Wills and their Effect on Loved Ones: Making your Will with your family in mind

Wills and their Effect on Loved Ones: Making your Will with your family in mind

For many, the process of making a Will can seem like a daunting task, something that people may end up putting off for years. This is understandable as dealing with a Will is tantamount to recognising that you may not always be around to provide for your loved ones. This is a difficult but important conversation that you should have with yourself and, more crucially, your family. It is never too early to begin this conversation and set about getting your affairs in order so that your family are well looked after in your absence. It is vital to open this discussion up to your family so that you may gauge their expectations and needs for the future.

This is where the assistance of a legal professional is vital. They will be able to provide you with the relevant information and advice specific to your situation so that you can make informed decisions regarding your Will. It is important to remember that a Will does not have to be set in stone, it can be changed and adapted throughout your life as your circumstances change and shift with the times.

Beginning the conversation is the most difficult step but, once the process is in motion, it will soon become apparent that you cannot put a price on the peace of mind granted by having a solid plan in place. In this blog post, we’ll guide you through the process of making a Will and what to keep in mind when crafting a Will to suit your family’s needs.

Benefits of a Will

Recent research has shown that only 30% of people in Ireland have made a Will.  Consequently, a very large number of people pass away without any Will in place. This can cause all sorts of legal difficulties for loved ones who are left behind. When somebody dies without a Will, they are said to have died intestate. As a result, the laws of intestacy determine how the deceased person’s estate is divided and can often lead to assets being distributed in a way that the deceased person would not have wanted. In Ireland the laws of intestacy are dictated by the Succession Act of 1965. Under this act, if a person dies without having made a Will, their estate shall be distributed in the following way:

– If the deceased was married or in a civil partnership at the time of their death, their spouse or civil partner will inherit the entire estate.

– If the deceased was not married or in a civil partnership but had children, their children will inherit the estate in equal shares.

– If the deceased had no spouse, civil partner or children, their parents would inherit the estate.

– If the deceased had no surviving close relatives, their brothers and sisters (or their descendants) will inherit the estate.

– If the deceased had no surviving close relatives, other relatives would inherit the estate.

– If the deceased had no close or distant relatives, their estate would go to the State.

Your vision for your family’s future may not align with the lines of distribution laid out by the Succession Act. It is clear from these laws around intestacy that having a Will in place gives you a much greater say in how your assets will be distributed when you die.

Probate

Upon your passing, your estate must enter a process known as “probate”. This is a legal process, handled by The Probate Office, that must be carried out before your assets can be handed over to your loved ones. Your estate must enter probate regardless of whether or not you have a Will in place, however, the probate process is made far more complicated and time-consuming where no Will was ever made.

When there is a Will in place, an application for a grant of probate must be made to ratify the Will and have the wishes of a Will carried out. In this instance, the executor of the Will will be entrusted with the responsibility of distributing the deceased’s estate in line with the wishes laid out in the Will. When a deceased person has passed away without a Will, an application for a grant of administration must be made. An “administrator” (generally a next of kin of the deceased), is put forward and becomes responsible for administering the distribution of the estate in accordance with the laws of intestacy.

In an intestacy situation the probate process can be more complex and time-consuming for your loved-ones. For example, a bond will be required for a sum equal to twice the gross assets of the estate. In a Will situation this is not required which, again, underscores the importance of having a Will in place.

Seeking out appropriate legal advice from an experienced solicitor when wishing to settle your affairs is crucial. Your solicitor will work with you to compile all the necessary information and documentation to help the whole process run as smoothly as possible.

Your Children and Your Will

Perhaps the most vital thing to consider when making a Will is how your children will be affected. If you die without a Will, your children may be left in the care of somebody you would not have chosen. This could be a grandparent, an aunt or uncle, or in extreme circumstances, the State.

When you write a Will, you can appoint legal guardians for your children. These are the people who will take care of your children if something happens to you and their other parent. You can also use your Will to leave money or property to your children. This can be done directly or through trusts. If you have young children, it is especially important to have a Will in place so that provision can be made for their maintenance and educational needs up to 18 years of age and thereafter. Any part of an estate that is to be left to a child as inheritance can not be claimed by that child until they reach the age of 18 – Succession Act, 1965. However, many parents opt in their Will to stipulate that their child or children should not benefit from inheritance until they are older – perhaps 23 or 25 years old. 

Defining Your Family

Nowadays, the word ‘family’ is flexible and can hold a different meaning for a lot of people. You might have a traditional family set up with a spouse and children. Or you might be in a same-sex relationship or be in a civil partnership. You might also be single or divorced. You might have stepchildren, foster children, or children from previous relationships.

