There a several good reasons why you should make a Will. Carney McCarthy Solicitors have outlined a number of reasons from a legal perspective…
- Making a Will allows you (the “Testator”) to dispose of your property after your death according to your wishes. It allows you to make special provision in a clear legal document, for all family members, partners and in particular acts as a tax planning and tax saving opportunity.
- In making a Will a Testator can choose a suitable person to handle his/her affairs on death (i.e. “an Executor”) and can also nominate a Guardian for their infant children.
- A Will should be considered by all age groups and categories of people. Signing a Will should not be regarded as a last minute attempt to tidy matters up. Most people, especially, Married Couples with young Children, or people who have recently Separated/Divorced, or live with their Partner and are unmarried, or have been bereaved, should ensure that they have an up to date Will.
- A Will becomes legally enforceable on the date a Testator dies. A Testator can dispose of property, assets, money, etc, during his/her lifetime and can change his/her will as often as desired.
- If you don’t make a Will your property will be distributed based on an order of entitlement governed by Law and may not be distributed tax efficiently or according to your wishes/intentions.
It may be time for you to take a fresh look at the benefits of Making a Will. More detailed and independent information from The Law Society of Ireland is available here.
Tags: finance, legal advice
(No Ratings Yet)
Loading ...
