Appropriation by Personal Representative and Stamp Duty

[smh]

Any property transferred under a will does not give rise to stamp duty or CGT. However I as executor to my father's estate am currently transferring property by means of a deed of appropriation to fulfill the legal right share of the spouse, my mother. My understanding is that this will need to be stamped by Revenue because the share that is being taken is non listed in the will and no power to appropriate is granted in the will. It is the Succession Act 1965 which authorizes the taking of the legal right share and also the appropriation. Under Section 96 of the Stamp Duties Consolidation Act 1999 a transfer from one spouse to another is exempt from stamp duty. The question here is whether the property appropriated to the spouse in the deed executed by the personal representative is regarded as being a conveyance between the deceased and his spouse or between the personal rep and the spouse. Normally any inheritance benefits taken are regarded for tax purposes as coming from the deceased even if it is the personal representative of the deceased who effects the transfer. Is this the case also here or is it the personal representative that is seen by Revenue as the transferor.

I'd be thankful for any opinions.

 

[mf1]

"I'd be thankful for any opinions."

If I was doing what you are doing, I would be seriously looking for proper legal advice from someone properly qualified!

mf

 

[Vanilla]

If the asset in question has increased in value since the estate valuation there could also be CGT. Specialist tax advice required. Do not, please, ring up the Revenue Commissioners and take what whoever who answers the phone says as specialist advice as I have seen other posters do. The drafting of the notice of appropriation also needs to be done very carefully since it will include the distributory estate account especially if there is any possibility of it being queried. Specialist legal advice required.