No matter what your family looks like, it is important to consider them when making your Will. This includes not just your immediate family but also any extended family members who you wish to include in your Will.

Keeping your family and loved ones in mind should be at the heart of every major life decision, especially when it comes to making your Will. Making a Will gives you the opportunity to ensure everybody who is important to you is considered and acknowledged upon your passing.

 

Here at Kevin O’Higgins Solicitors, we have decades of experience in succession and probate law and would be happy to work with you to create the perfect Will to suit your circumstances. If you would like to begin the process of writing a Will or have any further questions please contact us today. We’re more than happy to help.

Finding the Right Solicitor to Make Your Will

Finding the Right Solicitor to Make Your Will

Finding the Right Solicitor to Make Your Will.

Making a will can be a complex legal process. There are many varying steps that require a level of detail that may lead to complications or misunderstandings. Therefore, finding the correct solicitor to develop your will can be a crucial choice – ensuring that your loved ones stay out of court, avoid dispute, and so on. Making a will is not required by law in Ireland, but it is an important step in ensuring that your estate is divided amongst your loved ones as you wish. In this blog, we will take a deep dive into the will-making process in Ireland and how matching the right solicitor with the right circumstances can prevent future headaches further down the road.

 

Before we begin this blog, it is important to have an understanding of some legal definitions when it comes to will-making/probate law, as they will crop up throughout.

Estate – Simply, the possessions that you own and/or intend to divide among your chosen beneficiaries.

Beneficiaries – The recipients of your estate. 

Testator – The person who writes the will i.e the person with the capacity to make the will.

Intestate – If you pass away without leaving a will, you are said to have died ”intestate”.

Witness – The people or persons chosen to oversee the signing of the will and guarantee its validity.

Executor – The person entrusted to carry out the wishes of the will maker upon his or her passing.

 

When it comes to making a will in Ireland, there are many things to consider. There are also a certain number of legal requirements that must be met. You must be over the age of 18 and of sound mind to make a will. The will must also be officially laid out in writing, with your confirmed signature and the signature of two witnesses, present at the will’s completion.

Before we begin this blog, it is important to have an understanding of some legal definitions when it comes to will-making/probate law, as they will crop up throughout.

Factors to consider when deciding to make a Will

If you die without having made a will, you are said to have died intestate and your estate will be distributed according to the rules of intestacy. This may not be in line with your wishes and can cause disharmony and disputes among your loved ones.

One very important thing to consider when drafting a will is who you would like to appoint as Executor/s of your will. The Executor is the person who will be responsible for administering your estate in accordance with the terms of your will. This can be a daunting task and you should consider appointing someone you trust implicitly to carry out your final wishes.

You must also be aware of the potential for inheritance tax in Ireland – known as Gift and Inheritance Tax (Capital Acquisition Tax). This is a tax that is payable on the value of your estate above a certain threshold. The rate of inheritance tax is currently 33% but there are some reliefs and exemptions which can reduce this liability. Your will can be drafted with the impact of inheritance tax in mind. This is why it is incredibly important to employ the expertise of a solicitor when drafting your will. A good probate solicitor will be able to navigate the legal requirements to pay inheritance tax to ensure all relevant taxes are paid, while also ensuring your loved ones receive the appropriate amount of your estate.

Another thing to note, your assets are not the only thing to be considered when you are drafting your will. If you are someone with young children or dependents, another very important consideration when making your will is guardianship – who will care for your children if the unthinkable happens. You can appoint a guardian in your will to ensure that your children are cared for in the event of your passing.

What Should be the Contents of My Will?

A defined format for a will does not exist. According to Irish Probate Law, the will does not have to follow any particular order, but it must include the name and address of the testator, a revocation of any previous will that may have been produced, a named and appointed ”executor” along with their address. It is also advisable to list any assets and debts that the will maker has at the time of writing the will. This can be extremely helpful for the Executor as it gives them a starting point when it comes to distributing the estate.

Once these basic requirements have been met, you are free to include anything else in your will that you see fit. It is important to note that any Will made in Ireland must be signed by the testator and two independent witnesses in the presence of each other. The will must also be dated.

Ensuring that your will is drafted with the aid of a solicitor is imperative to avoid the creation of “DIY wills”, something which the courts in Ireland have had to contend with. The main reason for the existence of DIY wills is that people often try to avoid the perceived hassle and expense of employing a probate solicitor. However, the time, energy and cost of dealing with probate disputes and litigation off the back of an improperly prepared will, will almost certainly outweigh any initial expense.

