Probate Tax

A

Angelab

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Hi

My Father died in 1995 having made a will leaving the house to my Mother for life and then to me and leaving a plot of ground to my brother absolutely. My Mother died in 2009 and I am wondering what is the situation regarding Probate Tax. Do we owe Probate Tax (approximate value of house €120,000 and plot of land €50,000 in 2009) and if we do is it due since 1995 or 2009.

I would appreciate any information regarding this as I am extremely worried about how much tax is owed, if any, as I am on a very low income and I am dreading having to pay Probate Tax and Solicitors fees.

Thanks
Angela
 
Probate tax is for deaths occurring up to December 2000.

According to this there is tax due, but no interest if your mother died less than 9 months ago. It's 2% of the value, minus some exemptions.
http://www.revenue.ie/en/tax/cat/leaflets/cat3.html
Is there special relief for surviving spouses?
Yes. The tax on property passing absolutely to a spouse is abated to nil. Where the spouse receives a limited (life) interest in property the tax borne by the property is postponed until the death of the surviving spouse. Provided the postponed tax is paid within 9 months of the date of death interest will not be charged.
Click to expand...

The Executor is primarily responsible, but the beneficiary has secondary responsibility.
 
Thanks for that. I was afraid that the probate tax on the plot of ground would be due since 1995 as my Brother is owner since then.
 
I would imagine there is probate tax + interest due on the plot, if it was not left to your mother to make use of.

If so, the tax + interest wouldn't be very big (maybe €400) and would be payable by the Executor of your father's will, or failing that, your brother.
 
Thanks for that. I wonder how much would a Solicitor charge for getting a Grant of Probate.
 
Who is Executor? Someone said €2500 for a solicitor to do Probate (on another thread), but doing the application yourself (if you are Executor) is straightforward if the will is straightforward and would cost less than €200 in your case.
 
My late Mother and myself were named as Executors but I didn't know about the will until my Mother died.
 
Well, it sounds straightforward and you should be able to do it yourself without much difficulty.
 
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