Probate Granted

S

Sambuca

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Can someone tell me how long does it take after probate is granted for funds to be released? Funds are invested in the bank and the post office.
 
If clearances are required from the Dept social welfare, income tax office and Capital taxes then distribution cannot take place, also creditors notice might be required. Usually once clearances are in funds should be distributed within a few weeks ( to allow for paperwork, accounts and actually get funds from the accounts).
 
What I have been told by the solicitor is that the bank takes up to two months to release the funds and the post office even longer! It was a staright forward will with everything left to my mother who lives in the US. I cant help think that it hasnt been dealt with right......the trainee solicitor was very rude when I asked for information and timeframes.....it will me a year since date of death in May.
 
Perhaps you should read Vanilla's post?

If you're not happy with what you've been told and you suspect something ( what exactly? ) then write a letter of complaint to the solicitor in charge of the office.

mf
 
Thanks for your replies.

I have another question in relation to the rate of CAT. As the rate has changed today from 22% to 25%, if the grant of probate was received last Feb will the increased rate apply to any taxable amount?
 
The threshold/rate takes effect from the date of the gift/inheritance.
In general (but not always) for an inheritance this is the date of death, which was pre-budget- so the old rate should apply.
 
Hi Sambuca, I am almost in the same boat as you. My mother died last June and I was wondering the same thing about the pre-budget rate of 20% or if I would now have to pay 25% as well as the decrease in threshold rate. As with you, it was a straightforward will and the grant of probate was granted in early Feb but I am still waiting on the Post office and a bank to release funds. Thanks juke for confirming because I could not find this info anywhere.
 
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