A
client has recently had a baby and asked me how she goes about changing her
will.
A will ensures that the person
that winds up your estate distributes your assets to named beneficiaries after
you pass, according to your wishes.
If there are changed
circumstances such as the birth of a child or the death of a beneficiary, you
can write a new will or amend the existing will by supplementing your current will with a
codicil.
Codicil
A codicil is a
way to make minor changes to a will but is not appropriate for significant differences,
when a new will is better. Codicils must be signed by two witnesses, just like
a will.
Amend your will after a divorce.
The Wills Act provides that if you die within three months of the divorce, a legacy to your divorced spouse will fall away as though the spouse had passed away before you executed the will.
The Act gives
you three months after your divorce to change your will by removing your
ex-spouse as a beneficiary and appointing someone else in his place (in a new
will or codicil). If you do not, he will inherit, despite the divorce.
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