WILLS AND PROBATE (021) 470 8570

Creating a will allows you to:

• Express your wishes – without a will, your estate will be divided according to intestacy laws and not what you desire.
• Provide for those you chose
• Protect your children
• Lessen inheritance tax
• Reduce the chance of your estate being contested

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.

• Be over 18 years old or else married (or married in the past)
• Be of a sound mind
• The will must be in writing.
• You must sign the will in front of at least two witnesses.
• You must sign your will at the end of the document

Although there isn’t one standard will template in Ireland, the last will should contain these ten essential elements:

• Your name and address
• A clause to revoke (cancel) all your previous wills
• The names of your executors (executors are people you trust and appoint to work with your solicitor to carry out your wishes)
• A list of your money and goods and the people you want to inherit these items
• A list of your property (or properties) and the beneficiaries you leave it to (you may also include instructions for the house to be sold and the money to be shared among your heirs)
• A clause to deal with any property or item not mentioned in your will (this is called a residuary clause)
• The date
• Your signature
• The signatures of your two witnesses
• An attestation clause (this clause says that your will has been created in a manner that meets the legal requirements)

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.

• A general legacy is a gift you can leave that will come out of your estate once all your debts are paid, any tax you owe is settled, and all your specific legacies are taken into account.
• A legacy – is a specific gift you want to leave someone, such as a vehicle.
• A demonstrative legacy – is a combination of a general and specific gift.
• A conditional legacy – this legacy has a condition that goes with it, and the heir has to fulfil that condition to receive the gift.
• An abated legacy happens when there is not enough in your estate to cover your debts and liabilities.
• An adeemed legacy – if you give away an item you have listed in your will during your lifetime, the gift is considered adeemed.
• A charitable legacy – you must identify the charity you wish your gift to go to

• Marriage revokes a will, but divorce doesn’t – if you get a divorce,d and your beneficiaries change,  make sure you create a new choice.
• Don’t forget any wills you may have created in other countries – a revocation clause revokes all your previous choices, and your foreign intentions will be cancelled, too, and this may not be what you want.
• Keep your will safe – if your choice is destroyed, it will cause a problem

• Name more than one executor.
• Don’t name an alternative executor as this confuses (say “I appoint Miranda” rather than “I appoint Lousie or Michael”)
• Use a solicitor to draft your will.

• Appoint trustees and guardians
• Establish a trust out of your estate
• Provide additional powers for your executors and trustees

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.

• Gifts left to children.
• Gifts left to fulfil a legal or moral duty
• Gifts left on trust for someone else.
• A will that accounts for the possibility of a beneficiary predeceasing you

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.

• Express your wishes – without a will, your estate will be divided according to intestacy laws and not what you desire.
• Provide for those you chose
• Protect your children
• Lessen inheritance tax
• Reduce the chance of your estate being contested

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.

https://www.breakingnews.ie/ireland/court-refuses-to-rule-that-womans-will-left-irish-holiday-home-to-neighbour-1333695.html

Tax on gifts and inherritance

Stamp duty is tax you pay when you transfer property