CAT - threshold group a & application for probate

W

winggeek

Registered User
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Hi,

We recently lost our mother ( father died long ago ) and the estate was left to the 7 children.

Does the threshold value hold for each child or is that for all the children , so is it 225,000 total or times 7 .

secondly i am one of the executors and i am looking at the probate application and have read a lot about it. i am wondering as the will is simple and all my brothers and sisters are very cooperative , is it that much hassle to apply myself , from what i am reading the solicitors fees are crazy .

any thoughts would be great

thanks
 
CAT is charged on the beneficiaries - each child has a threshold of € 225,000

A personal probate application is not overly complicated but will probably take longer than going through a solicitor. As a plus, the staff in the Probate House are very helpful.

If there is property involved, then transfer of this will probably need a solicitor at complete it.
 
My sympathies for your recent loss.

I'm doing probate myself for an estate. Whilst it's not hugely complicated, you do need to be a reasonable organised person & there's a fair amount of form filling and paper work.

You also need to be prepared for when some people start to act the maggot and be able to stand your ground.

How well do you get on with the other executor? Will you be able to work together? Will your siblings be OK with you doing the probate application?

There's definitely money to be saved, but it will take longer. The probate office is currently guiding at a waiting time of 6-7 months for an appointment.
 
Thanks for the replies so far.

@jpd using the solicitor to transfer the property once completed and for the oath is the only parts and will reduce expenses , if they were to do it all how much roughly does it cost?

@thirsty I have an excellent relationship with my sister and we are very organised. We also are very assertive.

How do families pay all the bills / expenses that death brings if the process to release saving funds takes months to complete ?

Thanks for your input so far much appreciated .
 
winggeek said:
How do families pay all the bills / expenses that death brings if the process to release saving funds takes months to complete ?
Click to expand...

If someone can afford it a family member will usually fund inevitable interim expenses and be repaid out of the estate. If you bring the original funeral bill to the bank (assuming there is money there) they will usually give an executor a cheque/draft payable directly to funeral director - get the impression they'd prefer not to so will make you jump through hoops.

Don't underestimate the problems that can arise with 7 beneficiaries - even with the best will in the world. It will be painful & time consuming whether or not you use a solicitor - and you don't get paid for it!!
 
I had no problem at all getting funeral expenses paid by bank, gave them the invoice & they paid funeral directors.
 
Ok . One thing I noticed in the will was a statement near the end that said , I request that the firm SOLICITOR NAME be retained as solicitors in the administration of my estate ....... Does this mean that you can't do a personal grant of probate or that if you do you have to use them and only them for oaths etc and no other solicitors ....interesting clause.
 
Hi, I am currently completing a probate application personally rather than going through a solicitor.

One this I found out after ringing the revenue is that a CAT self assessment form must be completed within four months after the deceased passed away and this must be completed on ROS so I have to get setup with access to Revenue online service... this is different that what the CA24 form, which can be downloaded on the courts or revenue website, indicates as it states that the self assessment form IT38 must accompany the probate application if the benefit exceed 80% of the threshold.... did anyone receive the same advise?
 
Tedmundo, a CAT return and payment must be made within 4 months if the "valuation date" is on or before 14/06/2010.

From that point on, the pay and file date is fixed and is currently October 31st for gifts and inheritances with a valuation date from September 1st in the preceding year to August 31st of the current year.

The valuation date is most likely to be the date of grant of probate and not the date of death of the disponer - this seems to be strange advice you received.
 
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