In PEI, a Will is your primary legal document for estate planning, while a Codicil is a smaller, separate document used to make minor updates. Although Codicils are legally valid, most lawyers now recommend simply drafting a brand-new Will to prevent confusion, lost paperwork, or costly probate delays at the Supreme Court.
Life is constantly changing. Whether you recently bought a new home, welcomed a grandchild, or experienced the loss of a loved one, your estate plan needs to reflect your current reality. When residents of Prince Edward Island need to update their final wishes, they usually face a common question: should they write a Codicil, or start fresh with a completely new Last Will and Testament?
Understanding the difference between these two legal tools is essential for a smooth probate process. 📍 While a Codicil might seem like a quick fix, modern legal practice often leans away from them. This guide will break down the differences, the requirements, and what most legal professionals in Charlottetown and Summerside recommend for keeping your affairs in perfect order.
Step-by-Step Process in Prince Edward Island
Updating your estate plan requires strict adherence to provincial laws. A mistake in formatting could render your new wishes completely invalid. Here is how you should evaluate and execute updates to your estate plan.
Step 1: Review Your Current Will
Before changing anything, read your existing Will thoroughly. Identify exactly what needs to be changed. Is it a simple fix, like updating the legal name of a beneficiary who got married? Or is it a major change, such as removing your executor or changing the percentage of the estate each child receives?
Step 2: Choose Between a Codicil and a New Will
If you only need to change one minor detail (like adding a $500 CAD charitable donation), a Codicil might be appropriate. A Codicil is a separate sheet of paper that references your original Will and specifically states the amendment. However, if you are making substantial changes to executors, guardians, or asset distribution, a brand-new Will is heavily favoured to ensure clarity.
Step 3: Execute the Document Properly
Whether you choose a Codicil or a new Will, the execution rules in PEI are exactly the same. You must sign the physical document in the presence of two adult witnesses who do not benefit from the Will. They must also sign the document in your presence. You cannot simply cross out a paragraph with a pen on your original Will; the court will ignore informal alterations.
Step 4: Store Documents Together Safely
If you execute a Codicil, it must be stored physically alongside your original Will. A Codicil cannot exist on its own. If your executor finds your Will but cannot find the Codicil, the probate court will distribute your estate based solely on the outdated original Will.
How Much Does it Cost in Prince Edward Island?
Cost is often the main reason people ask about Codicils, assuming they are significantly cheaper. While they cost less, the price gap has narrowed due to modern legal software.
- Drafting a Codicil: Having a law firm draft a legal Codicil generally costs between $150 and $300 CAD.
- Drafting a New Will: Creating a straightforward, brand-new Will typically costs between $400 and $800 CAD for an individual in PEI.
- DIY Options: While you can write a holographic (handwritten) Will or Codicil for free, these are frequently challenged in court if the wording is unclear.
| Document Type | Average Cost (CAD) | Risk of Confusion / Loss |
|---|---|---|
| Codicil (Minor Update) | $150 – $300 | Medium (Can be separated from Will) |
| Brand New Will | $400 – $800 | Low (Self-contained document) |
How Long Does the Process Take?
The time required to update your estate plan is very short. ⏳ Once you have made your decisions, a lawyer can usually draft either a Codicil or a new Will within 1 to 2 weeks. The actual signing appointment takes only about 15 minutes. It is highly recommended to review your estate plan every 3 to 5 years, or immediately following any major life event like a divorce or a death in the family.
Frequently Asked Questions (FAQ)
Does a Codicil need to be notarized in PEI?
No, a Codicil does not require a notary, but it does require two valid adult witnesses, exactly like a standard Will. However, an Affidavit of Execution sworn by one of the witnesses (often in front of a lawyer or notary) makes the probate process much smoother.
How many Codicils can I attach to my Will?
There is no legal limit, but having multiple Codicils creates a confusing, fragmented estate plan. If you have more than one or two updates, it is highly advisable to consolidate them into a completely new Will.
Can I write a Codicil by hand?
Yes, PEI law allows for holographic (entirely handwritten) Codicils. However, it must be entirely in your own handwriting and signed by you. Mixing typed text with handwritten notes without proper witnesses can invalidate the document.
What happens if I write a new Will?
When you sign a legally valid new Will, it automatically revokes (cancels) all previous Wills and Codicils you have ever made. You should physically destroy the old documents to prevent any confusion after your death.
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