A new legal landscape - what’s changing

Supporting solicitors through wardship exits & Court‑awarded funds management

Specialist financial planning for vulnerable clients & their families

A new legal landscape - what’s changing?

Ireland is experiencing major reform of capacity law, the most significant in decades.

The Assisted Decision‑Making (Capacity) Act 2015, fully commenced in April 2023, has made the following changes:

Abolished adult wardship, no new adult wards can be created.
Required all existing adult wards to exit by 26 April 2026.
Introduced a three‑tier system of supported decision‑making supervised by the Office of Decision Support Services (ODSS) - i) Decision-Making Assistant (DMA) ii) Co‑Decision Maker (CDM) iii) Decision‑Making Representative (DMR)

For many families, this means that investment decisions once made by the High Court are now their responsibility.

The challenge for solicitors & families

Families exiting wardship often face:

Large compensation funds with no prior experience managing them.
Complex lifetime care needs, often spanning decades.
A legal requirement that a DMR must demonstrate financial capability and access to professional support.
Investment structures that may qualify for favourable tax treatment, subject to appliable legislation (TCA 1997 s.189 and related sections) and in accordance with individual circumstances.
A need for professionlly structured financial plans capable of supporting Court or ODSS processes.

Solicitors are now central to guiding families through this transition, but the financial planning burden is significant.

How ifac support solicitors & their clients

We provide a specialist, financial planning and investment advisory support designed specifically for Court‑awarded funds, vulnerable clients, and families exiting wardship, working alongside solicitors.

1. Court ready financial plans

We prepare clear, evidence‑based reports that address:

Long‑term sustainability of funds
Required investment returns
Inflation and care‑cost modelling
Governance and oversight structures
Tax‑exempt investment treatment
Risk mitigation (e.g., life cover for carers)

These reports are prepared in a structured format that may assist solicitors in preparing documentation for Court, ODSS processes, including applications.

2. Investment strategy built for lifetime care

Using a bucket strategy, we structure funds to balance:

Liquidity for immediate needs
Stability for medium‑term spending
Growth to sustain funds over decades

This approach aligns with best practice highlighted in current legal and financial commentary.

3. Support for decision‑making representatives (DMRs)

We support solicitors by providing financial analysis and documentation to demonstrate that the proposed DMR has:

Access to appropriate financial expertise
A clear investment and governance framework
A sustainable plan for managing the individual’s estate

This is designed to assist solicitors in addressing the requirements of section 38(6) of the 2015 Act.

4. Ongoing oversight & reporting

We provide:

Annual reviews
Updated projections
Rebalancing and risk management
Clear reporting for families, solicitors, and the court

This is intended to support ongoing monitoring of the plan inline with the client’s needs, statutory and regulatory obligations.

Why solicitors work with ifac

When a client receives a Court-awarded settlement, the financial decisions that follow are among the most consequential they'll ever face. Ifac works alongside solicitors to make those decisions simpler, safer, and fully defensible.

We provide:

Experience with Court‑awarded funds and permanently incapacitated clients
Expertise in tax‑exempt investment structures
Ability to translate complex financial modelling into clear, Court‑ready documentation
A practical, empathetic approach for families under pressure
A governance framework that reduces risk for both the family and the solicitor

Helping you protect your clients, and their future

The end of wardship places new responsibilities on families and their legal advisers. We provide the specialist financial planning required to ensure that compensation awards are managed in a structured and transparent manner and positioned to the fund care needs over the long term, subject to market conditions and individual circumstances.

If you would like a sample report, a CPD session for your firm/local Bar Association or support with a current case, we’re here to help.

Talk to Martin Glennon

Head of Financial Planning01 4277400 martinglennon@ifac.ie Linkedin