Unit 10

The learner will understand the two sides to inheritance

This means that the learner will understand the concept of being a beneficiary (person who receives items in a Will) or a benefactor (a person who leaves something to someone else in their Will).

Definition of inheritance is: to receive money or property as an heir, at the death of another person. This is usually a family member e.g. a parent, sibling, aunt or uncle but does not have to be a family member.

Ask the learners to list items they value i.e. money, property or jewellery and consider what will happen to these things after they die. Would they like someone else to have these after their demise?

Learner will be able to understand what a Will is

Definition of a Will:
A Will is a witnessed document in which a person over 18 years of age specifies how they would like their estate to be managed and shared out after their death.

Definition of Estate:
The whole of someone’s possessions, property and money, especially the property of someone who is dead.

For the purpose of this objective we will describe a Will as a letter that someone writes in the company of an advocate or somebody whom they trust (it is best if this is done through a solicitor). This letter outlines what they would like to happen to their valuables after their death and identifies the person or people (executor/s) that they would like to carry out their wishes as stated in their Will.

Ask the learners to navigate their way to Activity 10.2 to view a Sample Will and discuss it.

Learner will understand their rights associated with inheritance; why they might need to make a Will and what happens if there is no Will.

It is very important for everyone to make a Will so that it is absolutely clear what the person’s wishes are after their death. If a person doesn’t make a Will, they have no say in who gets their things after their death.

People over 18 are entitled to make a Will. It is vital that they fully understand what they are doing and that they are acting on their own free will. They must have 2 witnesses to the Will.

If a person is not happy about how they are treated in the Will of a family member they can go to a solicitor to see if they received their fair share of the estate. There is a special law that covers this type of issue and it is called the Succession Act 1965. This law is also used when a person has died without making a Will.

Visit Irish Statue Book

Learner will know what to do if they wish to make a Will

The best and safest way to make a Will is to make an appointment with a solicitor and discuss one’s wishes; this is a good way to ensure that all the rules for making a valid Will are being kept.

See page 3 on FLAC Leaflet

There are many difficult terms used when discussing Wills. Briefly discuss the list below with the group.

Administrator - A person appointed when either no Will can be found or there is no executor to carry out the intentions of the Will.

Letters of Administration - Granted by the high court to administrators to give them the authority they need to act and to administer/distribute the estate where there is no Will.

Assets - Generally everything that you own.

Beneficiary - Someone who will inherit from the Will, a trust or under the intestacy laws.

Bequest - A gift left in a Will.

Chargeable gift - A gift on which Inheritance Tax may be payable.

Codicil - A document executed by a testator subsequent to the Will that alters, cancels or adds to the provisions of the previously drafted Will. Codicils can adversely affect a Will. It is therefore more common to re-write the whole Will.

Confirmation of the Estate (Scotland) - The document that confirms to executors that they have authority to act, and which validates the Will.

Devise - A gift by Will of freehold property.

Disbursement - A payment made to a third party.

Executor - A person appointed in the Will to administer the estate.

Guardian - Someone appointed to look after the interests of a child under the age of 18.

Inheritance tax - Tax payable on the transfer of assets either during an individual's lifetime (within the last 7 years) or following their death.

To end the programme, ask the group to offer any pieces of information they remember from the programme and record them on the flipchart. Give a brief recap on the units throughout the programme and fill in any points they may have missed in their recap.

Ask the group to navigate their way to the Videos & Games section and invite them to play and replay any aspect of the programme they wish.

Remind the group to talk to an advocate or someone they trust should they need help in seeking advice on any issues they may have relating to money.

Remind the group that they will be able to access the programme at any stage themselves and play and replay the videos and games as they wish.