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Probate on a house where no will is left. What happens?

  • 26-06-2011 8:25pm
    #1
    tjc28
    Registered Users, Registered Users 2 Posts: 294 ✭✭


    Hi,
    I'm posting this question for my Gran and I'm hoping someone can advise.
    My Grans brother was been taken into a home a few years back after he had some health problems (stroke and broken hip) and is still there today. His mental state is good, i.e. he still has all his smarts but since going in he has suffered with depression. He never married and lived a very independent life pretty much doing his own thing till he was took ill. He has never made a will and my Gran is afraid to broach the subject with him as he already suffers with depression and she fears bringing up it up will get him thinking the wrong way about the subject and her.
    My question is what will happen to his house if/when he passes on? Her worry is the government will take it through probate. She worries as the house is the home she and her family were raised in and my uncle as he never married just took it over after their parents died.
    As far as i'm aware he did buy it himself at some point.
    Any advise/help is much appreciated.


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,498 ✭✭✭✭coylemj


    If he dies intestate (i.e. leaving no will) then his estate will be distributed according to the rules set out in the Succession Act 1965. Having no wife or children he would be free to make a will and leave the house to anyone he chooses.

    If your gran is/was his only sibling (living or dead) then if she survives him and he dies intestate, she as his next of kin would inherit his entire estate. If there are other siblings then they would share the estate and children of deceased siblings would inherit their parents share.

    If the man dies leaving no surviving siblings then his estate would be divided equally between his surviving nieces and nephews.


  • #3
    grumpytrousers
    Registered Users, Registered Users 2 Posts: 1,884 ✭✭✭grumpytrousers


    also worth pointing out to your Gran, as an aside, that if she ends up with the house, there could well be a tax liability on it. You can inherit a shedload from a parent without any tax worries. You can only inherit 1/10 of a shedload from a brother/sister.

    If there are other siblings, then the tax will be reduced, but so will her stake in the place.


  • #4
    coylemj
    Registered Users, Registered Users 2 Posts: 25,498 ✭✭✭✭coylemj


    grumpytrousers wrote: »
    also worth pointing out to your Gran, as an aside, that if she ends up with the house, there could well be a tax liability on it. You can inherit a shedload from a parent without any tax worries. You can only inherit 1/10 of a shedload from a brother/sister.

    If there are other siblings, then the tax will be reduced, but so will her stake in the place.

    Correct, the current exemption threshold for a brother/sister/niece/nephew is only €33,208 so the gran would be liable to pay Capital Acquisition Tax (CAT) on the balance, currently 25%.

    http://www.revenue.ie/en/tax/cat/thresholds.html


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