Most people know they should make a will. Far fewer have actually done it — surveys regularly find that a majority of Irish adults don’t have one, often because the subject feels morbid, complicated, or like something for “later.” Retirement is, in practice, exactly the right moment to sort it out, once and for all.

Dying without a will means the State decides, not you

If you die without a valid will — known as dying “intestate” — your estate is distributed according to fixed rules under the Succession Act 1965, not according to your own wishes. A spouse or civil partner doesn’t automatically inherit everything if there are children; the estate is split between them in fixed shares. If that’s not how you’d choose to divide things, a will is the only way to change it.

A solicitor isn’t legally required, but it’s usually worth it

You can write a valid will yourself provided it meets certain legal formalities — it must be in writing, signed, and witnessed correctly by two people who aren’t beneficiaries. In practice, a solicitor is worth the modest cost for most people, because they’ll catch the kind of technical errors (an invalid witness, ambiguous wording) that can otherwise cause real disputes or even invalidate the will entirely after you’re gone.

Inheritance tax depends on the relationship, not just the amount

Capital Acquisitions Tax (CAT) is charged on gifts and inheritances above certain thresholds, and the threshold depends on how closely related the recipient is to you:

  • Group A — from a parent to a child: currently €400,000 tax-free.
  • Group B — between siblings, or to a grandchild, niece or nephew: currently €40,000 tax-free.
  • Group C — everyone else, including more distant relatives and friends: currently €20,000 tax-free.

Anything above the relevant threshold is taxed at 33%. These thresholds are cumulative over a lifetime, not per gift, so several smaller gifts to the same person can add up. Transfers between spouses or civil partners are exempt entirely, and there’s a separate small gift exemption of €3,000 per person, per year, that doesn’t count towards the lifetime threshold at all.

Living gifts are worth considering, not just inheritance

Giving during your lifetime — help with a grandchild’s deposit, for example — uses the same thresholds and exemptions as inheritance, but lets you see the benefit of the gift and, done early and spread out using the €3,000 annual exemption, can reduce the eventual tax bill on a larger inheritance later. It’s worth discussing with a solicitor or financial advisor before making any large gift, since the right approach depends on your own circumstances.

Where to start

  • Write down what you actually own — property, savings, investments, pensions with a death benefit — most people underestimate this until they list it.
  • Decide who you want to inherit what, and don’t assume the default legal position matches your wishes.
  • Choose an executor — the person who administers the estate — and ask them first rather than naming them as a surprise.
  • Talk to a solicitor about drawing up or updating a will; costs vary, so it’s worth asking for a quote upfront.
  • Review your will after any major life change — a death, a marriage, a new grandchild, or a significant change in what you own.

This is general information, not legal or financial advice tailored to your situation — for anything beyond the basics, a solicitor experienced in probate and a financial advisor are the right people to talk to. Our guide to Ireland’s State Pension covers the income side of retirement finances if that’s the next thing on your list.