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Unusual Inheritance Tax query

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  • 28-01-2008 11:08pm
    #1
    Ordinary Joe
    Registered Users Posts: 23 ✭


    Hi,
    Does anybody have any idea what is the correct way to Return income generated by an estate after the Probate date but before the inheritance amounts are distributed ?

    i.e. The estate probated (and requred Inheritance Tax paid) in 2005 but one of the insurance companies delayed payment to the estate as they did some investigation into the death. They finally paid out in late 2007, the solicitor did not distribute the inheritance in the interim pending this final payment. In the interim, the house which was part of the estate was rented out. This income is additional to the amount which was probated. How should it be taxed?. The solicitor sems to have no idea.

    Thanks
    OJ


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    #2
    UrbanFox
    Registered Users Posts: 472 ✭✭UrbanFox


    That is just not good enough as a service from a solicitor. They can dither a bit in probate matters.

    Tell your solicitor in no uncertain terms that you want the matter sorted pronto or you may instruct someone else to take over the matter. This will produce a snotty response and a big bill or some action.

    If the title of the house has yet to be conveyed to a beneficiary there might be a whiff of getting the conveyancing work (such as it might be) also so you might dangle a reminder about this in front of him/her.

    Apart from the above I think that you should contact Revenue yourself so that you are clear as to what you are talking about before tackling the solicitor.


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