Inheritance Tax - Living in US,Mother in Ireland

B

blackeyes

Registered User
Messages
7
Hi All,
I've been living in the States for 8 years and my elderly mother is living back in Ireland. I'm her only child and I'm now wanting to make sure I have all the info I need for when the time comes. I will inherit her house as well as a large sum of money.

I don't have an Irish Bank Account anymore so I'm worried about what happens with the inheritance money I will recieve. Do I need an Irish Bank Account or can it all be sent to my US one directly? Is there any tax implications if it is sent to the US?

BE.
 
If the donor (your Mum) is domiciled in ireland and her assets are in Ireland then you are liable for Irish inheritance tax on any amount over the parent child threshold of c.500K @ 20%. You having Irish bank accounts or not etc is irrelevant. You may also be liable for tax in the US - I wouldn't know anything about that.
 
You must log in or register to reply here.
Back
Top