Tuesday 27 June 2017

Who gets left what and how it's taxed...

Succession Act 1965 Rules:

Married/Civil partner, no children: Spouse/Civil partner takes all

Married with children: Spouse 2/3; Children 1/3 divided between them in equal shares

Single, no children: Parents in equal share

Single, no parents or children: Siblings in equal share

Single, no parents, children, brothers or sisters: Nieces/nephews. If no nieces and nephews then to next of kin in the following order: grandparents; aunts and uncles; cousins

Inheritance Tax-free Thresholds - Current and (2017)

Group A: Son/daughter: ¤280,000 (¤310,000)

Group B: Parent/sibling/niece/nephew/grandchild: ¤30,150 (¤32,500)

Group C: Anyone else: ¤15,075 (¤16,250)

Irish Independent

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