WILLS
What does a Will do?
Your Will guarantees your assets are distributed in the way you want when you
die. If you don’t have a Will, you don’t have a say.
What is a Will?
A Will is a legal document that enables specified people (your Executors) to distribute your assets according to your wishes when you die.
Your assets include your house, land, car, shares, bank accounts, insurance policies and any other goods that you own.
The Will sets out which asset goes to which “beneficiary”. Beneficiaries can be family members, friends, or even charities and organizations.
If you have a young family, your Will can also state who is to be the legal guardian of your children.
What if I die without a Will i.e. “Intestate”?
If you don’t have a Will, you don’t have a say in how your assets will be distributed as your assets will be distributed according to a rigid formula set down by law. Your children or other minors in your care may not receive the protection you would have wished.
Your estate may be administered by someone you would not have appointed!
If you have no relatives, it is possible your assets will go to the Government.
For all these reasons, it is wise to make a Will. Any person over the age of eighteen years and of sound mind can make a Will.
How can Hefferan & Co. Solicitors help me to prepare my Will?
We can help you in the following ways:
- Making sure the Will is valid – that is, properly drawn up, and correctly signed and witnessed.
- Making sure your wishes are clearly recorded.
- Making sure you have made adequate provision for your spouse and children, including who should be the legal guardian of your children.
- Advising you on choosing an Executor and on the Executor’s right to be paid for his or her time and trouble.
- Advising you on the possibility of claims against your estate.
Can I alter my Will?
A Will only takes effect at the time of death. You are therefore free to alter your Will in writing at any time and as often as you wish.
Does marriage affect an existing Will?
Generally, unless the Will specifically states it has been made in contemplation of your forthcoming marriage, it will automatically become invalid when you marry. If you are planning to get married, you should consult us about making the necessary changes to your Will.
Divorce can affect your Will by cancelling any assets you may have giften to your spouse. Separation does not affect your Will however, should you and your spouse separate, you should talk to us about the need to make a new Will.