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Aunt wants to leave land to Nephew

My aunt has four acres she says she wants me to have but she won’t make a will. What can I do? John, Tipperary.

My aunt has four acres she says she wants me to have but she won’t make a will.  What can I do?  John, Tipperary.

 

Hi John.  This is entirely up to your aunt and she has two options.   She could transfer the land to you during her life (she could do it tomorrow if she had a mind to) or she could leave it to you in her will.  Either way you cannot force her to do it and should not because that could be seen as undue influence.

If I were asked by a client who owned land and wanted to transfer it to a relative, I would always advise them to consider transferring it immediately and not wait for a will, assuming that they do not need any income from the land.  They could always maintain a life interest in the property to secure their position if their house was on it.

Declan Carty asks: What is the Capital Acquisitions Tax position if this gift does go ahead?

Brian: A gift from aunt to nephew has a tax free allowance of I think €50,000.00 (after the programme confirmed at €52,121.00). It may be possible for our listener John to avail of the “most favoured nephew” exemption which, if granted, would give him the tax status of a son with an allowance of around €500,000.00 (after the programme confirmed at €521,208.00). On the tax issue John you should talk to an accountant.

 

The issues raised in the answer to this NewsTalk listener's question are dealt with in a general way as can only be the case on live radio. Before relying on the advice given in this answer, whether you heard the broadcast or are for the first time reading the issues here please do not rely on the broad advice given. For a detailed professional opinion please consult a qualified legal advisor and for further details read our disclaimer on the Home Page.

The issues raised in the answer to this NewsTalk listener's question are dealt with in a general way as can only be the case on live radio. Before relying on the advice given in this answer, whether you heard the broadcast or are for the first time reading the issues here please do not rely on the broad advice given. For a detailed professional opinion please consult a qualified legal advisor and for further details read our disclaimer on the Home Page.

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