Template Description

This template for a codicil substituting a trustee appointed under a will is a concise MS Word document categorized under Wills and Estate Planning. It is designed for individuals who wish to make amendments to their will, specifically to replace a trustee or executor. The intended audience includes testators, estate planners, and legal professionals involved in drafting or modifying wills.

Understanding the Codicil Substituting a Trustee

Key Terminologies:

• Codicil: A legal document used to make amendments to an existing will without rewriting the entire document.
• Trustee: An individual appointed to manage trust assets as per the provisions of the will.
• Executor: A person responsible for administering the estate of the deceased as directed by the will.

Key Provisions in the Template:

Declaration of Codicil:

• Establishes the document as a first codicil to the testator’s existing will, referencing the original will’s date.

Substitution of Trustee and Executor:

• Revokes the appointment of a previously named trustee or executor who is no longer available (e.g., due to death).
• Appoints a new trustee or executor in their place, along with the corresponding bequeathment, if applicable.

Revocation and Reconfirmation:

• Revokes any previous legacy or provision linked to the original trustee.
• Reaffirms all other provisions of the original will, ensuring clarity and continuity.

Signature and Witnesses:

• Ensures legal validity by requiring the testator’s signature and attestation by witnesses.

Key Considerations:

• Clearly specify the changes to avoid ambiguity.
• Include the full names and details of both the original and new trustee/executor.
• Ensure the codicil is signed in the presence of at least two witnesses, as required by law.
• Consult a legal professional to review the codicil for compliance with local estate and trust laws.

Conclusion

This codicil template offers a clear and legally sound method for modifying an existing will to update trustees or executors. It ensures the testator’s intentions are respected and simplifies the estate planning process. Proper documentation and adherence to legal formalities are essential to ensure the validity of the codicil.