The Importance of Updating your Will
A Codicil is a crucial tool for individuals who have already created a Will and wish to make changes to it. Life circumstances can change over time, and these changes may impact an individual's wishes regarding the distribution of their assets. Failing to address necessary Amendments to a Will can lead to unintended consequences and potential disputes among family members. By utilising a Codicil, individuals can ensure that their Will accurately reflects their current wishes and avoids any confusion or ambiguity.
When to Consider A Codicil To Your Will
We would recommend that you review and update your Will regularly, at least every few years or whenever significant life events occur. Some examples of events that may necessitate changes to your will include:
- Change of names
- Divorce or dissolution of a civil partnership.
- Birth or adoption of a child or grandchild.
- Changes in assets, such as buying or selling property.
- Alterations to legacies
- Changes in executor(s).
The Legal Requirements for Codicils in Scotland
Codicils must comply with the same legal requirements for formal and essential validity as a Will. These requirements include:
• Capacity: The individual making the Codicil must have legal capacity, meaning they must be of sound mind and understand the implications of their actions.
• Age: An individual must be at least 12 years old to create a Codicil/Will.
• Formalities: The Codicil must be executed in the same way as a Will, with the presence of a witnesses who are not beneficiaries or related to beneficiaries.
• Revocation: The Codicil must clearly state its intention to revoke certain provisions of the existing Will or any previous codicils.
The importance of Using a Solicitor to Update a Will
When it comes to updating your Will or creating a Codicil, working with an experienced Wills and Estates Solicitor is highly recommended to provide informed advice, guide you through the process, and ensure that all legal requirements are met. They will help you draft a Codicil accurately, reflecting your current wishes and avoiding any potential legal inaccuracies.
Contact Kee Solicitors to Update Your Will Today, Glasgow and Aberdeen, Scotland
If you are in Glasgow, Aberdeen, or anywhere else across Scotland and are thinking of Updating a Will, it is important to seek advice from one of our qualified Wills Solicitors. We can provide you with professional advice on the best way to structure your estate and ensure that your Will is legally competent. Get the best outcome for you and your family - Call us on 0141 478 9090 for our Glasgow office, 01224 002 556 for our Aberdeen office or click here to make a free online enquiry