NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Tools for Estate Planning
Under Indian succession practice, which feature distinguishes a codicil from a fresh will?
A codicil is a supplementary document that adds to, alters or explains an existing will without replacing it. It must be executed with the same formalities as a will and is made by the testator during their lifetime.
- AA codicil is a document that adds to, alters or explains an existing will without replacing it entirelyCorrect
- BA codicil can only be made after the testator's death
- CA codicil is a document used only to appoint a trustee for a private trust
- DA codicil is a gift made through a nomination form
Explanation
A codicil is a supplement to an existing will that modifies, adds to or clarifies it, and it must be executed with the same formalities as a will. It is not a post-death document, a trust deed or a nomination.
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