one. Instead of starting over, a codicil allows you to make minor modifications without changing the entire framework of your existing Will. With a codicil, you can explain, add to, subtract from, qualify, alter, revoke, or otherwise modify aspects of a Will you have previously established.
A Codicil is typically used to make relatively minor changes to a Will. If you are thinking about making major changes, then rewriting the Will is often the better route to take. Some common reasons people use a codicil are:
- Changing your personal representative;
- Changing specific facts and figures
A Codicil can also be used when a person’s competence is in doubt. Rather than drafting a whole new Will, a codicil can be used in this situation to make minor adjustments. If it is later revealed that the person was indeed mentally incompetent, then the codicil will be invalidated while the rest of the Will remains valid.
Although Codicils are a simpler option of modifying a Will, they should not be treated lightly. It is typically recommended only to use one or two codicils on a given Will. Two many Codicils may cause extra confusion or contradiction during the estate settlement.
In order to establish a codicil, it is advisable to seek out a qualified estate planning attorney. A codicil must meet the same Minnesota statutes as a Will. The best way to make sure a codicil is valid is to have a professional do it.
If you are considering making a modification to your Will in the state of Minnesota, our lawyers are here to help you through the process. Our attorneys have over 15 years of experience with Codicils, and other areas of estate planning. Contact the Brown Law Offices, P.A. today for a free consultation. Call 763-323-6555 to speak with a lawyer free of charge.