Question asked:


Hi Alan, Mr. A dies intestate in June 2014. €615k Estate consists of: €75k cash, Farm house €75k and agricultural assets €465k (Land 400k, Livestock 50k and machinery 15k.) Mr. A has 4 siblings who are entitled to 25% each of the estate under the rules of intestacy. They wish to utilise a deed of family arrangement to divide the assets to suit. Under the proposed deed Sibling 1 will receive the farm house €75k and €255k of agricultural assets. He has €80k non-agricultural assets at present. Siblings 2 will receive €105k of agricultural assets. He is a farmer and all the assets he owns now are agricultural and farming is his sole source of income. Sibling 3 will receive €105k of agricultural assets. She has no assets whatsoever. Sibling 4 will receive the €75k cash. I am aware of S. 573 (6) and the double charge to CAT. The main question I have is: Does the Deed of Family Arrangement mean that the valuation date for CAT purposes moves from date of death to the date of the deed of family arrangement? Thanks, Liam

Marked as spam
Posted by (Questions: 7, Answers: 2)
Asked on 24 February 2015 5:11 pm