Before telling you Will and Codicil difference, let me explain the definition of both the meaning in simple terms.
A Will is an important piece of document that ensures that the property is transferred to the right successor after the owner’s death. Complications arise when a person dies without leaving a Will. Legally speaking "the legal declaration of the intention of the testator, with respect to his property, which he desires to be carried into effect after his death."
Hire a lawyer from NoBroker to register your Will!Codicil, on the other hand, is another legal instrument which is registered in relation to the Will, explaining, altering or adding to its disposition and it is deemed to be a part of the Will.
Now, let us understand the difference between Will and Codicil India.
So, the difference between Will and Codicil is very simple. A Will is a testament that outlines the distribution details of one’s possession such as investments, and other interests after the owner’s death. A Codicil is required when you need to make changes and update the Will. So, if a simple change in a Will is made then you will require the Codicil.
A codicil can be used to make changes or additions including:
Adding an additional beneficiary, such as a new grandchild;
Adding a newly acquired property, for example, a new vacation property;
Removing a property that was sold;
Removing the name of someone that predeceased you; or,
Changing the executor.
Codicil therefore can be used for making small or simple changes in the Will which state’s the meaning of an individual’s last Will and testament.
This is the Will and Codicil difference.
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Difference between Will and Codicil
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2022-10-20T10:59:29+00:00 2022-10-20T10:59:30+00:00Comment
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