Making or updating my Will
Solicitor John Whelan explains why it is important both to make a Will and to keep your Will up to date.
Your Will is a legal document that sets out what you want to happen to your property, possessions and assets after your death. Most people understand the importance of making a Will however many people fail to realise that it is equally important to keep your Will up to date. This is because your wishes may change over time and, in certain situations, your Will could become invalid.
Examples of changes that affect a Will include:
- New family member
- Death of a beneficiary or executor
- Change of country
- Change in tax laws
- Change in assets
Preparing your Will
It is always advisable to have your Will properly drawn up by a Solicitor. To make a valid Will you must be over 18 years of age and of sound mind.
Your Will must be in writing and you must sign it in the presence of two witnesses. Your signature must be at the bottom of the document. Your witnesses and their spouses/civil partners cannot be beneficiaries of your Estate.
The information that your Solicitor will need in order to draw up your Will includes:
- Your name and address
- Marital status
- Executor’s name and address
- Details of your children
- List of your property, assets and possessions
- Details of your beneficiaries
If you die without making a Will, or if your Will is invalid, your Estate will be distributed in accordance with the laws of Succession.
Executors of your Will
When making your Will, you need to appoint an Executor. This is the person (or persons if you have more than one Executor) who will carry out the instructions in your Will. Ideally, your Executor should be someone who is likely to outlive you. You may also want to designate an Alternative Executor in case for some reason your primary Executor is unable to administer your Estate.
Beneficiaries are the people who are receiving a benefit under your Will.
Provision for your children
If you have young children, you may want to prepare a Trust Will and to designate a guardian. Unmarried couples who have children need to ensure that each person’s Will states who is to have custody of their children.
How we can help
To ensure that your Estate is distributed in accordance with your wishes, it is vital to make a Will. You should also review your Will at least once a year and update it when necessary. If you require more information and/or advice, John Whelan, Solicitor in Whelan Law, in Cashel would be delighted to answer your questions. John can help you draft or update your Will and ensure that it is legally sound and reflects your wishes. Contact us for details.