Making a will in Ireland

Probate and Wills

Making a will

The importance of making a will cannot be overstated, By making a will you are deciding to control how your property passes on your death subject to a number of restrictions as opposed to leaving it to the State( under the laws of Intestacy dating back to 1965) to decide on your behalf. By making a will you can provide for the special needs of specific family members and you are provided with an opportunity to ensure that the absolute minimum amount of tax is paid on your death

Where there is no will made the full agreement of family members is on occasion required to distribute an estate and unfortunately this can result in acrimony between family members during a time which is difficult for a grieving family For this reason alone making a will allows us to plan for an inevitable event and provide for our loved ones to the best of our ability .

It is possible to make a will yourself however given the specific legal requirements, the changing values of property and tax implications involved it is advisable to seek professional legal advice for what is generally an inexpensive procedure . A solicitor can advise you of the legal effects of your wishes and various other matters including but not limited to the tax implications arising, the options regarding the ongoing care of minors or those under a disability.

Here are some helpful tips to assist you when considering making a will:

Decide who would be the best person/s suited to look after your affairs when you are gone. A minimum of two persons are recommended for practical reasons, should someone be unavailable or unwilling to take responsibility
Make a list of all your assets, their estimated value and their location. It is very important that you advise your solicitor if you have any assets outside this country as they will require further consideration.
Draw up your family tree to include your closet living relatives.
Decide how you wish to distribute your assets. It is important to note that there are a number of legal issues which require consideration when making a will. Eg A spouse has a legal right to half of your estate if you have no children. If you have children your spouse is entitled to one third of your estate. If a Spouse is not provided for in a will, that spouse would be entitled to claim their legal right share from your estate . A Spouse could seek the family home in part satisfaction of their legal right share.
Children are not automatically entitled to any part of your estate but a child can make a claim against your estate if you have not made proper provision for them .Such a claim would be carefully scrutinised by the Courts and each case is treated on its own merits.
If you have children under the age of 18 or a dependent suffering from a disability you must decide who would be best suited to continue their care and take control of assets which benefit the child or person under a disability. Guardians and Trustees should be appointed in your will where appropriate . A Guardian has legal responsibility for the child. This is particularly important for unmarried parents

So whether you are a homeowner, a parent, single, married or divorced you will benefit from estate and tax planning . Making a will, will provide you with control over how your assets will be distributed on your death in the most tax efficient manner possible aswell as the comfort of knowing that your loved ones have been provided for and your wishes carried out.

Disclaimer | Privacy | Home | Your Rights