Making a will can prevent family feuds

Almost one in three people in Ireland die without leaving a will. This often compounds the tragedy for those left behind and events can enter the realm of soap opera when the family begins to feud over remaining assets. Making a will ensures your wishes are known.

When an estate is left intestate, or without a will, the deceased's next of kin is required to apply for a letter of administration. This allows the Succession Act of 1965 to be applied and the estate distributed to surviving relatives along specific lines.

If both a spouse and children survive, two-thirds goes to the spouse and one-third is divided equally among the children. However, minors' share must be placed in a separate account which is administered by a legal guardian. If a spouse alone survives he or she receives everything.

When children outlive both parents the entire estate is divided in equal shares between them and children of a deceased child receive their parents' share. If neither spouse nor children survive but parents, brother and sisters do, then the parents receive the assets.

On the occasion that siblings only survive, the estate is divided equally among them and children of a deceased sibling get their parents' share. Nieces and nephews as sole survivors get equal shares.

Increasingly, couples are putting property in both names. In this situation, the property automatically passes to the surviving spouse even without a will.

If the Succession Act divisions are not according to your wishes, or the needs of your spouse, it is advisable to set up a will as quickly as possible. The spouse is the one most affected if the succession rules are applied.

If for example, a child needs to encash their share of the estate and the funds are not to hand then the family home is usually sold. This adds the loss of familiar surroundings to an already emotional situation.

Making a will is an easy and relatively inexpensive process. In the majority of cases it costs between £60 to £100. In a typical will everything is left to the surviving spouse and they are also made executor of the will. When the surviving spouse dies the will may dictate that the children receive the estate and an executor is named. If the children are minors a person is appointed guardian according to the wishes of the will.

The four Irish banks have an estimated £2 million (€2.5 million) in dormant bank accounts, or those inactive accounts estimated to be 25 years or more old. This underpins the importance of making a will. These accounts can be claimed by surviving relatives if a will exists because it proves their claim on the account.

Many charities are now encouraging those setting up a will to specify a small donation to their organisation. In July, a Sligo woman left £273,000 to the local ISPCA.

For a free booklet on making a will, call the Irish Cancer Society at 1850 606060.