Last Will & Testatment – Codicil & Amendment
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Codicils or Amendments to a Will or Trust
A codicil to a Last Will and Testament is a supplement or addition to the will. An amendment usually refers to changes or supplements that are added or deleted from a revocable living trust. Any estate plan created by either a single person or married couple should be looked at periodically for changes that need or should be made. There are many types of changes that could require a codicil or amendment to your existing estate plan. Family type changes, such as marriages, additions, deaths, change in relationships, disability, addictions, history of mismanagement of money, etc. These types of family concerns or changes should be brought to the attention of your estate planning attorney immediately in order to have a discussion on what could or should be altered in your existing estate plan and whether a codicil or amendment is needed.
There are many other types of changes that may justify a codicil or amendment such as state, federal and tax law changes that may affect either your will, trust, or other estate planning documents such as a medical power of attorney.
Recent changes in these types of laws have been:
Although you may not be aware of all the changes in the law, your existing estate planning attorney should periodically notify you of such changes, which they will enable you as a family to decide whether a codicil or amendment is needed in your own estate plan.
Please contact estate planning attorney, Kenneth Barney at [email protected]com or call him at 480-833-1113 for more information about a updating your existing estate plan documents.