### What is a codicil? - [x] A change or addendum to a will that adds new provisions or clarifies a certain portion** - [ ] A document that completely voids an existing will - [ ] A document designed specifically to handle real estate assets in a will - [ ] A replacement will > **Explanation:** A codicil is a legal document that modifies, deletes, or adds terms to an existing will without the need to rewrite the whole document. This is useful when minor updates or clarifications are needed. ### When should a codicil be used instead of rewriting a will? - [x] When minor updates or clarifications to the will are necessary - [ ] When the entire will is outdated and requires a complete overhaul - [ ] When the executor of the will changes - [ ] When the will is legally contested > **Explanation:** Codicils are generally used for minor updates or clarifications, which allows the original will to remain largely intact. Situations that require an extensive revamp of the will’s contents typically warrant drafting a new will. ### What could be a reason to add a codicil? - [x] The passing away of a beneficiary named in the will - [ ] To disinherit a beneficiary without adding any additional provisions - [ ] If the will’s executor commits a crime - [ ] Changes in real estate laws > **Explanation:** In the given example, a codicil is used to address the sudden passing away of a named beneficiary. This avoids the need to draft an entirely new will, allowing for efficiency and minor updates to the existing document. ### What is a resident example of a codicil usage? - [x] Adding provisions regarding a new heir after the unfortunate accident of a beneficiary** - [ ] Completely nullifying the previous will - [ ] Making significant changes to all assets distribution - [ ] Including a new executor for the will > **Explanation:** A codicil serves to add provisions for new heirs or clarify what happens upon specific events like the unfortunate accident of an existing beneficiary, without re-creating the entire will. ### Why is a codicil preferred over rewriting a will for minor adjustments? - [x] It saves time and legal fees while making the desired changes** - [ ] It guarantees immunity from legal challenges - [ ] It avoids the need for any legal witnessing - [ ] It validates real estate transactions automatically > **Explanation:** Codicils save time and money by making necessary adjustments without incurring the cost and effort of drafting a new will. It is particularly useful for small changes like adding or removing a beneficiary. ### How does a codicil affect the original will? - [x] It modifies, deletes, or adds terms to the existing will without nullifying it** - [ ] It completely replaces the original will - [ ] It voids any previous real estate terms - [ ] It requires re-registration of the initial will > **Explanation:** A codicil allows for modifications to the existing will without nullifying it, thus providing flexibility and avoiding the complications and expenses associated with drafting a new will. ### Which of the following does NOT denote the use of a codicil? - [ ] Minor modifications to an existing will - [ ] Adding a new beneficiary - [ ] Clarifying the distribution of specific assets - [x] Complete overhaul of the existing will > **Explanation:** Minor modifications, adding a new beneficiary, or clarifying asset distribution are typical uses of a codicil. A complete overhaul requires drafting a new will rather than using a codicil. ### Which professionals likely draft a codicil? - [x] Licensed attorneys with expertise in wills and estate planning** - [ ] Real estate brokers - [ ] Financial auditors - [ ] Insurance agents > **Explanation:** Licensed attorneys who specialize in wills and estate planning are responsible for drafting codicils to ensure they comply with legal standards and accurately reflect the testator’s intentions. ### How does a codicil benefit someone with an existing will? - [x] It provides a legally recognized way to update their will without major revisions** - [ ] It makes the original will void and all previous terms irrelevant - [ ] It shields the will from any future legal challenges - [ ] It necessitates property re-evaluations > **Explanation:** Adding a codicil allows for minor updates or clarifications in an existing will, offering a legally recognized way to amend the document without major revisions or expense. ### What significant measure is taken when adding a codicil? - [x] It must be executed with the same formalities as the original will** - [ ] It requires registration in a property law office - [ ] It needs no witnesses and can be informal - [ ] It can be added verbally in the presence of a notary > **Explanation:** A codicil must be executed with the same formalities as the original will, such as being written, signed, and witnessed, to ensure it is legally binding.