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After Death - How does the Will Work

  • 12-02-2008 11:00pm
    #1
    grungefreak1
    Registered Users Posts: 43 ✭


    Hi,

    My mother made a will a few years ago and I (her son) and the executor. There are a few of us in the family and everything is split evenly including the family home.

    My question is, do the solicitors who hold the will try to get some of the estate for themselves? Or do we pay tax on any inheritance that was willed to us i.e. money, our share of the sale of the house etc?

    Thanks

    GF


Comments

  • #2
    dats_right
    Registered Users, Registered Users 2 Posts: 1,169 ✭✭✭dats_right


    1. The solicitor will not charge unless you instruct them to administer the estate, you don't have to of course, this is a matter for you.

    2. You are entitled, as executor, to have the will released to you. You must then extract a grant of probate and administer the estate according to the terms thereof. (More usual for solicitor to do it, but not impossible for layman to do it. Many forms to fill-out, such as inland revenue afidavit, oath of executor, obtain valuations etc.) Then if you are keeping family home, after grant has been extracted, you will have to have property transferred into your names via deeds of assent then register with land registry or registry of deeds depending on the type of title involved.

    3. Re Inheritance tax properly known as CAT you will need to visit www.revenue.ie and thoroughly familiarise yourself with rules. As a general guide a child can receive about €500,000 from a parent tax free, but previous gifts from parent are taken into account so any previous gifts will reduce this accordingly.


  • #3
    pjimjim
    Closed Accounts Posts: 2 ✭pjimjim


    I am a beneficiary of my brothers will but my other brother who is the executor is refusing to show me the will. I just want to see it to make sure all is in order because my brother already tried to cheat me out of inheritance before. Does anyone know if I have a legal right to see the will before it is proven?? Also there was no reading of the will to the beneficiaries, is this legal? Thanks in advance


  • #4
    mukki
    Closed Accounts Posts: 2,669 ✭✭✭mukki


    ahhhh money


    it really brings out the best in people


  • #5
    hullaballoo
    Administrators, Entertainment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 18,750 Admin ✭✭✭✭✭hullaballoo


    Contact your solicitors.

    No legal advice.

    Please read the forum charter and stickies before posting again.


This discussion has been closed.
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