Have you written a will? Many people haven’t. Generally, it is advised that all adults have a will, regardless of their financial situation. But what happens if you have more than one will? It is not uncommon for people to discover after the death of a loved one that they have more than one will. This blog looks at what happens in this situation.
Which Will Wins?
Generally speaking, if multiple wills are found after a loved one has passed away, the latest one will take precedence. This is because, legally, a will is revoked if a new one is created. Most professionally drafted wills begin with ‘I hereby revoke all previous wills and codicils.’ To avoid confusion and examine only your latest wishes, this simple language is used. If a new will contains a revocation clause, earlier wills are invalid—only the latest valid will takes effect.
Accidental Revocation
A new will without a revocation clause causes problems. Without legal assistance, homemade wills often have this problem. The legal position becomes uncertain, and the two wills can be interpreted in conjunction with each other. This can cause significant issues, for example, the wills may disagree on who should be the executor or who should inherit assets. The executors must seek a court ruling, which takes time and money and depletes the estate. Also, if the new will merely addresses a single topic (e.g., a new gift to a friend) without a residuary clause, the court may view it as revoking the old will’s specific gifts but leaving the remainder unaccounted for. This would imply that the estate residual is allocated according to intestacy regulations, contrary to your preferences.
Codicils
Instead of writing a new will for minor adjustments, you can use something called a codicil. Legal documents called codicils supplement wills. You can make little changes like:
- Changing executor.
- A tiny, tailored donation to a beneficiary.
- Minor correction.
A legitimate codicil must be signed and attested, just like a will, and stored securely with the original will. To minimise confusion, it is usually suggested to draft a new will and properly revoke any previous documents for important modifications, such as a large beneficiary or estate structure change.
In Conclusion
Having more than one will referring to the same estate will almost definitely lead to confusion and delays, and could even cause costly family feuds. You should ensure that you have a single will, and this will should be updated after any significant change, including the sale or purchase of property or businesses, investments, births, deaths, marriages, and divorces.
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