Estate Planning Last Will & Testament
Lead Counsel Rated Attorneys
Your last will and testament is a document that legally declares who you want to manage and distribute your estate following your death. This document clearly outlines your wishes regarding the disposition of your real and personal property upon your passing. You must sign and date this document and have it witnessed by two individuals not related to you.
A codicil is a document that makes modifications to an existing will. It is a way for you to alter or change one or more of your will's provisions without having to make a new one. The codicil must comply with the same legal and administrative formalities as your original will.
If a will leaves a child money, a trust is set up to protect the funds. This document explains the amount in the trust, when funds can be used and what should happen in an emergency, such as the child?s death. Some wills allow the child?s guardian or another individual to periodically withdraw a certain amount of funds.
This form is used as a tool to facilitate the legal transfer of your property or to make a gift to a minor without the necessity of establishing a legal trust for the minor child. Depending on the state in which you live, provisions of either the Uniform Gift to Minors Act or the Uniform Transfer to Minors Act will apply.
A codicil to a will lets you make a change to your existing will without having to redo the entire thing. You might want a codicil to add provisions regarding children. For example, you might want to add a child or children to your will who were born after the original creation of your will.
A codicil is a legal tool used to change specific portions of your Last Will and Testament while leaving the remainder of the document in its original form. By adding a spouse through the use of a codicil, unnecessary probate fees may be avoided, as well as the extra trouble and expense of re-writing the entire will.
Page 1 of 1