logo-m

Good News for Probate Clients

Probate

Good News for Probate Clients

The latest changes in the budget for probate clients will be good news for clients who are taking out probate or grants of administration for an estate. Capitla acquisition thresholds that are applied to gifts and inheritance of a deceased’s estate have increased.

Group A threshold (gifts from parents to children) has increased from €335,000 to €400,000. Group B (a gift to a brother, sister, a child of a brother or sister or a parent of the disponer) has increased from €32,500 to €40,000.

Group C (where the person does not have a relationship covered in Group A and Group B) has increased from €16,250 to €20,000.

The said increase will be most helpful for beneficiaries in discharging their tax liability.

Probate FAQ’s

When someone with a Will dies, Probate is the process to distribute their assets. The Will’s representatives are Executors. No Will means Administration.

Probate typically takes 4-6 months in Ireland due to a 4-6 week backlog at the Dublin Probate Office.

A Probate Grant isn’t always needed – e.g. for joint assets or cash under €25,000. But it’s required for shares, land or property.

With no Will, the process to distribute assets is called Administration, not Probate. The representatives are Administrators, not Executors.

First, make funeral arrangements. Then register the death and get the certificate to deal with the estate.

If so, it’s usually kept by their solicitor. If not, the estate passes under Intestacy rules.

Funeral costs can be paid directly from the deceased’s account before Probate, using the death certificate.

Notify insurers about vacant property, and get bereavement counselling/support if needed. Seek legal advice on the estate.

CAT applies to gifts/inheritances, with tax-free thresholds based on the beneficiary’s relationship to the deceased. Reliefs may apply.

If you would like to know more about Probate, please call us today to arrange a consultation. Please telephone Eoin Powderly on: +353 1 6284333 or email: contactus@powderlysolicitors.ie

CONTACT INFO

Kilcock
The Square, Kilcock,
Co. Kildare W23 F226
Tel: +353 1 6284333

Maynooth
Finnerty House,
Dublin Road, Maynooth,
Co. Kildare, W23 Y0A6
Tel: +353 1 601 6396

Prosperous
Main Street, Prosperous,
Co. Kildare W91 T62P
Tel: +353 45 989 111

Clane
Main Street, Abbeyland,
Clane, Co. Kildare, W91 YK83
Tel: +353 45 246 527

USEFUL LINKS

OUR MISSION

We pride ourselves on working closely with our clients — some of who have been with us, since Powderly began in Kilcock, for 25 years.

contactus@powderlysolicitors.ie

© Copyright 2012 - 2024 Powderly Solicitors LLP | All Rights Reserved.
WordPress Website Management by exSite.

CONTACT INFO

Kilcock
The Square, Kilcock,
Co. Kildare W23 F226
Tel: +353 1 6284333

Maynooth
Main Street, Maynooth,
Co. Kildare W23 Y0A6
Tel: +353 1 601 6396

Prosperous
Main Street, Prosperous,
Co. Kildare W91 T62P
Tel: +353 45 989 111

Clane
Main Street, Abbeyland,
Clane, Co. Kildare, W91 AN29
Tel: +353 45 246 527

contactus@powderlysolicitors.ie

USEFUL LINKS

OUR MISSION

We pride ourselves on working closely with our clients — some of who have been with us, since Powderly began in Kilcock, for 25 years.

© Copyright 2012 - 2024 Powderly Solicitors LLP | All Rights Reserved.
WordPress Website Management by exSite.

Go to Top