Tweaking a will.

Gen.Zhukov

Hi,

I was just wondering if there's an easy way to change/update a will.

Lets say a standard will setup is done and dusted with the usual mix of beneficiaries- Family, friends, charities etc.

Then the testator (maker of will) finds out that the CEO/board members of his favourite charity are tossers and have been creaming huge salaries and claiming massive expenses etc. Or that their friend or family named in the will were actually shafting them for years and therefore wishes to cut them out. Or, wishes to add someone in for a small amount.

The question is- Does each change (even a minor one) in the will need a visit to solcr and resigning/witnesses signing even though it may be only a minor change ?

Is there any way to have a separate list kept updated by the will writer at their discretion and is legally acceptable ?

Pat Mustard

1.618 wrote: »

Is there any way to have a separate list kept updated by the will writer at their discretion and is legally acceptable ?

It is possible to make a codicil to a Will but there is generally little advantage to making one.

In reality, a solicitor is needed.

There will always be somebody who suggests that there must be some way of doing this yourself. That is because (a) paper does not refuse ink and a document resembling a valid Will can be prepared easily and (b) they don't know enough about the pitfalls to give you an accurate answer (look up the Dunning-Kruger effect)
https://en.m.wikipedia.org/wiki/Dunning–Kruger_effect

Peregrinus

It's as cheap to prepare a new, slightly revised will as it is to prepare a codicil to an existing will, and it makes for more simplicity when The Day Finally Comes. The witnessing requirements for a will and a codicil are exactly the same.

You can, though, draft a will which leaves your assets, or part of them, to a trustee, with discretion as to how to apply them. You do this if you want your assets to be used to address circumstances which are constantly changing, and if - I cannot overstress the importance of this - you really, really trust the intelligence, judgment and integrity of the person you have designated as trustee. And you can supplement this by leaving a letter for the trustee - which you can update or replace whenever you feel like it - which says, in effect "I know you have discretion under the Will to give x amount to a charity, but I would like you to think about giving it to the Miss Plaste Trust for Financially Embarrassed Banking Executives" (or ". . . I would like to to give it to anyone but the Miss Plaste Trust for Financially Embarrassed Banking Executives"). This isn't confined to charities; you could write a clause leaving a certain sum to your children, with the trustee to have discretion as to how it is divided between them, for example. And then write letters suggesting what would be an appropriate division, which you can update whenever you like.

That kind of will is non-standard, and will probably cost more to get drafted in the first place, but once it's in place you can have years of fun updating your letter of wishes in light of your ungrateful son's most recent slight, or whatever.

NUTLEY BOY

+1 emphatically the previous post.

I saw a case a few years ago where the testator tried amending an existing and valid will with the view to mind of "cutting" a particular party out of the will. They made a mess of it procedurally and the pre-amended version stood thus frustrating the intention.

Changing wills like this is always a dangerous exercise unless done with the specific guidance of a solicitor. A wise solicitor will almost invariably seek to prevail upon the client to simply write a new will that reflects completely the current wishes of the testator.

Generally, this is also a good reason to review a will periodically or after significantly altered circumstances like the death of an intended beneficiary where you would not want their inheritance going to their next of kin (e.g. the daughter in law from Hell ).