How much is 8500 Euros worth today?

drew12a

If anyone could help me please it would be very much appreciated.

My Mum is about to receive an inheritance cheque very shortly but I want to ensure she is receiving the right amount.

A distance relative died in the Republic Of Ireland in 1999 and they had a balance at that time of 8,500 Euros.

To cut a very, very long story short my mother is entitled to the funds and will receive a cheque very shortly.

So the question I need to know is how would I calculate what this figure is worth today? What factors would decide the value of this amount changing from the 8,500 Euros in 1999 to whatever the said balance is today?

Many thanks in advance for everybody's help.

Mistermeaner

It will still be 8500eur today.

boliston

What is the interest rate of the account?
A euro is worth about 73p according to google right now so the base figure without interest is about £6205

antrobus

drew12a wrote: »

...So the question I need to know is how would I calculate what this figure is worth today? ....

Look up the EUR: GBP rate on Google. Knock off 5% for charges and the currency spread.

drew12a wrote: »

..What factors would decide the value of this amount changing from the 8,500 Euros in 1999 to whatever the said balance is today?...

Does it matter for any particular reason?

drew12a

I know for a fact that 89,000 Euros got credited in 2011 to the estate, I know for a fact that in 2011 the estate was in excess of 100,000 Euros. My mum is about to receive a cheque imminently, don't want her to be ripped off.

The person that died was Ward of Court in the Republic Of Ireland. And thats who was looking after the deceased affairs.

Mistermeaner

This is so confusing.

8900 eur or 89000 eur?

Either way it's still 89000 or 8900 - what you can buy with it may have changed but the number won't unless it's been earning interest but then all you need is the balance today: how can we calculate that with no info?

Perhaps the fact the dead person was looking after their own estate didn't help

savingfortomorrow

The ward of court fund has the best return rates on the investment in Ireland; there should be some interest. However, the currency exchange rate will reduce it. You need to make contact with the probate office. http://www.probate-ireland.com/services/ward-of-court/

drew12a

Sorry for the confusion, the person that died was made a Ward Of Court and was being looked after in a hospital and did not have the mental capacity to look after their own affairs.

Anyway, thanks for all advice given everybody and will click on link in last post and follow above advice in the other posts.

Generali

drew12a wrote: »

Sorry for the confusion, the person that died was made a Ward Of Court and was being looked after in a hospital and did not have the mental capacity to look after their own affairs.

Anyway, thanks for all advice given everybody and will click on link in last post and follow above advice in the other posts.

I'm glad you ended up getting the advice you were looking for.

drew12a

Mistermeaner wrote: »

This is so confusing.

8900 eur or 89000 eur?

Either way it's still 89000 or 8900 - what you can buy with it may have changed but the number won't unless it's been earning interest but then all you need is the balance today: how can we calculate that with no info?

Perhaps the fact the dead person was looking after their own estate didn't help

Mistermeaner have to say not happy with last line of this post. This person was a relative of mine (all-be-it a very distant one) and like I said earlier did not have the mental capacity to look after their own affairs. Also they're no longer here.

Whilst I appreciate you were only trying to help in this post and I admit I have not been very clear in my own posts, I have to say I take offense at that last line.

Generali

drew12a wrote: »

Mistermeaner have to say not happy with last line of this post. This person was a relative of mine (all-be-it a very distant one) and like I said earlier did not have the mental capacity to look after their own affairs. Also they're no longer here.

Whilst I appreciate you were only trying to help in this post and I admit I have not been very clear in my own posts, I have to say I take offense at that last line.

I suspect that it was a throwaway joke based on the idea that a dead person isn't likely to do a good job of anything much at all. I wouldn't read too much into it.