Valuation Date for Inheritance

M

Mullsafin

Registered User
Messages
28
Hello,

When someone is passing illiquid assets (specifically property in this case) to their children, is the valuation date:

The date of the disposer's death, or

The date when the Grant of Probate (if there's a will) or Letters of Administration (if there's no will) is issued?
 
The treatment depends on the circumstances of each individual case and is impossible to anticipate in any given case without a full assessment of the facts of that case.

If the sums involved are material, you should seek appropriate legal or tax advice.
 
Ok I thought it would have been more black and white than that. If it helps the disposer would be the sole owner of the properties at the time of passing?
 
Suffice to say there have been authoritative books written on CAT that devote a surprising number of pages of small text to the various permutations of how the valuation date is to be determined according to circumstances.
 
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