Making a will
Why should I make a Will?
If you care about what happens to your property after you die, you should make a Will. Without one, the state directs who inherits, so your friends, favourite charities and relatives may get nothing. Having a Will also makes it easier for your loved ones when you die. It is particularly important to make a Will if you are not married or are not in a registered civil partnership (a legal arrangement that gives same-sex partners the same status as a married couple). This is because the law does not automatically recognise cohabitants (partners who live together) as having the same rights as husbands, wives and civil partners. As a result, even if you’ve lived together for many years, your Cohabitant may be left with nothing if you have not made a Will. A Will is also vital if you have children or dependants who may not be able to care for themselves. Without a Will there could be uncertainty about who will look after or provide for them when you die. Mullins & Treacy can also advise you on how inheritance tax may affect what you own Contact us for a no obligation communication
You should also consult Mullins & Treacy for Advice about making a Will if:
- several people could make a claim on your estate when you die because they depend on you financially;
- you want to include a trust in your Will (perhaps to provide for young children or a disabled person, save tax, or simply protect your assets in some way after you die);
- your permanent home is not in Ireland or you are not a Irish citizen;
- you live here but you have overseas property;
- you own all or part of a business. After you have had a Will draw up, some changes to your circumstances – for example, marriage, civil partnership, separation, divorce or if your civil partnership is dissolved (legally ended) – can make all or part of that Will invalid.
You should review your will regularly, to reflect any major life changes. At Mullins & Treacy we can tell you what changes may make it necessary to update your Will. Contact us for a no obligation communication
Using Mullins & Treacy to make your Will
Making a Will can be a complex process and there are various legal formalities you need to follow to make sure that your Will is valid. Without the help of an expert, there’s a real risk you could make a mistake, which could cause problems for your family and friends after your death.
We are regulated and have the necessary qualifications and training to address the often complex issues associated with drafting a Will and can help ensure your estate is left to those you wish to inherit after your death. Contact us for a no obligation communication
What will need to know to make your Will? Contact us for a no obligation communication
We will need to know the following details from you in order to make your Will and provide you with full and proper tax advice.
What do you own?
Details of everything you own, including property, cars, personal valuables, stocks and shares, bank accounts, insurance policies, any businesses you own, and pensions.
Who gets what?
Who do you want to leave these assets to? How do you want to divide your estate between your loved ones, friends or charities? Are there any conditions you want to attach to these gifts (for example that young people must reach a particular age before they are paid money you have left them)? Contact us for a no obligation communication
Family and other beneficiaries
Details of your family and status. Are you divorced or has your civil partnership been dissolved? Have you remarried or entered into a new civil partnership? Or are you living with someone without being married to them or being their civil partner? Do you have any children or any other dependants? Contact us for a no obligation communication
Anyone who depends on you financially can ask a court to review your will if they feel you have not provided properly for them. If you give us all of the relevant details, we can tell you about any possible legal pitfalls. Contact us for a no obligation communication
If you have any children who may be under 18 when you die, you may need to name someone as their legal guardian. Contact us for a no obligation communication
Do you have any particular wishes for your funeral? Do you want to be buried or cremated? Contact us for a no obligation communication
Are there any other instructions? For example, if you want to be an organ donor this can be included in your will, although it won’t be legally binding. However, it is also a good idea to record your wishes on the organ-donor register, or to carry an organdonor card. Contact us for a no obligation communication
Executors of your Will
You must also name the people you want to appoint as executors of your Will – the people who carry out the administration of your Will after your death. These could be friends or family members, or a professional such as your accountant or lawyer. Ideally, you should choose someone who is familiar with financial matters. Make sure you ask your executors whether they are happy to take on this duty as there are long term responsibilities involved. Contact us for a no obligation communication
Signing the will
Once the Will has been drawn up it is not effective until it has been signed. There are several rules affecting the signature process which, if not followed correctly, will make your Will invalid. For example, witnesses and their husbands, wives or civil partners cannot benefit under the Will. Contact us for a no obligation communication
Where to keep the Will
It is important to keep your Will in a safe place and tell your executors, a close friend or relative where it is. We will store your Will for you free of charge. Contact us for a no obligation communication
Keeping your Will up to date
You should review your Will at least every five years and after any major life change such as getting separated, married or divorced, having a child or moving house. It is best to deal with any major changes by getting a new Will drawn up. But it is also possible to make minor changes (codicils) to your existing Will. In both cases it is best to consult us. Contact us for a no obligation communication
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For expert and practical advice about making a will, contact Mullins & Treacy 051 391488. Alternatively, complete our “call back request” and we will contact you at a time that is convenient for you.