Codicil

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DEFINITION of 'Codicil'

An addendum of any kind to a will. Codicils can alter, change, add to or subtract from the provisions in the will. They can be used to keep a will and testament current and up to date.

INVESTOPEDIA EXPLAINS'Codicil'

Codicils must be created by the original creator of the will. They are separate documents in and of themselves and can effect either minor or major changes in the will. All codicils must meet the same legal administrative requirements as the original will and testament, and they must each affirm that the original will is valid except for the changes outlined inside.

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RELATED FAQS
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    Estate planning is an integral component of comprehensive financial planning, as it allows individuals and couples to maintain ... Read Full Answer >>
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