Would you believe???
– Less than 1/3rd of Irish Adults have arranged a will
– Almost 1/2 say they ‘just haven’t got around to it’
– Over 1/3rd say they ‘have nothing to leave’
If you are a property owner, making a Will is absolutely ESSENTIAL! If you have bought a property, it’s almost certain that your solicitor told you to make a will. This is excellent advice, but is often forgotten or ignored in the excitement of becoming a homeowner.
Your home is probably your most valuable asset – even taking into account any mortgage you still have! If you die, the mortgage will be paid off, assuming you have mortgage protection cover.
More important reasons:
- Making a will is the only way you can be sure your wishes will be carried out after you pass away.
- A will allows you to appoint someone trustworthy and capable to sort out your affairs after you pass away. You choose the ‘executor’ who would take responsible.
- A valid will can save those left behind money and time.
- If you have young children, you can choose a guardian to look after them if you and your husband, wife or partner die together. You can also appoint a trustee to manage the financial side of things for the benefit of your children.
- Making a will automatically includes a checklist of your assets and liabilities.
- A will can play an important role in reducing any inheritance tax liability your beneficiaries have to pay.
Making a Will
- To make a will you must be 18 or over or married, and be of sound mind (have full mental capacity and understand what you are doing).
- Your will must be signed or “marked” in front of two witnesses. A witness cannot be someone who will benefit under your will, or the spouse or civil partner of anyone who will benefit. A witness must also be over 18 years of age. The witnesses do not have to read your will or know what it contains – they are just witnessing the fact that it is your signature.
- You can change a will or withdraw it at any time before you die, as long as you are still of sound mind.
- If you already have a will, you should review it as your personal or family circumstances change.
- If you are making a will or changing an existing will, you should always use a solicitor who will make sure the job is done properly and legally and that your wishes will be carried out.
For more information, please contact us today.