Inheritance conundrum...

E

emeralds

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A's uncle died and has left A a sum of €60,000. A has already exceeded her category B CAT threshold so will be paying tax of 33% on the €60,000. Tax will be €19,800 leaving her €40,200.

The will then states that A's 3 children are to each receive their maximum amount up to the category C tax threshold ie. €16,250 from the amount that A has been bequeathed. So A's three children are to receive a total of €48,750.

A is bemused and bewildered! Is she to find €8,850 from her own resources to allow the amounts to be given to her children as the will stipulates? Or does she divide her €40,200 into 3 equal amounts?

Or is it all a bit bonkers as A is beginning to think??? She is hoping that possibly the children's share will come off the gross €60,000...
 
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It never ceases to amaze how wills are done.

I'd imagine it's €16,250 to each child and €11,250 to A.

The inheritance for Uncle to As child rather than to A and then the child.
 
You should talk to a solicitor about the option of A rejecting anything left to her to see then does this amount go to the children which would mean they would get the max amount available to them.
 
Joe_90 said:
It never ceases to amaze how wills are done.

I'd imagine it's €16,250 to each child and €11,250 to A.

The inheritance for Uncle to As child rather than to A and then the child.
Click to expand...

I think this must surely be the intent. So A has some hope !!

Mind you the uncle went to a solicitor to draw up the will, but quite possibly came up with the convoluted method by himself...
 
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