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A codicil is a legal document that allows modifications to an existing will without requiring a complete rewrite. It is typically shorter than a will, detailing only the specific changes desired. You should create a codicil if you need to add or change beneficiaries, executors, or specific sections, or include new property. However, it may be better to create a new will in circumstances like significant life events (e.g., marriage) that affect multiple provisions, major asset changes (such as acquiring real estate or winning the lottery), or when amendments created by a codicil are substantial.