New Year resolutions!

a few Legal thoughts for 2024

With the New Year usually comes new plans and resolutions or, in some cases, dusting off last year’s resolutions.

While this is ‘just’ another year, it might provide the time and resolve to follow through on our dusty resolutions and maybe make new ones.

One positive thing that has come out of that global crisis is our collective resilience and our determination to continue to undertake work and live in the most challenging environment.

Lynch Solicitors, as a modern, technology-based, and paperless office, can now undertake meetings online, exchange documents, and do all this from any location.

We see the new phase in a technology-driven world for Law Firms.

Here are a few legal resolutions to ponder.

FAMILY MATTERS

Divorce now has a shorter two-year waiting period.

Whatever the reason, if you decide to go your separate ways, it takes less time to make it legal.

A Court will allow these two years for couples who continue to live under one roof to live separately and apart – i.e. if they do not live together as a couple in an intimate and committed relationship.

A Few More Family Resolutions

• If you are an unmarried father, Regularise your status on guardianship.
• If you are living with someone in a committed relationship, put a Cohabitation Agreement in place.
• Make a will if you are in a blended family, separated or cohabiting.

Are you getting married in 2024?

We have seen a growth in pre-nuptial agreements sought by farming and other asset-based business families.

It is important to remember that courts are not bound to give pre-nuptial agreements full effect. If the Court considers that the agreement does not make adequate provision for a spouse or dependent, the Court may vary the agreement.

However, if a pre-nuptial agreement is fair, there is every chance that it will be honored by the parties and considered favorably by the Court.

MEDICAL NEGLIGENCE / Personal Injuries / Accidents

The New Year can also see an increase in people enquiring about medical negligence and other litigation cases.

What’s important to remember if you are to succeed in a claim is that you must show both negligence and causation.

In other words, you have to show that there is a duty of care, that there has been a breach of that duty, and that such breach caused the situation that gave rise to your injuries.

A Few More

• Statute of Limitation – ensure you don’t run out of time to take a case.
• Review the defendant’s solvency – make sure that the person you are taking the case against will be able to pay.
• A New Year is always a good time to see how your case is progressing.

Succession

It is hard to talk about New Year’s Resolutions without discussing Wills.

Some of the reasons (but not all) for making one are:

• Getting married – marriage revokes previous Wills.
• Getting divorced or separated.
• Buying a house.
• Inheriting property or cash.
• Settling a litigation claim.
• Acquiring assets – home, gift, inheritance.
• Having children.
• Retiring, getting older, or suffering illness or the risk of illness.

Making a Will is not a once-off exercise. You should regularly review your Will.

Remember that making a Will is only one of the things you should consider. It is an opportune time to get your succession affairs in order. This may involve assessing the tax implications of retiring from your working life and future case needs.

Enduring Power of Attorney – A Living Will

This is an example of “you can’t have one without the other.” If you make a Will, you should also have an Enduring Power of Attorney.

As we grow older, we risk losing the ability to manage our affairs without help.

This is where an Enduring Power of Attorney comes into play – you nominate people to handle your personal or financial affairs if you lose the ability to do so.

A Few Reasons to Do It

• We live longer.
• If there is a history of illness in the family.
• If there is longevity in the family.
• As a precaution.

Regularise the position with your business.

Now is an excellent time to look at how we do business.

A Few Possibilities

• Make a Succession Plan.
• Form a Limited Company.
• Draw up a shareholder’s agreement.
• Draw up a Partnership Agreement.

Property Transactions

We saw an increase in property transactions in 2023. As we start another year, the indications and predictions are positive on the home front.

A Few Suggestions

• If you own property with someone else, consider a Co-ownership Agreement.
• If you are married and own property in your sole name, you should consider the benefits of a Transfer into Joint Names.
• If you Build a house, use a building contract.
• If you have a farm or business plan for retirement, take advantage of the tax exemptions.

Afterthought

In conclusion, as we embark on another year, we should pause and set aside some time to reflect on matters that we might otherwise neglect in the hustle and bustle of ‘normal’ life.

We thank our clients for their continuing support and extend our heartfelt wishes to all our clients for a Happy and Healthy New Year.

For further advice or if you wish to discuss any other legal area please contact reception@lynchsolicitors.ie or telephone 052-6124344.

The material contained in this blog is provided for general information purposes only and does not amount to legal or other professional advice. While every care has been taken in the preparation of the information, we advise you to seek specific advice from us about any legal decision or course of action.