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?
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