inheritance tax

J

jackal

Guest
An Aunte of mine has told me that she is leavnig me her house she has no children and has been split from her husband for over 30 years now. she owns her house and the ex never lived there .
what is the best way to keep my tax libility to a min and also does the ex have a claim on her estate ??
Jack
 
Has she a formal separation or divorce - if not, ex ( if he's an ex husband) may have a claim on the property.

Tax liability? Probably quite significant - depending on your circumstances. One possibility is to move in and take up residence in the house chez Auntie - although if you're married, your spouse might not like it.

mf
 
Out of interest- the relevant provision states that the beneficiary must have resided in the dwellinghouse for 3 years prior to the date of the inheritance. But can the date of inheritance be the date of grant? You see what I'm getting at- what is to stop a beneficiary in this type of scenario waiting until the disponer dies, then moving into the house and not extracting a grant until 3 years later. In the meantime sell other house, if any, and therefore avoid ( or evade, that is the question!) CAT?
 
No there is no divorce/formal seperation they have not lived together for over 30 years ,the deeds of the house are in her name and he has not lived there. i was told that if she writes him into her will for something small then he can not get anything else or she states in her will that he is not to get anything from her estate then he gets nothing but do not know how true this is ? is it pos to buy the house for her now and avoid the inheritance tax ??? also moving into the house is not an option.
Thanks
J
 
jackal said:
i was told that if she writes him into her will for something then he can not get anything else but do not know how true this is
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Told by whom? Doesn't sound right to me abut IANAL. My understanding is that unless they are divorced then the normal statutory spousal inheritance rules may still apply. Even if they are divorced then there may still be some entitlements (we don't have a "clean break" divorce system in Ireland as far as I know).
 
There are too many variables for this to be the right place to get advice. I strongly suggest that you and your Aunt jointly consult a solicitor at the earliest opportunity.
 
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