What is a Will?
A Will is an instrument in writing which sets out what you want to happen to your property and assets when you die. To be valid, a Will must be in writing and must be signed by the person making it (“the Testator or Testatrix”) in the presence of two witnesses who should also sign the Will. The Testator and the two witnesses must all be present together in the same place and all must sign in the presence of the others.
Why should I make a Will?
If you make a Will you get to decide who benefits on your death and who will be responsible for ensuring that your wishes are carried out (your executor). There are some limitations on what you can or cannot not do in your Will; in particular a married person cannot completely disinherit his or her spouse, who will be entitled to a legal right share of the estate regardless of what the Will may provide.
If you do not make a Will, you will be deemed to die intestate (literally “without a will”). The law will then decide who inherits your estate, and who will be responsible for administering your estate, rather than you. There is a common misconception that if you die intestate, your estate will be forfeited to the State. This is not the case save for some very limited exceptions such as where a person dies with no living relations whatsoever.
Making a Will also means that you can plan the succession to your estate in a way that will minimise or even eliminate any Inheritance Tax liability arising on your death.
Can I change my Will?
Yes, you can change your Will by making a new one, or by adding a codicil to it to give effect to the change. Making a new Will automatically revokes any previous Will made. You can also revoke your will by destroying it but this should only be done in a specific manner and with the benefit of legal advice.
Where should I keep my Will?
Normally we store all original Wills in the secure Wills safe in our office. There is no charge for this service and we never destroy original Wills. You can of course store your Will at home in a secure place and at the very least, in a fireproof box. Banks generally no longer store Wills or Deeds for customers.
Making a Will is usually quite straightforward. We will be happy to meet you to discuss your wishes and to advise on potential Inheritance liabilities, and to then draft a suitable Will for you to review. We ensure that all Wills we prepare are properly drafted, and most importantly, properly executed. Phone our Wills and EPA Team now on 071 9142529 to arrange an appointment for a no obligation discussion about your requirements.
Alternatively, email us on email@example.com with brief details and a contact number and a member of our Wills and EPA Team will call you back to discuss your requirements. If necessary we will be happy to call to your home to take instructions from you if you cannot make it to our office.