Probate Query

Willyk

Hi,

I wonder if anyone can advise on this. An uncle of mine died recently and left his estate to myself (nephew) and 2 other nephews. We all live in NI but he lived in the South of Ireland. Myself and one of the other nephews are the 2 named executors of his will. We are thinking of carrying out the probate process ourselves as it seems relatively straight forward as described here:

http://www.citizensinformation.ie/categories/death/the-deceaseds-estate/dealing_with_the_deceaseds_estate

We would like to keep the house on and provide a holiday home for the wider family to be able to use. This was my Uncle's wish. Unfortunately we may not be in the position to afford this as it would appear we fall into the group (nephews) which will leave us liable for 20% tax on the value of the estate above 44000 Euros.

I have 2 main queries:

It would appear that his estate is relatively straight forward (entire estate left to 3 people, all with the same aim of keeping the house on and not taking any money out) so the first question is, should we employ a solicitor or have a go ourselves ? Maybe with us living in the north it complicates matters. What sort of cost is involved with regards to this type of work? I guess we hire a solicitor in the Eire.

Secondly the initial probate form asks for our "own" estimate of the house value and not that of a estate agent. Is this just a ballpark figure to get things started and then further down the line an estate agent be used to get an official figure? I have noticed on a few estate agents websites that they advertise probate valuations. The problem with the valuation is that the house is old and in pretty bad repair, but the location (2 acres) is superb. It could be worth somewhere between 200,000 and 400,000 Euros. Very difficult to say. If the value is at the upper end of the range we will probably have to sell the house to pay the tax !

Any advice would be very welcome. I have posted this in the NI thread, as there are probably a few people about who have maybe been in the same situation with regards to the property being in Eire.

Thanks and regards, Willyk

max5heads

I dont know much about this, biut i think if the house was signed over to the nephews 6 or 7 yrs before your uncle passed away you would miss the 20% tax bill...

ballyblack

In what County is the property?

I would employ a good local solicitor and not try to cut corners(he should be able to save you tax in the long run) The solicitor will employ a suitable Estate Agent for the 'crucial' probate valuation which should be on the low side in this economic environment??

Also you also have to obtain three separate Eire PPS numbers (Eire Taxpayer reference) before you receive anything. Your N. Ireland tax/NI numbers are not accepted.

The solicitor will apply for these numbers for you all.(You will need proof of identity etc)

Bye the way the probate procedure in Eire can be very slow, so a good solicitor is important

http://www.citizensinformation.ie/categories/social-welfare/irish-social-welfare-system/personal_public_service_number

Willyk

Thanks for the replies.

Ballyblack, As you suggest hiring a local solicitor is probably the way to go. The more I think about it the more complications I can see ahead. With regards to the County it is either Co Cavan or Co Monaghan !!! I thought he lived in Monaghan, but his pension book / death sert says Cavan ! I can see this being a problem at some stage. I am almost certain he lived in Monaghan. Is there anywhere I can definitely find out one way or the other ? I guess the house deeds should say ?

Rgds, Willyk

ballyblack

I was an executor recently concerning two separate estates in each of those counties.

Co Monaghan

I used Kevin Hickey of Barry,Hickey & Henderson Solicitors, Clones, Co Monaghan

http://www.barryhickey.ie/


Co Cavan;

Tommy Sheridan of
Thomas Sheridan & Co Solicitors, Market Square Bailieborough Co. Cavan , Solicitors, 00 353 42-9665377,

Both solicitors employ local agents to get a 'realistic' valuation which will be much lower this year compared to this time last year because of the slump

It took about 18 months to get probate granted and I thought their charges were very reasonable (they are rural practices with lower overheads than say Dublin)

SaveMeTheMoney

I would definitely advise using a solicitor. It does sound as if the administration of the estate will be straightforward, so as Ballblack says, don't cut corners and the solicitors fees shouldn't be too high if it is straightforward. As the estate needs to be dealt with in a different jurisdiction, it would not be advisable to do this yourself, different tax laws don't help - tax law here is complicated enough!