Valuation Date for Inheritance

[Mullsafin]

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?

 

[T McGibney]

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.

 

[Mullsafin]

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?

 

[T McGibney]

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.

 

[ClubMan]

The information here and any further guidance documentation linked from that page might help but may not be a substitute for professional advice as per @T McGibney's posts...

What is the valuation date?

This page explains what the valuation date is

www.revenue.ie

 

[Mullsafin]

Thank you for your help