Page 225 - Guerin Media Ltd | Active Retirement Ireland Members Annual 2016
P. 225
LEGACY TAKE A BOW
ONLY THREE IN TEN IRISH PEOPLE HAVE DRAFTED A WILL
AND 50% HAVE MADE NO PREPARATIONS FOR DEATH
Research commissioned by My Legacy and carried out by
Amárach in September 2015 revealed to that only three in
every ten Irish people have drafted a will in preparation for
their death. Death is rarely a straightforward business and
preparing for the future by getting important affairs in
order gives peace of mind. It also provides certainty for loved
ones around important issues such as deciding upon a burial
versus cremation, considering an enduring power of attorney
or organising finances. As part of this preparation, engaging
with a local solicitor on drafting or updating a will is vital. The
research found that over a quarter of those surveyed have
benefited from a will but despite this, only 50% of Irish people
have engaged with any of the practicalities around preparing
for their own death, from making a will to discussing their
wishes with family.
When a person in Ireland dies without a will, their estate is
divided among family members on the basis of rules laid down
in the Succession Act 1965. If no beneficiaries can be found,
the person’s estate, including property and savings, revert to
the State’s intestate funds deposit account.
Preparation for death is more prevalent with males than
females and is of more concern to parents1. The most
surprising revelation from the research may be that only a
quarter have discussed their wishes with their family with a
large majority leaving their legacy completely uncertain1. Will
preparation is most popular with the over 55’s demographic
with 57% having already drafted their will1. The younger
demographic are not yet engaging the process with two thirds
of those aged 25 – 34 not yet doing anything to prepare for
their death, including drafting a will1. Only a fifth of 35 – 44
year olds have prepared their wills which is surprising when
this is considered the time in people’s lives when they buy a
property or have children.
Ireland ranked as the 4th most generous country in the world
in the 2014 World Giving Index However, the research
revealed that only 12% of Irish people plan to leave money
to a charity. Interestingly, 18 – 24 year olds have the highest
intentions of leaving money to charity.
References
1. Amarach September Omnibus 2015 conducted on behalf of Edelman. Based
on 1000 adults aged 18 and over.
Reference Code – S15 – 227
2. https://www.cafonline.org/about-us/publications/2014-publications/
world-giving-index-2014
www.activeirl.ie Active Retirement Ireland 225
ONLY THREE IN TEN IRISH PEOPLE HAVE DRAFTED A WILL
AND 50% HAVE MADE NO PREPARATIONS FOR DEATH
Research commissioned by My Legacy and carried out by
Amárach in September 2015 revealed to that only three in
every ten Irish people have drafted a will in preparation for
their death. Death is rarely a straightforward business and
preparing for the future by getting important affairs in
order gives peace of mind. It also provides certainty for loved
ones around important issues such as deciding upon a burial
versus cremation, considering an enduring power of attorney
or organising finances. As part of this preparation, engaging
with a local solicitor on drafting or updating a will is vital. The
research found that over a quarter of those surveyed have
benefited from a will but despite this, only 50% of Irish people
have engaged with any of the practicalities around preparing
for their own death, from making a will to discussing their
wishes with family.
When a person in Ireland dies without a will, their estate is
divided among family members on the basis of rules laid down
in the Succession Act 1965. If no beneficiaries can be found,
the person’s estate, including property and savings, revert to
the State’s intestate funds deposit account.
Preparation for death is more prevalent with males than
females and is of more concern to parents1. The most
surprising revelation from the research may be that only a
quarter have discussed their wishes with their family with a
large majority leaving their legacy completely uncertain1. Will
preparation is most popular with the over 55’s demographic
with 57% having already drafted their will1. The younger
demographic are not yet engaging the process with two thirds
of those aged 25 – 34 not yet doing anything to prepare for
their death, including drafting a will1. Only a fifth of 35 – 44
year olds have prepared their wills which is surprising when
this is considered the time in people’s lives when they buy a
property or have children.
Ireland ranked as the 4th most generous country in the world
in the 2014 World Giving Index However, the research
revealed that only 12% of Irish people plan to leave money
to a charity. Interestingly, 18 – 24 year olds have the highest
intentions of leaving money to charity.
References
1. Amarach September Omnibus 2015 conducted on behalf of Edelman. Based
on 1000 adults aged 18 and over.
Reference Code – S15 – 227
2. https://www.cafonline.org/about-us/publications/2014-publications/
world-giving-index-2014
www.activeirl.ie Active Retirement Ireland 225
