Tag Archive for: Death

Proper Provision | Family Law Case

Inheritance Rights of Cohabitating Couples

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INHERITANCE RIGHTS OF CO-HABITING COUPLES
If you are at least 18 years old and of sound mind, you can make a Will. If you later
get married or if you enter a civil partnership, that Will is automatically revoked unless
the Will was made with that marriage or civil partnership in mind. However, if you
co-habit with a partner (that is, move in to live with a partner) that arrangement has no
effect on your pre-existing Will.

Cohabitants and Inheritance Tax:
Even if a cohabiting partner provides for their partner in their Will, the partner will be
treated as a stranger for capital acquisition tax ( inheritance tax) purposes in relation
to their inheritance. Currently cohabiting partners pay tax at 33% tax on any
inheritance over €20,000

In the case of a cohabiting couple where the surviving partner inherits the home, the
surviving partner may be liable for inheritance tax, unless the surviving partner
qualifies for a dwellinghouse tax exemption.

If your cohabiting partner has not made a will or has not provided for you:
A financially dependent cohabitant may be able to apply to the court for provision to
be made for them from the estate of a deceased partner if the relationship ends as a
result of death or otherwise. This is known as the redress scheme for cohabiting
couples. If you get redress from a court under this scheme, you may be exempt from
paying capital acquisition tax.

In order to apply for redress, you must be a “qualified  cohabitant”, that is you must have been:
• Living with the person for at least five years in an intimate and committed
relationship; or
• Living with the person for two years in an intimate and committed relationship
if you have had a dependent child with your partner.

If you do qualify to apply under the redress scheme you still may not be entitled to any
provision or share of your partner’s estate if they die. Much will depend on the
financial relationship between partners, each partner’s financial circumstances and
whether a partner was still married or had children and the size of the estate.

Making a Will:
Making a will can ensure that proper arrangements are made for partners and the
dependents and that your property is distributed according to your wishes, subject to
certain rights of spouses/civil partners and children. Tax advice can help reduce or
minimise the amount of tax your beneficiary must pay.

Donal T Ryan solicitors will help you to prepare a Will that reflects your wishes,

Contact any of our solicitors at 052 744 1244 for our Cahir Office and 062 61288 for our Cashel Office.

Plan ahead for 2025- make a Will

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Plan ahead for 2025- make a Will

The start of a New Year is the perfect time to make a will. This will give you peace of
mind as to how your possessions will be distributed when you die.

What is a will?

A will is a legal document that outlines how your property, money and other assets (also
known as your estate) should be distributed after your death. This may involve leaving
your assets to family, friends or charities that are important to you. By making a will, you
ensure that your assets are distributed according to your wishes.

Steps to making a will
We will guide you through the process and answer any questions you may have.
A will is only valid if it is made in writing, you are over 18 years and you must be able to
understand and decide what you are doing (this may be referred to as having legal capacity).
The will must also be signed by you in the presence of two witnesses.

Keeping your will up to date
Life can change quickly so keeping your will up to date is important. A will made years
ago may not reflect your life today. For example, you might have gotten married or have
a new life partner, you may have had children since your last will or your children may
have become adults, you may own more property or have other assets to consider.

What happens if I don’t make a Will?
If a person dies without making a will, they will have died ‘intestate’. If this happens,
there are laws that set out how the estate will be divided and this means your estate may
not always go to the people you would have chosen.
Where there is no will, your spouse or civil partner is entitled to either all or two-thirds of
your estate, depending on whether you have children or not. The remaining one-third is
divided between your children.

If you don’t have a spouse, civil partner or children, your estate will be divided among your
living relatives according to a set formula. Cohabiting couples or those in long-term
relationships without legal status may receive nothing. These are important personal
considerations to discuss with your solicitor to avoid future upset or uncertainty.

Talk to us!
Every adult should have a will. We strongly encourage you to make a will or to review
your existing will to make sure it is up to date. Talk to us for advice and support on making
a will.

You can contact any of our solicitors in the Cashel and Cahir offices at 062 61288 or 052 7441244 if you wish to make a will.

Last Will and Testament

IS MAKING A WILL SOMETHING THAT YOU KNOW YOU SHOULD DO BUT HAVE NOT YET DONE – THE REASONS WHY YOU SHOULD MAKE A WILL.

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1. You decide how your assets will be distributed on your death
If you don’t make a will, you are deemed to have died intestate and your estate will be distributed according to the rules set out in the Succession Act, 1965. This means that those who will get your estate might not be whom you want.
2. Children – You chose who will look after your children if you die.
If you have children under 18 years of age, they will need guardians – that is someone who steps into your shoes and parent the children until they are 18 and make decisions about their health, religion, education etc. if both you and the other parent are involved in a catastrophic accident and pass away at the same time..
When you make a will you chose the person for this role.
Also, children cannot hold property until they are 18 years of age. You will need to appoint at least two Trustees to look after your children’s assets until they come of age.
3. Smart tax planning – by leaving certain property to certain people you may be able to maximise reliefs under inheritance tax rules and minimise the tax liability for your beneficiaries.
If you die intestate – it is predetermined who gets what and it may not be the most tax efficient way to distributing an estate.
4. You choose who handles your affairs on death rather than having the law decide
The person you choose will be your executor. If you do not make a will the rules of Court will determine who is eligible to administer your estate.
Also, who can administer your estate will be dictated by Court Rules. Again, this may see a situation arise where someone you would not want will be looking after your affairs after your death.
Peace of mind-the peace of mind that comes from knowing that you are not leaving problems behind for your loved ones when you pass away is priceless. Making the first will is often the hardest.

If you want to discuss making a will contact either our Cahir or Cashel office and we would be delighted to schedule a meeting with one of our solicitors. Just do it.