Section 114 (2) of the Succession Act, 1965 states that. (2) On such appointment the personal representatives, as such, shall be discharged from all further liability in respect of the property vested in the trustees so appointed. (ii) his share under the intestacy, together with any devise or bequest to him under the will of the deceased. Trustees are appointed by the settlor/testator in the first instance. For example, a will is revoked by the subsequent marriage of a testator. Under the current law where a parent dies without making a will (intestate), the estate is distributed in accordance with specific fixed shares in the Succession Act 1965. The amount to be paid can be reduced/minimized because there is a wide range of reliefs and exemptions, provided you make a will. ‘Children’ included for the purposes of section 111 above include. He is in practice at the bar since 1985 and was called to the inner bar in 1999. (2) If the testator leaves a spouse and children, the spouse shall have a right to one-third of the estate. What appears to be one of the most boring topics imaginable has been the subject of closer scrutiny by those looking to put assets beyond the reach of creditors. The subject matter of the trust must be certain (this imposes 2 obligations: the trust property must be certain and the interest to be taken by the beneficiaries must be certain), The objects (beneficiaries) must be certain. This is a very difficult action to succeed with. a) The sum of €25,000 or the whole of my estate after the payment of my debts, funeral, testamentary, administration expenses and legacies and. Any proposed beneficiary can disclaim his inheritance. As a trust is not a legal entity per se it cannot hold assets or enter contracts or carry out any other legal formalities. Section 117 of Succession Act, 1965 provides: The Court will consider the situation from the perspective of a prudent and fair parent and must consider the position of the other children of the testator also. (3) If an intestate dies leaving issue and no spouse, his estate shall be distributed among the issue in accordance with subsection (4). The words used by the testator must have been imperative to show his (her) intention to create an obligation. This sworn document sets out the history of entitlement of the applicant to extract the grant of administration. 2020 Terry Gorry & Co. Solicitors, The Man to See™. The 2009 Act covers all trusts of land ,whether created by will or otherwise. (2) In any other case, a devise or bequest in a will to a spouse shall be deemed to have been intended by the testator to be in satisfaction of the share as a legal right of the spouse. If you leave a benefit in your will to your child who predeceases you the benefit will go to his estate, You can prevent this happening by making provision in your will that the benefit will go to, for example, your child’s children, You can engage in tax planning/minimisation of capital acquisitions tax by making a will, Your choice of executor is critical-(s)he handles your affairs and extracts the grant of administration, The only will that counts though is the last one before you pass away, Your will must be in writing-it could be carved in stone, You must sign it at the end of the will and your signature must be witnessed by 2 people, Your witnesses cannot benefit from your will so if you intend leaving either one (or both) something get a different witness(es), Your will must contain your name and address, Your will should revoke all previous wills (if any), A list of legacies refers to your money or goods, A list of devises in your will is a list of your real property, You cannot appoint alternative executors because your will will fail for uncertainty eg “I appoint Mary or Sean to be my executor”, If you have children under the age of 18 you should appoint trustees and/or guardians, The spouse of any of your witnesses cannot benefit from your will, If an intended beneficiary predeceases you and there is no clause in your will dealing with the residuary of your estate that benefit will be distributed as if you died intestate, Your child can bring a legal action against your estate under section 117 of the Succession Act, 1965 if you fail in your “moral duty” towards him/her, Your spouse has a legal right to a share of your estate thanks to, If you make a will your spouse is entitled to  1/3 of your estate if you leave children and ½ of your estate if you have no children, If you don’t make a will your spouse is entitled to 2/3rds of your estate if there are children and the whole shooting match if there is no children, Children referred to at 26, 27, 28 above includes martial and non marital children and adopted children, Your spouse can cease to be a spouse in 4 ways:By renunciation (, If your will is valid, there is a presumption of testamentary capacity.

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