Are there any additional responsibilities for an executor when a codicil exists? When is it advisable to create a codicil versus a new will?
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what is a codicil Informational
- How should a codicil clearly define the terms of a life estate? Can a codicil be used to create a charitable trust or bequest?
- What are the ethical considerations in establishing such restrictive provisions? Can a codicil be used to express the testator's wishes regarding their social media accounts after death (e.g., memorialization, deletion)?
- How can a codicil ensure that a non-married partner receives intended benefits?
- What types of documents can typically be incorporated by reference? How does a codicil interact with powers of attorney?
- What is the typical relationship between a pour-over will and a revocable living trust? Can a codicil be used to name advisors or consultants to the executor or trustee?
- Will a codicil executed in one state or country be valid in another?
- What are the general rules regarding the valuation of estate assets? Can a codicil be used to provide for the ongoing care of a disabled pet through a pet trust?
- What are the legal rules regarding abatement and how can a codicil plan for this possibility? Can a codicil be used to create a spendthrift trust for a beneficiary?
- What is the purpose of the attestation clause?
- What are the tax implications of generation-skipping transfers? How does a codicil address the issue of the testator's sentimental possessions that may have little monetary value but significant personal meaning?
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