Can I use a codicil to specify a change of beneficiaries?
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Can I use a codicil to specify a change of beneficiaries?
Currently my Will specifies each of my 3 children as beneficiaries. However, from my understanding, if 1 of my children were to predecease me, then my estate would distribute the 1/3 portion to the children of my deceased child to be divided equally. I want to change my Will to give the 1/3 portion to the spouse of my child vs. the children of my child. Would a codicil suffice?
Lastly, if I just wanted to make this change for only 1 of my children, do I need to even address my other 2 children on the codicil to clarify?
Asked on February 27, 2017 under Estate Planning, Texas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
1) Yes, you can make this change by codicil to the will, so long as the codicil meets all the requirements in terms of formalities (e.g. how signed, witnessed, etc.) to be enforceable as a will.
2) No, you don't need to address any beneficiaries where no changes are being made to what they or their descendents would receive.
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