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GAZETTE
APRIL 1983
Practice Note
Proceeds of Life Assurance
Policies
It happens not infrequently that Solicitors acting for
personal representatives are called upon to give personal
undertakings on behalf of beneficiaries who are expecting
benefits from estates in course of administration. The sub-
ject of such benefits can include the proceeds of assurance
policies payable on the deceased's death or out of which it
is intended that benefits such as legacies should be
financed.
The Society has learned that certain Life Assurance
companies are insisting on paying the proceeds of policies
direct to the personal representatives, rather than to the
solicitor, notwithstanding that the solicitor is on record
with the Comp a ny and may even have éxhibited the Grant
of Representation and applied for the payment.
The attention of practitioners is drawn to the desir-
ability, before giving any personal undertaking relating to
or depending upon the proceeds of any life policy, of
obtaining a clear and irrevocable authority from personal
representatives authorising Life Assurance companies to
pay policy proceeds direct to the solicitor concerned, in
order to avoid the solicitor being left in circumstances in
which he is unble to perform such an undertaking. •
For your Diary . . .
2 9 Au g u st - 2 S e p t emb e r, 1 9 83 Association Inter-
nationale des Jeunes Avocats. Annual Congress, Helsinki.
Further details can be obtained from Michael W.
Corrigan, Solicitor, 61 Fitzwilliam Sq., Dublin 2. A l so
see note on p. 75.
L AW C L E R KS C O U R S E
He l d in the College of Comme r ce in
conjunction with the Law Society
This is a one year part-time course for law clerks who are already
working in offices. The subjects covered are Conveyancing, Civil
Litigation, Company Law and Probate. The next course will
commence in October 1983 and lectures take place on
Wednesday afternoons and Thursday evenings.
Application forms may be obtained from the College of
Commerce Rathmines.
Enquiries concerning the course should be made to the College of
Commerce or Jean Sheppard, in the Law Society, Blackhall
Place.
Irish Life
BuildingSociety
HEAD OFFICE IRISH LIFE CENTRE. LOWER ABBEY STREET DUBLIN 1 TEL 72405S
BRANCHES CORK. GALWAY. KILKENNY. PHIBSBORO. DUN LAOGHAIRE. ILACCENTRE DUNDRUM
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Telephone
766176
Registered Office (Reg.
No. 29305) 3 FitzwilliamPlace, Dublin 2.
73
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