My sister in law died intestate 3 years ago. She was single in her 40's. She had a long illness and she lived with us for the last 6 years of her life. She left some savings & investments, a house, a ½ share in a city apartment jointly owned with my wife; and a share in her parents home and farm. Her parents also died intestate some years before and the estate has not been probated. There are 4 surviving siblings, one of whom is doing the necessary around the probate but has found it difficult to get movement and agreement. The estate is valued at about €0.5m. Some €18k solicitors fees have been run up so far. Solicitor is warning about mounting tax bills – there is a low level of discontent and 2 family members are very slow to make decisions, both of whom live abroad, UK & US, respectively. The US person does not respond to any communication on these matters at all. Everyone would like her to have the house and enough money to pay the tax which I think could be about €15k. There are no indications that she would come to live in the house which is not located in a prime property town. Two members (including the UK one) are willing to forgo most of their shares in her favour. My wife would get the share of the apartment under the proposed arrangement valued at about €170k.
My wife and I are anxious to bring this matter to a conclusion at this point and wonder how we do that in the most cost and tax efficient way possible.
The properties etc were valued at her date of death – will the estate be adjusted downwards to reflect current values for probate purposes?
Can the administrator just push the thing through at this stage or can one person hold the thing up by being passive in relation to the proposal made?
Can members transfer their tax exemption to others if they choose not to take their intestacy share?
Any advice on how to proceed would be appreciated.
My wife and I are anxious to bring this matter to a conclusion at this point and wonder how we do that in the most cost and tax efficient way possible.
The properties etc were valued at her date of death – will the estate be adjusted downwards to reflect current values for probate purposes?
Can the administrator just push the thing through at this stage or can one person hold the thing up by being passive in relation to the proposal made?
Can members transfer their tax exemption to others if they choose not to take their intestacy share?
Any advice on how to proceed would be appreciated.
