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GAZETTE
JULY/AUGUS
T
1982
Where There's a Will . . .
(Continued from p. 169)
for will-making, the solicitor's fee will not come
anywhere near the premium for an administration
bond in the average intestate estate. Premiums for
bonds must now range between £50 — £100 in the
majority of cases. Suspecting that claims under such
bonds were rare, the Law Society enquired from the
Federation of Insurers of Ireland about the level of
claims brought under such bonds, to be met with the
reply that the companies did not keep records in a
form which enabled such information to be
extracted! The suspicion grows that these bonds may
provide a lucrative source of income to insurance
companies, with little risk.
Even if such premiums were reduced substan-
tially, or the requirement for an administration bond
abolished entirely, it would not affect the basic
proposition that everybody who has dependants and
who has sufficient assets to require a grant of
representation in order to establish the title of the
personal representative to deal with these assets,
should make a will. It is as much an obligation to
one's family as arranging for their housing or
education. Failure to make a will may lead to insur-
mountable difficulties for the survivor. The size of
the problem is so substantial that a major push is
clearly required to persuade would-be defaulters to
mend their ways and make their wills, but it is a
campaign which will require to be continuously
pressed, most noteably by members of the profession,
at every suitable opportunity. •
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In addition to private companies limited by
shares, the service will also form:
[ 1 Unlimited companies.
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books are available at competitive rates.
l
ull information is available f r om:
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