Tag Archivessuccession

Adult Hands Key To Child

What is a child entitled to from a parent’s will?

This seems like a simple question, though it is anything but. A report in today’s Irish Independent highlights the issue with a dramatic headline: End of inheritance: changes to law means parents can cut children out of their wills The detail, of the existing law and proposed changes to it, is more complex. The article […]

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Home Tax Typography Design.

Budget 2017 increases to gift and inheritance tax thresholds

Tax on gifts and inheritances are both collected through capital acquisitions tax. The rate is currently charged at 33% but the thresholds have increased, meaning that more of the gift is taken tax free. This change takes some gifts and inheritances out of the tax net and reduces the liability on those that exceed the […]

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71% of farmers plan to keep it in the family

The Irish Examiner has run a series of interesting opinion polls this week to coincide with the Ploughing Championships. This morning they focus on farm succession. We wrote about it last year and spoke to the Examiner about the interesting results. Rossa McMahon said planning was essential for a clear succession strategy, but many farmers […]

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Decorative Scales Of Justice In The Courtroom

The cost of homemade wills

Our recent 5 tips for making a will post mentioned the danger in making a will without legal advice, as highlighted by a High Court decision in 2011. That case involved the will of a well-known poet and philosopher which made mistakes common in many homemade wills. In considering the will, Mr Justice Gilligan highlighted […]

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Last Will And Health Care Directive

5 tips for making a will

No-one wants to think about dying, but it will happen to us all. This stark reality means planning for what happens after death is something everyone should do. One interesting case which highlighted the dangers of “home made” stressed the importance of a properly drafted will: The making of a last will and testament is […]

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Adult Hands Key To Child

Are children entitled to a share of a parent’s estate?

When making a will you can, to a large extent, divide your estate whatever way you like. There may be practical or taxation reasons for structuring a will a certain way, but the law allows a wide discretion on how you divide up your assets. If you are married, however, your spouse is entitled to […]

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Photo 13-10-2015, 10 42 43 a.m.

Lessons from Teagasc’s farm succession clinic

As solicitors with broad experience advising farming families we were delighted to be invited by Teagasc to attend their Transferring the Family Farm Clinic for the Limerick/Kerry region which took place today (13 October 2015) in the Devon Inn Hotel, Templeglantine. John Molyneaux and Rossa McMahon met many farming families for one-on-one consultations in a […]

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Succession planning still an issue for Irish family businesses

PwC have published an interesting survey on family businesses which has a global scope but also has significant conclusions in relation to Irish businesses. The survey covers a range of issues including growth, going digital and the increase in professional management of family businesses. A striking finding, however, is that only 1 in 10 of […]

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