My hypothetical case is for one beneficiary. It's to illustrate how I feel.Where do you get the tax due as € 87,000?
If the estate is worth € 500,000 + € 100,00 = € 600,000 and is divided amongst the three children, then there is no CAT due (there is a tax-free threshold of € 335,000 per child and each child will be getting € 200,000
Nobody is just receiving 513,000 in this example; they are paying 87k+ cold hard cash now to receive a property that might sell for 400k later.I'd happily pay 87,000 euro to receive 513,000 euro - hard to imagine anyone who wouldn't
Where did I get the idea? From a recent appeal I made to the Valuation Tribunal. And from correspondence I've seen from a previous probate: Revenue imposed an unrealistic figure which the solicitor accepted because their fee was based on the value of the estate.You value the house for probate based on what it’s likely to sell for . If the house is likely to sell for €400k, that’s the value for probate . Where are you getting the idea that Revenue will impose a value on you ?
A property sells for whatever the buyer agrees to pay.If the property is valued at 400k, then selling it will get 400k
It doesn't work like that. It's a negotiation with Revenue who try to impose high valuations.If it isn't worth 400k, then don't value it at 400k
Did you need a solicitor for any oaths or affidavits to accompany the application? The courts website suggest so but when I rang the local probate office they didn't think so but they weren't sure.A few years ago I dealt with my late mother's probate by way of an executor's personal application.
I found the Probate Office in Dublin to be exceptionally helpful.
There was a property element [house] in the estate so I subsequently instructed a solicitor to deal with the conveyancing - for safety !
Be aware that if it looks like there may be complications with the application the Probate Office has the right to terminate the personal application and direct the executor to proceed through a solicitor.
It's not really a Convyance in the sense of a sale or purchase but an Assent. If the title is straightforward and especially if it's Registered with the Land Registry I'm sure theIt's not necessarily the case that a solicitor will get a grant of probate quicker than a personal applicant.
Once the grant is issued to the executor(s) they can proceed to administer, but as already stated in a previous post a solicitor will need to be instructed for the conveyance of a property.
You’ll need either a Solicitor or Commissioner for Oaths to witness the swearing of oath/affidavits.Did you need a solicitor for any oaths or affidavits to accompany the application? The courts website suggest so but when I rang the local probate office they didn't think so but they weren't sure.
If there is real property (land and/or buildings), you will need a Solicitor to do the conveyancing aspects.
Yes, I think by law they are only allowed charge €10 for swearing of oaths/affidavitsYou’ll need either a Solicitor or Commissioner for Oaths to witness the swearing of oath/affidavits.
Did you need a solicitor for any oaths or affidavits to accompany the application? The courts website suggest so but when I rang the local probate office they didn't think so but they weren't sure.