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A codicil is a legal document that allows you to modify your existing will without starting from scratch. It is typically shorter than the original will, detailing only the specific changes. You should create a codicil if you need to add or modify beneficiaries or executors, clarify sections of the will, include new provisions, or add new property. A new last will is preferable in cases of significant life changes affecting multiple provisions, such as marriage, large asset changes, or charitable distributions. This approach ensures comprehensive updates rather than piecemeal modifications.