Hanahoe & Hanahoe solicitors would recommend that all clients make a Will.
This ensures that regardless of what may happen, the distribution of your estate will be carried out in accordance with your wishes. Making a Will not only protects and provides for your loved ones, but also prevents them having to go through the unnecessary distress or expense of administering your estate in the absence of a Will.At Hanahoe and Hanahoe Solicitors we have over 35 years’ experience in drafting Wills and administering estates ensuring our clients property and possessions are left to their loved ones as per their wishes.
Why Make a Will
1. It ensures that the distribution of your estate is carried out in accordance with your wishes
2. If you have children it allows you to take steps to provide for their care and education
3. If the Will is drafted properly if may prevent the beneficiaries having to pay unnecessary inheritance tax
What do I need to make a Will?
1. You must be of sound mind and over 18
2. Your Will must be signed in the presence of two witnesses, who are over 18, who are not beneficiaries to the Will
3. You need to appoint an Executor/Executors whose duty it is to manage and distribute the assets of the estate
Can I change my Will?
Your will can be changed at any stage up until the date of death, provided that you are still of sound mind. We would strongly suggest that you review your Will, in circumstances where you have children, become separated or Divorced or where there is a significant change in your personal circumstances. It should be noted that if you make a Will and subsequently get married your will is invalid.
What happens if you die without making a Will?
In these circumstances, you die intestate and your estate will be administered in line with the 1965 Succession Act, which states the following:
|Married with no children.||Spouse takes all.|
|Married with children.||Spouse take 2/3rd – children take 1/3rd between them|
|You are married with some children living and with some grand children, children of a deceased child.||The spouse takes 2/3rd, children take 1/3rd between them and the grand children take their deceased parent’s share.|
|You are married with no children living but with some grand children – children of several deceased’s children.||Spouse takes 2/3rd – grand children take 1/3rd share between them all in equal shares.|
|You are single and have no children and your parents survive you.||Your parents take all equally.|
|You are single and you have no children and one parent survives.||The surviving parent takes all.|
|You are single, you have no children and you have no parents but you have brothers and sisters.||Brother and sisters take everything between them in equal shares.|
|You are single, you have no parents, no children but you have brothers and sisters surviving you but some brothers and sisters who have died leaving children.||Brothers and sisters take equal shares between them with the nephews and nieces taking their deceased parents’ share.|
|You are single with no parents, no children, no brothers and sisters surviving you but some brothers and sisters have died leaving children.||The nephews and nieces take the entire estate between them in equal shares.|
|If you are not married and you have no relatives.||Your entire estate will pass to the State.|
Glossary of terms
|Executors:||a person or institution appointed to carry out the terms of their will|
|Beneficiaries:||The beneficiaries are the persons who benefit under the terms of the Will.|
|Guardians:||The guardians are the person/persons nominated to look after your children if you die before they reach the age of 18. A guardian can also be a trustee|
|Trustees:||A Trustee is someone who holds property on trust for another – i.e. a beneficiary (generally a child). It is often the case that the Executors named in the Will are also appointed Trustees. It is usual practice to appoint at least two Trustees, when making a Will.|
|Estate:||Your estate effectively consists of all you own. It includes property, bank accounts, money, shares and possessions. All property where real or movable|
*In contentious business, a solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement.