A Will sets out who you wish to benefit from after your death. In your Will, you will appoint an individual or individuals who will ensure that your wishes, as set out in your Will, are carried out. This person(s) is called an executor. The responsibility of administrating your estate and carrying out your wishes in your Will on your death falls to the executor(s). Therefore you should give careful thought to your choice of executor.Your executor does not need special qualifications, but you should choose someone reliable.
You can appoint one or more executors and an alternative executor in case your primary executor is unable or unwilling to act after your death. Any beneficiary under your Will can act as an executor of your Will. Executors should be appointed with care. As said, your executor does not need to have any special qualifications. Still, you should choose someone reliable and willing to act and who is in a position to carry out the duties of an executor. Your executor is not bound to act as your executor; therefore, it can be wise to talk the matter over with them first. Family members are appointed in the majority of cases. Selecting an executor who is resident in the state as an executor residing outside the state could cause practical difficulties in administering the estate. Executors typically appoint a firm of experienced solicitors to deal with the legal aspects of obtaining the Grant of Probate.The age of the executor is a factor that should be given consideration when appointing executors.
While there is no age requirement, there are apparent reasons against appointing someone who is too elderly or is still a minor. It would help if you considered the responsibilities and duties of the executors before you decide on the executor or executors of your Will. It is important to note that if you appoint an executor under the age of 18 at the date of your death, they will not be permitted to apply for the Grant of Probate. The minor’s guardian or such person as the court thinks fit can be appointed to apply for the Grant of Probate for the child.It is not a requirement that you obtain a person’s consent before appointing them as executor or executors under your Will. Still, from a practical point of view, it would be advisable to ask the person or persons whether or not they are willing to act.Who you appoint as executor in your Will is entirely up to you.
Appointing an executor in a Will can be done by simply naming them in your Will. While one Executor is sufficient, it is wiser to select more than one as the situation can arise that the executor you have appointed in your Will is not able tocannot act. There is no limit on the number of executors you can appoinominateour Will, but problems can arise if too many are selected. It is widespread for people to appoint family members andexecutors a professional as executor.
Succession is the process by which wealth and asset ownership are passed from one generation to the next through a gift. This is a particularly complicated area due to the strict regulations involved, particularly regarding the tax liabilities of those receiving the gift.With the expert assistance of our specialist will writing, trusts a
Succession is the process by which wealth and asset ownership are passed from one generation to the next through a gift. This is a particularly complicated area due to the strict regulations involved, particularly regarding the tax liabilities of those receiving the gift.With the expert assistance of our specialist will writing, trusts and estate planning team, we can carefully arrange and manage the succession of your wealth and assets to minimise your tax liability and protect your legacy for future generations.
We can help you with any of our probate services with years of experience in the field.We advise individuals and their families on all aspects of succession, will writing and estate planning, paying particular attention to structuring their affairs in the most tax-efficient manner.
If you’re worried about managing your finances or making important decisions in later life, our experienced probate solicitors can help. We provide the honest and straightforward advice you need while working sensitively and discreetly at difficult times. To discuss any aspect of will writing, trusts or succession law, please call Green & Associates on 0214708570, or email:email@example.com
A will is a very important legal document which sets out your instructions for what you want to happen to your assets when you die. The requirements for a valid will are strict therefore it is important to have professional legal advice.
Probate is the process of dealing with the estate of a person who has died leaving assets that need to be administered.
Creating a will allows you to:
Regardless of the size of your estate, creating a will can be a simple process when you work with a solicitor who specialises in wills, probates and estate management.This post covers everything you need to know about making a will.
A will is a legal document that lets you express how you want your property, assets, and keepsakes to be shared on your death. The person writing the will is called the “testator” or “testatrix”.You can make as many wills as you like throughout your life, but the only one that will be valid on your death will be the most recent one you made before your death. All wills you created before this once will not have any legal standing.
Although there isn’t one standard will template in Ireland, the last will should contain these ten essential elements:
Legal language in a will often speaks of a legacy or devise.A legacy is a piece of personal property, like a piece of jewellery you want to leave to a loved one. A device is a fundamental property you wish to leave a loved one.
The need for a solicitor to write your will with you becomes apparent when you think of all the different scenarios that could arise. Professional advice pays excellent dividends in protecting your wishes no matter how circumstances might change from when you wrote your will to when your choice comes into play.The doctrine of lapse gives us a perfect example of this possibility. Suppose one of your beneficiaries passes away before you do. In that case, the legacy you left to that person will be treated as though you died intestate (without a will) unless you have included a residuary clause in the will.
Whether your estate is large or small, creating a choice helps you plan what happens to your possessions and how your finances and property can take care of your family after your passing.We’re always willing to sit down and discuss your will with you confidentially and sensitively. Don’t be one of the 70% of Irish people who don’t have a will – the stress it causes can easily be avoided by working with us to create a choice that expresses your wishes.
Regardless of the size of your estate, creating a will can be a simple process when you work with a solicitor who specialises in wills, probate and estate management.This post covers everything you need to know about making a will.
Tax on gifts and inherritance
Stamp duty is tax you pay when you transfer property
In addition to dealing with Probate and the Administration of Estates, our service includes all taxation aspects associated with an Estate. This includes dealing with Inheritance Tax liabilities for beneficiaries, providing tax planning advice to beneficiaries where appropriate and dealing with any other taxes that arise in the administration of an Estate such as Income Tax and Capital Gains Tax. Similarly, we provide a consultancy service to other Solicitors whereby we deal with the taxation aspects of an Estate on behalf of another Solicitor.
last will and testament contract
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