Changing your Will in the Event of a Change of Circumstances

Once a will has been written, it does not mean it has to be set in stone.  If there are any developments in your personal circumstances, it is important to review your will and make any necessary changes.

If you wish to implement these changes, the testator can add a separate document, referred to as a codicil.  A Codicil is simply an amendment to an existing will and must be signed and witnessed in the same way as the original will. It is advisable to have your will reviewed by a solicitor every few years, or sooner if there are any major changes in your life such as marriage, divorce, birth of children etc.

However, if the circumstances have changed drastically, it might be more efficient to revoke the will entirely. To do this, you must destroy, burn or tear the will and all copies of it. From here, you should work with your solicitor to draft a new will to reflect your new wishes and change in circumstances.

The Role of the Solicitor in Making a Will

While it is possible to write your own will, it is highly advisable for one to employ the services of a highly qualified probate solicitor to write it for you, such as what we have on offer here at Kevin O’Higgins Solicitors. The role of the solicitor in this process can be dictated by you. You may wish for the solicitor to simply draft the will in accordance with your wishes or you may want the solicitor to take a more active role and advise you on tax planning, asset protection, the creation of a trust or other matters relating to your estate.

It is also worth noting that only a solicitor can certify a will for safekeeping by the Probate Office. This is important as, if you were to die without a will or with an invalid will, your estate would be distributed in accordance with the rules of intestacy which may not be in line with your wishes.

There is no set cost in the will-writing process, as the amount you pay will be dictated by the role you want your solicitor to take and the complexity of your estate.

At Kevin O’Higgins solicitors, we understand that each person’s circumstances are unique and we tailor our service to suit your individual needs.

Matching my Circumstances with the Right Solicitor

When looking for a solicitor to assist in the will-making process, it is important that you find somebody who you are comfortable with and who you feel confident will act in your best interests. You should also ensure that the solicitor has the relevant expertise and experience in Irish will-writing and Probate Law.

Once you have found a solicitor that you feel meets these criteria, it is important to discuss your individual circumstances with them and ensure that they understand your wishes. This will allow them to provide you, confidentially, with the best possible service and advise you on the most efficient way to distribute your estate.

 

Conclusion

At Kevin O’Higgins Solicitors, we pride ourselves on providing a personal and professional service to each of our clients. We take the time to get to know you and your circumstances so that we can provide you with the best possible advice.

If you would like more information on will-writing or any other probate law matters, please do not hesitate to contact Kevin O’Higgins Solicitors today.

Making a Will in Ireland – Your Questions Answered

Making a Will in Ireland – Your Questions Answered

The act of making a will is not something that most people like to think about. After all, it means coming to terms with our own mortality. End of life planning is a sensitive subject that people often prefer to not address, however, it is an important conversation to have and a conversation to begin sooner rather than later.

The importance of making a will can never be understated. It is one of the most important things you can do to protect your loved ones and ensure that your wishes are carried out after you pass away. If you have children, a will is an essential document. It protects your children and provides for them financially should you die. If you do not have children, a will allows you to decide exactly who will receive your possessions and estate after you die and can help to avoid any family disputes.

Many people put off making a will because they are not sure where to start or what they need to know before they begin the process. This blog post will answer some of the most commonly asked questions around making a will in Ireland so that you can be better informed and feel more confident about taking this important step.

Why Do I Need a Will?

A will is vital in ensuring that your wishes are carried out after you die and that through the appropriate distribution of your estate, your loved ones are taken care of financially. If you have young children, a will allows you to appoint a guardian for them should you die and make sure your money, belongings and assets are passed down accordingly when they come of age. This is also referred to as your “estate”. Your estate is everything you own including your house, car, savings, investments and personal belongings. It is not the assets you possess at the time of signing your will, but the assets you possess at the time of your passing. This is the estate that will be distributed as you wish through your will.

The benefits of a will do not end with your family’s financial security. There are numerous other benefits such as;

  • You may use your will to describe your wishes in death, such as whether you want to be buried or cremated, and what type of ceremony you would like carried out in the event of your passing.
  • If you are unmarried and have a partner, a will is a perfect way to guarantee that they will be covered under the law.
  • You can use your will to support charities or causes that you care about by including them as beneficiaries in your will.
  • A will can also help to avoid any family disputes that may arise after your death as it provides clear instructions on how you would like your estate to be divided. It will be one less thing for your family to worry about at a time when they are already suffering the loss of someone they cared deeply for.
  • Making a will can provide you with great peace of mind, knowing that all your affairs are in order is a weight lifted off your shoulders. It allows you to live your life to the fullest, safe in the knowledge that should anything happen to you, those you love will be taken care of.

