Most of us don’t like to think about death, especially when it feels like something that belongs far in the future. That’s exactly why writing a Will often gets pushed to the bottom of the to-do list.
But here’s the reality, if you have a family, own property, or simply want to make sure your wishes are respected, a Will is one of the most important documents you’ll ever create. It’s not just about money, it’s about clarity, fairness, and peace of mind.
What happens if you don’t have a Will?
If you pass away without a Will (known as dying intestate), your estate is divided according to the law, not your personal wishes. The rules are set out in the Succession Act 1965, which prioritises certain family members in a fixed order.
That might work fine for some families, but for many, it can lead to unintended outcomes and, worse, disputes at a time when emotions are already running high. The only way to make sure your voice is heard is to put your wishes in writing. For a plain-English overview of the process, the Law Society of Ireland’s guide to making a will is helpful.
Why a Will matters
- You stay in control: deciding who inherits what, rather than leaving it to default rules.
- You protect your children: by naming guardians and providing for their future.
- You reduce conflict: clear instructions help avoid arguments among loved ones.
- You plan for tax efficiently: ensuring your estate is structured to minimise unnecessary costs.
- You leave a legacy: whether that’s for family, friends, or causes close to your heart.
Think of it less as a legal formality, and more as part of your broader financial planning. Just like pensions, protection, or investing, it’s about making sure the people you care about are provided for, even if you’re not around.
Will Preparation
Here are some key things to think about before (and during) the process:
- Choose your executors
These are the people you trust to carry out your wishes. Make sure they’re willing and able to take on the responsibility.
- Decide on guardianship
If you have young children, who will look after them? Writing this down avoids difficult family disputes later.
- List your assets
Property, savings, investments, pensions, personal possessions – clarity here avoids confusion later.
- Think about how you want your estate divided
Be specific. Consider not just who gets what, but also what happens if a beneficiary passes away before you.
- Consider tax implications
Inheritance Tax can significantly reduce what your loved ones receive. Options like life insurance (including Section 72 policies) can help cover liabilities.
- Don’t forget lifetime gifts and donations
Annual gift allowances and charitable donations can reduce future tax bills and allow you to see the impact of your generosity while you’re alive.
- Make funeral provisions
Whether through insurance, prepaid plans, or simply writing down your wishes, easing this burden can be a huge relief for your family.
- Review regularly
A Will isn’t “one and done.” Revisit it when your circumstances change – marriage, children, divorce, or major financial shifts.
Bringing it all together
You’ve got the key points above. To make the next step easier, here’s a quick checklist you can work through. It helps you nail the decisions, spot any gaps, and arrive to a solicitor fully prepared.
Will Preparation Checklist
A practical guide to help you prepare for writing your Will and making sure your wishes are respected.
- Choose your executors – the people you trust to carry out your wishes.
- Decide on guardianship – if you have young children, who will look after them?
- List your assets – property, savings, pensions, investments, possessions.
- Decide how your estate should be divided – be clear and specific.
- Consider tax implications – inheritance tax planning, including life cover options.
- Remember lifetime gifts and donations – annual allowances and charitable giving.
- Make funeral provisions – insurance, prepaid plans, or written instructions.
- Review regularly – update your Will after major life or financial changes.
Tip: A solicitor can guide you through the process and help ensure your Will is legally sound. For a quick primer, see the Law Society’s Five things to know about making your will.
Final thoughts
Preparing a Will doesn’t have to be daunting. In fact, it can bring huge peace of mind knowing that your loved ones are protected and your wishes respected.
It’s a simple step that fits neatly alongside other parts of your financial plan. And the sooner you do it, the sooner you can stop worrying and get back to living.
Ready to start?
Book a consultation to align your Will with your broader financial plan. Our financial advisors will assess your position, answer your questions, and provide a structured action plan for protection and inheritance tax planning. We’ve provided this downloadable Will instruction form to make it easier for you to get started.
