List of assets/Will

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paddyodoors

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Hi all

was just wondering in the absence of an official will - what would happen to all the various investments/bank accounts in the even of Death. My wife would only have a vague idea of whats around, but defo no idea on policy numbers or certs etc

Would assume a central log of all assets would be very usefull, or is there a way doing an official will without the hassle of a solicitor (I know Smiths in the UK sell predefined legal forms for this and tenancy agreements etc to DIY)

How does everyone else manage this?
 
My wife would only have a vague idea of whats around, but defo no idea on policy numbers or certs etc

Would assume a central log of all assets would be very usefull, or is there a way doing an official will without the hassle of a solicitor
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Well why don't you do up your own list of policy numbers etc. now and tell her where you're going to keep the list?

You can do your own valid will here, but as I pointed out here you would be well advised to spend €50 on getting your solicitor to do it for you.

Worst case scenario, the solicitor doing the probate can eventually manage to track down most stuff, however there are many cases every year where old policies etc. and bank accounts revert to the government due to no one but the deceased knowing of their existence.
 
A colleague of mine used to keep sensitive information (in particular credentials and passwords for various systems) written down and lodged with his bank for safekeeping. A similar approach could be taken in your situation and then the relevant parties informed about the existence of this record (e.g. noted in the will or whatever).
 
If you don't make a will you assests with be split 1/3 to your wife and 2/3 between your children (if any) This is not ideal particularly if your children are under 18. Spend the few euro and go to a solicitor to get proper wills drafted for both of you
 
is it not the other way around, 2/3 to your spouse and 1/3 between the children where there is no will.
 
No need to go to a solicitor. You should download a personal affairs checklist form from the Institute of Chartered Accountants in Ireland web site: http://www.icai.ie/documents/Personal%20Affairs.pdf

Then fill in all your assets and give it to the executor of your will and the will’s beneficiaries. You can update the form as your assets change.
 
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