If making a will in 2021, there are things to consider that we didn’t have to many years ago. There are many principles, however, that remain the same. Here are some of the questions we are frequently asked.
We have seen an increase in enquiries in recent months from people wishing to make their Will and asking about Enduring Power of Attorney and Advance Healthcare Directives. There is some confusion about the scope of each of these and this post aims to give clarity on when they should be considered.
My Legacy is an umbrella group of 70 Irish charities asking people to remember a charity they care about in their will, once all other important personal decisions have been made.
As part of the process of making your will with John A Sinnott Solicitors, we ask you to make a list of everything you own i.e. your assets. So, for example, your house, your car, money in the bank etc. But many people forget about their online assets. You should consider this important element of your life.
A recent report carried out by PricewaterhouseCooper revealed that Irish Family Firms are putting themselves at risk by not having formal succession plans in place.
29th October – 4th November
We are delighted once again, to participate in ‘My Legacy Week’ from 30th October to 4th November. My Legacy is an umbrella group of over 50 Irish charities who work together to highlight the importance of having a will and asks people to remember a charity they care about, once all other important personal decisions have been made.
A recent survey by Royal London has found that 70% of Irish People have no will.
My Legacy was established in 2003 by a small group of Irish charities who wished to spread the word about charitable bequests. The organisation now represents over 60 leading Irish charities and not-for-profit organisations.
Since Budget 2017 was announced, higher amounts can now be inherited tax free.
The average life expectancy in Ireland today is 80.9 years. Fifty years ago, average life expectancy was over ten years less than that, at 70.6 years.
We came across a recent survey that showed that:
Capital Acquisitions Tax is payable if you receive a gift or inheritance, the value of which exceeds your lifetime’s tax-free threshold.
January is a time when we often commit to carrying out little acts of self-improvement in order to feel more fulfilled or to improve an aspect of our lifestyle.
We are delighted to work with ‘My Legacy’ which is a coalition of almost 80 Irish charities working together to promote the power of legacy giving. ‘My Legacy’ highlights the fact that leaving a gift in a Will to a charity is a simple and fulfilling experience that anyone can do. Ireland lags greatly behind the UK in what charities earn from legacies, with only 6% of income coming from legacies, compared to 40% in the UK.