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Probate

Probate is the term given to the process of distributing a person’s estate after their death to their beneficiaries.

It means having the Probate Office certify that the Will is valid and that all legal, financial and tax matters are in order so that the Executors or Administrators can be allowed to get on with the job of distributing the estate.

Where there is a Will in place, it is the Executors who are responsible for obtaining the Grant of Probate, clearance letters from the Revenue Commissioners and Social Welfare, and ultimately distributing the assets to the persons entitled.

Where there is no Will in place, the Administrator will carry out the duties above.  Usually the next of kin will be the Administrator and this needs to be sanctioned by the Probate Office. The Executors or Administrator will liaise with the probate solicitor in order to obtain the Grant of Probate.  At John A. Sinnott & Co. Solicitors, we will work efficiently on your behalf to obtain the Grant of Probate or Administration, and can do so even if the Will was made elsewhere.

Taxation

Inheritance matters should always be considered in light of amendments to Taxation and Succession Legislation to ensure the most effective devolution of assets whilst minimising tax exposure.

Tax Thresholds (what can be inherited tax-free)

A person can inherit up to the following values without paying Capital Acquisitions Tax:

A Spouse – no limit
Up to €320,000 to a child
Up to €32,500 to a sister, brother, niece or nephew
Up to €16,250 to anyone else

Capital Acquisitions Tax at 33% is payable by the recipient on any surplus above these amounts

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