In order to insure that this document is valid and enforceable, it should be prepared by an attorney. This is basic estate planning and it should not be expensive. If it is not worth $200 for a Will, how do you justify the thousands of dollars in expense to fix the problems, down the road?
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Why not just have the attorney that drafted the will in the first place revise it.
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Codicils generally require the same formalities as a complete Will to be effective. And with document assembly software, an attorney who concentrates in estate planning may be able to provide an updated Will for little additional cost. It's a good idea to have a Will reviewed every few years, and especially if a Will is over ten years old it is worth hiring an attorney.
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To respond tot he question, the proper term is "Codicil".
My colleagues are correct--have a lawyer prepare the codicil, or better yet, do a new will altogether, so that everything is in one document. What happens if the will is located but the codicil is lost?
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Why not have your parents consider a living trust.
The minimum probate fee in our office is $2500 plus costs
and can be avoided with a properly funded trust.
The cost of a trust can be less that the costs of filing a probate case, .advertising, and the
cost of bonding-not to mention the attorney fee.
The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.