I received advise a few years which I may believe may now be wrong.
My will states that my Grandchild will inherit my estate when I die.
My son her father has passed away, so she will the next in line.
I was told by my solicitor that the inhertitance would be treated tax wise as if it was my son and she could get the first €335k Tax free.
I have become aware of a similar situation and the grandchild has had to pay tax on the full amount as advised by their solicitor.
Which is correct?
Thanks
My will states that my Grandchild will inherit my estate when I die.
My son her father has passed away, so she will the next in line.
I was told by my solicitor that the inhertitance would be treated tax wise as if it was my son and she could get the first €335k Tax free.
I have become aware of a similar situation and the grandchild has had to pay tax on the full amount as advised by their solicitor.
Which is correct?
Thanks