Only 30% in Ireland have put a will in place

Making a will is important in farm succession planning

If a child works in the business, such as a farming business, and you have promised that child the business, in time, it is critical that you put a will in place that reflects your wishes.Picture: iStock

As Benjamin Franklin, one of the founding fathers of the United States said: “In this world, nothing is certain except death and taxes”.

Hence the importance of a will, a document that sets out a person’s instructions on how they wish their assets and belongings to be distributed upon their death.