We at Blake & Kenny would strongly suggest that every adult make a will under the guidance of an experienced solicitor. A will is also an important tax-planning device, and can be drafted to make the best possible use of the various tax reliefs available.
Preparation and drafting of a Last Will and Testament
A Will is a legal document by which a person can clearly set out their wishes and instructions in relation to particular matters to take effect on their death. By making a Will, a person not only plans and provides for what happens to their assets upon their death, but can also provide for the special needs of certain vulnerable family members.
Making a Will involves careful tax planning and consideration to ensure that a person's assets will be distributed in the most tax efficient manner. A person is entitled to revise their will up to the date of their death, and we would advise that as your particular life circumstances change, or as tax legislation is amended, you consult our experts to review your will.
When a person dies without making a Will, they are said to have died intestate, and essentially lose control over how their assets will be distributed. Instead, their assets will be distributed in accordance with the Rules of Intestacy as set out in the Succession Act 1965.
Administration of estates
Blake & Kenny Solicitors have many years of experience in providing an expert legal service to Executors, Legal Personal Representatives, and beneficiaries. We deal with all aspects of the administration of estates, both where there is a will and where the deceased died without making a will.
Our solicitors are experienced in all aspects of a deceased's estate, from drafting and preparing all the necessary documents for lodging with the Revenue Commissioners and the Probate Office in order to extract the relevant grant of administration, to dealing with all estate taxes, right through to the distribution of the estate and preparation of the estate accounts.
We also provide a service of independent legal advice to beneficiaries in an estate who may need separate legal or tax advice.
Inheritance tax
Inheritance Tax (Capital Acquisitions Tax) is a tax arising where a person (known as a beneficiary) receives an inheritance from someone who has died. Whether or not inheritance tax is payable depends on several issues, such as the value of the gift or inheritance received and the person from whom it is received.
Inheritance tax is payable at the relevant rate on an inheritance where the value exceeds certain exemption limits (known as tax free thresholds). A person's tax free threshold is determined by their relationship to the deceased.
Tax rates and reliefs can change annually, and Irish inheritance tax free thresholds have been reduced considerably in recent years while the rate of tax has continued to increase. Our staff are highly skilled in providing expert tax advice to beneficiaries, and in the preparation and submission of tax returns on their behalf.
Making an Enduring Power of Attorney can often be equally as important as making a Will.
Disputes
It is not unusual for disputes to arise during the course of the administration of an estate. Our solicitors at Blake & Kenny have extensive experience in dealing with contentious issues between beneficiaries, claims by aggrieved family members, Section 117 claims brought by a child of the deceased, and actions involving disputes over the interpretation of a Will.
Disputes in an estate can arise for any number of reasons. Whatever the reason, our experts at Blake & Kenny Solicitors in Galway City are qualified to deal with all contentious matters.
Incapacity and care of the elderly
Unfortunately it is fast becoming a part of everyday life that a family can find themselves faced with a situation where a family member has become vulnerable or mentally incapacitated, whether through advancing age, a progressive illness such as dementia or Alzheimer's, or as a result of a serious accident.
When someone becomes mentally incapacitated, they become incapable of dealing with their own finances and affairs, unless they have made provision for such an event by signing what is known as an Enduring Power of Attorney. Our staff at Blake & Kenny Solicitors Galway are specialists in the drafting and preparation of Enduring Powers of Attorney.
Enduring Power of Attorney
An Enduring Power of Attorney (EPA) is a legal document which allows an individual to appoint an attorney or attorneys of their own choosing to manage their personal care decisions and financial affairs in the event of their becoming mentally incapacitated at some stage in the future.
Once prepared and executed, this legal document is stored securely by Blake & Kenny Solicitors and remains dormant until such time as the individual loses their mental capacity. If such a situation arises, the individual's incapacity must be certified by a registered medical expert and the EPA must then be registered with the relevant authority.
While the preparation of an Enduring Power of Attorney may be particularly relevant where a client is of advancing years, EPAs are not just of importance for the elderly; they should be considered by anyone who attends our office to make a will or to buy investment property. Making an Enduring Power of Attorney can often be equally as important as making a Will.
Frequently asked questions
Common questions about probate, wills & estate planning.
- Why should I make a will?
- A will lets you decide who inherits your assets and in what proportions, provide for vulnerable family members, and use available tax reliefs. Dying intestate means assets are distributed under the Succession Act 1965 rules, regardless of your wishes.
- How often should I review my will?
- Any time your circumstances change significantly, such as marriage, separation, the birth of a child, the death of a beneficiary, the purchase or sale of major assets, or substantial changes in tax legislation. Wills can be revised at any time up to the date of death.
- What is an Enduring Power of Attorney and who should consider one?
- An EPA appoints someone to manage your personal care and financial affairs if you lose mental capacity. It is not just for the elderly; anyone making a will or buying investment property should consider one as part of their overall planning.
- I am a beneficiary in dispute with the executors. Can you act for me?
- Yes. We frequently act for beneficiaries who need independent advice separate from the firm administering the estate, and have extensive experience in Section 117 claims, will interpretation disputes, and other contentious probate matters.
Tell us about your probate, wills & estate planning matter
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Our intake assistant takes your details in confidence. A solicitor at Blake & Kenny reviews every enquiry and decides who can best help.
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Plan your estate with experienced advisers.
Whether you are drafting your first will, planning an Enduring Power of Attorney, or administering a loved one's estate, our private-client team will guide you through with care and discretion. Call (091) 564 340 or email info@blakeandkenny.ie.
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