In March, I was contacted by healthcare workers, persons working and stranded abroad, supermarket managers, locals in essential services – all with something in common. Neither they or their spouse had a Will made and desperately wanted to get their affairs in order – “just in case“. Whilst no one enjoys discussing the topic, in these totally unpredictable times, everyone who has a house, or a pension, or life insurance policy, or a bank/credit union account, financial investments etc. should have a Will to deal with his or her Estate after death.
Therefore, I am taking Winston Churchill's advice by covering the essentials on the subject matter of making a Will.
What is a Will?
A Will is a legal document that after death appoints an Executor who will deal with the assets and liabilities, and then distribute the Estate to his or her appointed beneficiaries. Generally speaking, the person making the Will decides who his or her Executors are going to be and to whom the Estate will be distributed to.
What happens if I do not make a Will?
If you do not have a Will, then the law determines who will be the administrator of the Estate and which of the next of kin will inherit the estate. It often leads to a totally unworkable position for those left behind and dealing with the fall out of the financial mess.
Is making a Will complicated?
Usually no. Quite straightforward in fact.
How do I make a Will?
Contact us and we can prepare the Will for you. Of course, we will need to listen to your circumstances and advise you.
What do I need to decide?
Basically, you need to decide who your Executor is going to be and who the beneficiaries will be.
Can I change my Will at any time?
Yes. Changes must be made by writing a new Will or by signing an additional document changing the Will.
How much to make a Will?
The cost of a basic single Will starts at €200 plus vat.
Can I make a Will whilst in lockdown?
Yes. A Will can be prepared during lockdown as legal services are regarded as essential. The signing of the Will needs to respect social/work distancing guidelines.