Irish urged to plan for their future!

Research

The Law Society of Ireland has published some interesting research results. According to the research commissioned by Safeguarding Ireland (of which the Law Society of Ireland is a member) almost half of all adults in Ireland have not take any estate planning steps. This is particularly the case for younger people (in the 18 years old to 44 years old bracket), lower social classes and for women.

The research disclosed as follows:-

• Only 27% of Irish adults have made Wills compared with 39% in the UK
• Only 6% of adults have put in place Enduring Powers of Attorney

Conclusion

The results of the research clearly show that the majority of Irish adults have not prepared for how they wish their estates to be dealt with upon their death. It is also clear that the vast majority of Irish adults have not taken steps to safeguard their wellbeing due to loss of mental capacity.

As we start into a New Year it is a great time for people to focus on their intentions on both of these areas and to take action for their families and businesses.

If you would like any advice on any of the issues raised in this article then please feel free to contact Brendan Sharkey at bsharkey@reddycharlton.ie or Andrew Thorne at athorne@reddycharlton.ie