The Gazette 1983

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.

Monthly Income share. Have your interest paid to you by cheque every month. Interest which is V2% over the ordinary savings share rate! A chance to win £100,000 every month. A Prize Bond number is allocated to each Monthly

Join us at the Irish Life Building Society! Together we can make things happen!

Income Share account holder. So, in addition to earning top interest, you've a chance to win in every Prize Bond Draw while your account remains open.

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

AT THIS PROFESSIONA L LI BILITY INSURANCE PROTECTION! Far Minfens * UN I k m f m M Ljw Satty if Inks'

I U A leads the way — • Write or telephone now for full details of special facilities available for the solicitor COMMENC I NG AS A PRINCIPAL

COMBINED LIABILITIE S INSURANC E For Members f the Incorporate d Lj W Society ol Ireland

E F F E C T ED T H R O U GH IRISH UNDERWRITIN G AGENCIES LTD. Telephone 766176 Registered Office (Reg. No. 29305) 3 FitzwilliamPlace, Dublin 2.

73