Distribution of will question

[Jimjobjim]

Take this scenario, an uncle passes away, two nephews in will, will states passing of estate, doesn’t specify amounts just estate. There is some cash and house left, cash is used to pay inheritance tax, which leaves house, both nephews want to keep house, how does the transfer of title/deeds work, can the deeds be transferred into both their names? What would be the process there?

Thanks for any insight

 

[Thirsty]

Once grant of probate is extracted, estate can be distributed per will.

assuming both are resident in ireland, iheritance tax is paid by beneficiaries not executor.

House can be transferred into beneficiaries name by a Deed of Assent. Its pretty straightforward.

 

[jpd]

cash is used to pay inheritance tax

This seems to indicate uncle lived outside Ireland, or if he lived in Ireland, then nephews live abroad or OP doesn't have all the facts correct

 

[Jimjobjim]

This seems to indicate uncle lived outside Ireland, or if he lived in Ireland, then nephews live abroad or OP doesn't have all the facts correct

Hi, I meant savings in bank left, savings would clear inheritance bill and no both Irish based. Executors are the beneficiaries

 

[jpd]

The beneficiaries have to pay the Inheritance Tax not the estate

 

[Thirsty]

I think, from re-reading the posts what the OP means is that the beneficiaries will inherit sufficent cash to deal with the inheritance tax without having to sell the property.

 

[Jimjobjim]

I think, from re-reading the posts what the OP means is that the beneficiaries will inherit sufficent cash to deal with the inheritance tax without having to sell the property.

Cheers, Yes indeed, that’s what I was getting at