What Will Happen if I Don’t Make a Will?

If a person dies without having made a will in Ireland they are said to have died “intestate”, and their estate will be distributed according to the intestacy rules. Their estate will subsequently be distributed in accordance with the Succession Act 1965. The Succession Act of 1965 establishes the estate distribution in line with anybody who is designated as a deceased person’s surviving family, be it spouse, civil partner, or child.

For example if you are survived by a spouse or a civil partner they will inherit your estate, or if you are not survived by children or relations the State will inherit your estate. It’s possible though that these default lines of distribution aren’t the way you want your estate to be administered and without a will in place your wishes can be easily misconstrued.

How Do I Make a Will?

It is strongly advised to contact a solicitor to assist in the process of writing your will. A will is a legally binding document and as such there are certain rules and regulations that must be adhered to in order for it to be considered valid under the eyes of the law:

  • You must be over 18 years of age
  • You must be of sound mind
  • The will must be in writing
  • The will must be signed by you in the presence of two independent witnesses who are both present at the same time
  • Additionally, both witnesses must sign the will in your presence and in the presence of each other.
  • The signatures must be located at the end of the will

You can prepare your own will or you can instruct a solicitor to do it on your behalf. If you prepare your own will it is advisable to have it checked over by a solicitor to ensure that it meets the legal requirements and covers everything you want it to. We will cover the benefits of hiring a solicitor in greater detail shortly.

What Information Does My Solicitor Need to Prepare My Will?

At the very least, your will should cover the following:-

  • Your personal details including your full name, address, date of birth and nationality
  • The names, addresses and dates of birth of your spouse or civil partner and any children you have
  • Who you would like to benefit from your will and how. You can leave specific items or sums of money to people (known as “specific bequests”) or you can leave everything to one person.
  • Who you would like to appoint as executor(s) of your estate. Furthermore, you may want to appoint more than one person as joint executors. This means they will share the responsibility for dealing with your estate.

An executor is the person, chosen by the deceased, to deal with the administration of the will upon the deceased’s passing. It is the responsibility of the executor to take out “probate” on a will. The process of taking out probate involves the executor bringing the will to the Probate Office – the Irish body responsible for recognising the legality of a will – to ensure that the will is legal and binding and that all financial and tax matters regarding the will are in order. A will can only then come into effect once the Probate Office signs off on its validity. If a deceased has no will then the individual tasked with handling the person’s estate is known as an “administrator”.

It is important to bear in mind that there are statutory entitlements under the Succession Act in regards to whether or not you have children and what they are entitled to. Up until 1965, a person’s estate was theirs to do with as they pleased after their death, regardless of their spouse or children’s circumstances. However, under Section 117 of the Succession Act, a child can contest a will if they feel that they have not been adequately provided for.

If the court decides that the child has not been adequately provided for, they can make an order for “provision” to be made from the estate. This means that the court can award a lump sum of money or transfer property to the child out of the estate, or make some other order for the child’s benefit. These are exactly the type of necessary, legal provisions that an experienced solicitor can help navigate.

Can I Amend my Will?

You can and should review your will at least every five years or whenever a major life event occurs, such as getting married, having children, buying a property or receiving an inheritance. If you don’t review your will and something happens that isn’t covered by it, your estate may not be distributed according to your wishes.

Is it Risky to Forego a Solicitor When Making a Will?

While it is possible to make a will without using a solicitor, it is heavily advised against. This is because the legal requirements for a valid will are quite specific, and if even one of them is not met correctly, the will may be found to be invalid. If you use a solicitor to prepare your will, they will ensure that all the necessary requirements are fulfilled down to the finest detail.

What Can a Solicitor Do in Helping Me Make a Will?

A solicitor can help you with a will in a number of ways. First, they can ensure that your will meets all the legal requirements for it to be valid. Second, they can help you to decide what should go into your will. This includes deciding who should be the executor of your estate and who should benefit from your estate. Thirdly, they can help you to change your will if you need to. This could be because you have married, divorced, had children or bought a property since you made your last will. Finally, they can keep your will safe for you. This is important because if your will cannot be found when you die, it may be considered to have been destroyed and will therefore be invalid.

As you can see, there are many tricky legal provisions and potential pitfalls when it comes to making a will. This is why it is always best to seek the advice of a solicitor when doing so. There is much to be said for the peace of mind that comes with knowing your affairs are in order and being managed by someone with years of experience. If you have any further questions about making a will, or would like to make an appointment to have your will prepared, please contact us at Kevin O’Higgins Solicitors. We would be happy to help you.