Updated 12 June 2020.
What is a codicil to a will?
A codicil is a short, additional document used to make minor changes, amendments or alterations to an existing will. To be legally valid the codicil document must be signed and executed in front of witnesses in the same way as for a will. Once completed the codicil is kept with that will. More than one codicil may be made. Unless the change is minor and straightforward it is preferable to make a new will.
Together with the will document a codicil also being a testamentary document only operates when you die.
Codicil to an existing will or make a new will?
A codicil can be a cost-effective way to make a minor change to a will. such as substituting an executor. However if the will was made a long time ago, it may be best to make a new will altogether so there is no inconsistencies. Lawyers tend to prefer that a new will is made so as to avoid potential difficulties down the track with interpretation and the extra costs and delay that arise in resolving them. Seek professional advice.