How Much Does a Codicil Cost?

A codicil is a legal document used to update a will. It can vary in cost, depending on how you create it. Writing one yourself is often free with paper or online tools. Online platforms could offer templates or services under $50. Hiring an attorney usually costs a few hundred dollars, based on the complexity and location. A financial advisor can also review your financial situation to help determine which updates to include in the codicil for better estate planning.

What Is a Codicil?

A codicil serves as a formal amendment to an existing will, allowing for specific updates without the need to draft a new will entirely. This document is often used when a person wants to make minor changes, such as updating an executor, adjusting beneficiary details or adding newly acquired assets. Codicils maintain the original will’s structure while making newer instructions take precedence over any conflicting provisions in the original document.

To be legally binding in most jurisdictions, a codicil generally requires the same formalities as a will, including the signature of the person making it, known as the testator, in the presence of at least two witnesses who are unbiased, meaning they are not named in the will. A codicil should be kept with the original will and shared with the executor to avoid potential conflicts during probate.

Keep in mind that although codicils offer convenience for minor updates, substantial changes to a will might still call for drafting a new document to avoid ambiguity.

How Much Does a Codicil Cost?

Like many legal and financial services, the cost of creating a codicil can vary significantly depending on the approach.

For those looking to make minor updates without legal assistance, websites like Rocket Lawyer and Law Depot offer free resources to draft a codicil independently, either by downloading a template or filling out a digital form.

Alternatively, some may prefer the assistance of an estate planning attorney, particularly if the codicil involves complex changes or if there’s a desire for additional legal review. Rates for this type of professional service can vary from $200 to $500 per hour, depending on the attorney’s experience and location, as well as the complexity of the requested changes.

Hiring an attorney can offer peace of mind, as they can help ensure that the codicil meets local legal requirements and integrates with the existing will. However, hiring an attorney is generally more costly than the online options, making it a more common choice for those with substantial estates or complex changes.

How to Change a Will Using a Codicil

Creating a codicil involves several steps to make it legally binding and consistent with the original will. Here are five to help you get started:

Review the will. Begin by carefully reading the original will to identify specific sections that need updating. This helps ensure that any modifications in the codicil align properly.
Draft the codicil. Use a clear, concise format to state each change. Specify the sections and language being modified to avoid ambiguity. Include language affirming that all other provisions of the will remain unchanged.
Follow applicable legal requirements. Most jurisdictions require that a codicil is signed by the testator (the person making the changes) and witnessed by at least two individuals who aren’t beneficiaries. Louisiana is the only state where notarization is required.
Attach the codicil to the will. Once completed, securely attach the codicil to the original will, keeping both documents together in a safe location.
Notify the executor. Inform the executor about the codicil’s existence and location. This can help prevent any confusion during the probate process.

Creating a Codicil vs. Creating a New Will

For those making substantial changes, drafting a new will as opposed to a codicil can simplify estate documents. A new will automatically revokes previous versions, eliminating any confusion that multiple codicils could create. In general, attorneys recommend creating a new will when changes involve significant alterations to asset distribution or multiple beneficiaries.

While creating a new will involves more time and higher costs than a codicil, it provides a fresh, clear record that is often easier for executors and beneficiaries to understand and implement. On average, creating a new will with an attorney can cost at least $300 or more, depending on complexity and location.

Codicils, by comparison, are generally less expensive, especially when the changes are straightforward, which can make them an efficient choice for minor amendments. However, when reworking multiple aspects of an estate plan, the benefits of starting fresh with a new will may outweigh the lower cost of a codicil.

Bottom Line

A woman reviewing changes made to her estate plan.

A codicil provides a practical way to make changes to an existing will, with options ranging from free online templates to more tailored assistance from an attorney. Costs vary widely—online forms are free or fairly inexpensive, while you’ll pay more substantial fees for professional services. While a codicil can be a straightforward solution for some amendments, for those making more significant changes, drafting a new will can offer a clearer, single document that reflects all updates, streamlining the estate planning process.

Tips for Estate Planning

A financial advisor can help you create and make updates to your estate plan. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
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