For Example
"I, Joe Bloggs of 1 Main Street, Killarney, Co. Kerry hereby revoke all previous Wills and other testamentary dispositions heretofore made by me and I declare this to be my last Will. Should my wife, Mary Bloggs survive me for a period of thirty days, then and in that event, I GIVE DEVISE AND BEQUEATH all my property of every nature and description to her and I appoint her as sole Executrix of this my Will. If my wife should not survive me as aforesaid, then and in that event I direct that the following provisions shall have effect: -
1. I APPOINT John Doe and Jane Doe of 1 High Street, Killarney, Co. Kerry (hereinafter called "my Trustees") as Executors of this my Will and I also appoint them as Trustees for the purpose of the Settled Land Acts, Conveyancing Acts and Section 57 of the Succession Act 1965.
2. I GIVE DEVISE AND BEQUEATH all my property of every nature and description to my Trustees upon trust to call in and convert same into money at such time or times and in such manner as they shall think fit, in trust for my children, Mary, Pat and Gemma and such other child or children of mine as may be alive at the time of my death, until my youngest child has attained the age of twenty-one years and then to my said children in equal shares.
3. I DIRECT that the power to apply income and to accumulate surplus income during minority, conferred by Section 43 of the Conveyancing Act, 1881, as amended, may be exercised by my Trustees in their absolute discretion.
4. I DIRECT that any advancements (as defined in Section 63 of the Succession Act, 1965) made by my Trustees, be it to all or any of my children, shall be taken as being made in or towards satisfaction of the share of such child in accordance with Section 63 (1) of the Succession Act, 1965.
5. Notwithstanding the provisions of Part One of the Trustees Act, 1893, as amended, money liable to be invested under this my Will may be invested or applied in the purchase of or on interest upon the security of such stocks, funds, securities and such other property of whatever nature and description as my Trustees in their absolute discretion shall think fit and to the intent that my Trustees shall have the powers in all respects as if they were the absolute owners beneficially entitled to the same.
6. I APPOINT my Trustees as Testamentary Guardians (in accordance with Section 7 of the Guardianship of Infants Act, 1964) of my children Mary, Pat and Gemma , and such other child or children of mine as may be alive at the time of my death.
Dated this
Signed etc."
Essentially, the trustees are put in the same place as the parents in dealing with children. The are given extensive powers to deal with assets, which must be used at all times in the best interests of the children. The will can be tailored to the individual needs of each family.
Many people agonise about selecting the trustees - primarily because they are reluctant to tell them of the burden placed upon them. The following should be borne in mind:
  • Every married couple has the same dilemma.
  • The probability of the event arising is extremely low, but the consequence of it happening are catastrophic.
  • It is far better to appoint trustees and tell them afterwards, then to postpone the making of the will indefinitely until they are told.
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