The idea of drafting a will can be a daunting process for many and is often put on the long finger. However, we can give you expert guidance to ensure that your wishes are provided for when the time comes. A well thought out will can save untold heartache and expense! Maximizing the benefits of effective assets transfer to the next generation.
Wills & PRobatE
We can advise you on wills and estate planning with particular emphasis on making provision in your will for those who may need it. We prepare each will on an individual basis and are happy to liaise with your tax advisor/ accountant should you wish as some beneficiaries may find themselves exposed to a considerable tax bill at a difficult time in their lives.
Administration of Estates/ Probate: both contentious and non contentious
The extraction of a grant in Ireland / abroad for a deceased person may be required to finalise their affairs and pass along assets. This is a necessary initial step in the administration of a deceased persons estate and is carried out by the person who is appointed executor of the will. However, the administration may also involve preparation of tax returns, here and abroad, liaising with revenue and tax advisors and managing beneficiaries expectations.
We can provide advice to executors/ administrators on their duties and powers including sales and transfers of estate property and business interests. We also provide advice to beneficiaries on their rights and where necessary challenges to Wills or entitlements by those dependants who might feel adequate provision was not made by the deceased. Please feel free to give us a call for a no obligation quote.
Enduring Powers of Attorney
An Enduring Powers of Attorney (“EPA”) is a legally binding arrangement which allows you to appoint one or more persons to act as your attorneys in managing your affairs should you no longer be capable. This can occur quite quickly in the event of a stroke or accident. Uunfortunately this is also a reality for younger people nowadays to consider due to their tendency to travel and engage in extreme sports. Many choose to appoint a family member or members to act as attorney and make all such decisions on your behalf, but you can make up your own mind as to who will act in your best interest.
Of course an EPA can only be validly made when you are well and capable of making a valid arrangement which will need to be confirmed by your doctor and solicitor. This is one of the most important decisions you can make. You are effectively empowering another individual to take care of you and manage some or all of your affairs. You can include direction to them for managing your financial, social, dietary and residential needs during your lifetime in the event you become incapacitated to a point where you can no longer make these rational decisions for yourself. This arrangement effectively enables you to allocate control of your future wellbeing in your chosen attorneys. The alternative for someone with a deteriorating mental capability is an application to the Wards of the Court Office, who make these decisions on your behalf.
The EPA does not come into effect until such time as the person making it loses mental capacity and that the attorneys register a successfully registered same. An EPA can be revoked at any time up until registration by you provided you are well enough to understand what you are doing. It is important for you to choose attorneys who are trustworthy and who are capable of sometimes making very difficult decisions. Whilst provision can be made for payment to the attorneys this is not commonly done.
Don’t leave it too late to make an EPA, think about making one at the time you’re thinking of making your Will. If you need advice, please call us.