Inheritance to nephews/niece only

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jamo67

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3 nephews 1 niece named in Aunt's (no children of her own) Will. Stipulation that one of the nephews pays 120K into the estate to be left Aunt's house outright. Circa 180k cash also left to be split 4 equal ways amongst nephews and niece.

The value of the house going on other properties sold in the estate is 250-280K. What will the tax ramifications if any be with money been added into the estate and moving sideways?.

Speaking as niece how will I be taxed?. 2 of the nephews were appointed executors. I guess the will cannot be altered but is there an alternative arrangement that might work better without changing the outcome for the beneficiaries other than avoiding Tax where possible or is this straightforward with the 32,500 CAT. Also all 4 of us received 9k each 4 years ago in a Will from another Aunt.
 
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So the portion of the estate left to you is 40K (a third of the 120K) plus 45K (a quarter of the 180K). Thus an inheritance of €85 K

Your tax will be 33% of (85+9-32.5) which is roughly 20K. So once you get the inheritance into your bank declare it to revenue, along with your 9K previous inheritance, and pay them the €20K tax bill.

If you want the inheritance - about €65k for you then you pay the tax, your only other options is to decline the inheritance or decline it in favour of one of the other beneficiaries.

You seem to be focused on the house but that is not part of your inheritance and the nephew who inherited that will have to deal with it, not you.
 
Is there not an allowance for a niece to receive some without having to pay tax?
 
If you renounce your share, you can not decide you gets it.

It is added to the residue of the estate and distributed according to the residue clause if there is one or according the intestate rules, if not
 
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