How long before a will is distributed?

Femmesage · 06-07-2014 10:25pm #1

Hi. Can anyone tell me or give me an idea how long from probate being granted does it take for a will to be divvied up?
Probate was granted in march. Went to a local registry office and now it's gone to 'Dublin' then comes back to the solicitor !! No idea where it's off to or how long it will take!!
Can anyone help?!

Mr. Incognito · 07-07-2014 12:42am

Depends on the complexity of the assets.

No hard and fast rule. Can take years sometimes

Femmesage · 07-07-2014 1:45am

Thanks for response. Assets are mostly money divided 3 ways & a house. No one contesting it & we've been told it's the final part of the process. All ducks are in order & all accounts cleared so it's literally the red tape & dividing up that's left. But how long does this take & what does it include?

Mr. Incognito · 07-07-2014 1:13pm

Well it depends on the terms of the will.

If the house is to be sold and the resulting assets divided three ways etc then they will have to check if the house is registered title. If not they will have to obtain good marketable title to the house and then arrange for it to be sold. That could take a number of months.

Every single probate is different. If you want a timeframe ask the solicitor administering the estate

Femmesage · 07-07-2014 1:27pm

Thanks again. No. It's a straight forward house left to his brother and money to be divided between remaining 3.
The money has been looked at and all adds up. Solicitor keeps saying 3 wks but they've said that for 3 months. So when I phoned and said what was happening next they said the estate goes to Dublin and then back to the solicitor ( Co Clare) to be distributed. All very vague but god they won't give me a straggly answer!!

measurement · 26-07-2014 5:40pm

You need to chase the solicitor, as you are due to complete your CAT return and pay the tax by the end of October this year, given when Probate was granted. And, if you are doing on paper (IT38) instead of via ROS, it is the end of September.

mozattack · 28-07-2014 1:45pm

measurement wrote: »

You need to chase the solicitor, as you are due to complete your CAT return and pay the tax by the end of October this year, given when Probate was granted. And, if you are doing on paper (IT38) instead of via ROS, it is the end of September.

Not necessarily unless you are assuming the date of probate is the valuation date; this isn't always the case though.

measurement · 29-07-2014 6:23pm

mozattack wrote: »

Not necessarily unless you are assuming the date of probate is the valuation date; this isn't always the case though.

The date the revenue return and CAT payment are due is not governed by the valuation date. It is determined by when the Grant of Probate issues. If that is before 31st August, CAT is due by end October (via ROS) in the same year(September if paper IT38 is used). If it's after 31st August, you get another year - it has all been 'streamlined' recently. (but if the Income Tax people ask for a statement of assets, don't assume they will get it from the CAT section - they won't! It's not that streamlined.)

mozattack · 30-07-2014 1:20pm

measurement wrote: »

The date the revenue return and CAT payment are due is not governed by the valuation date. It is determined by when the Grant of Probate issues. If that is before 31st August, CAT is due by end October (via ROS) in the same year(September if paper IT38 is used). If it's after 31st August, you get another year - it has all been 'streamlined' recently. (but if the Income Tax people ask for a statement of assets, don't assume they will get it from the CAT section - they won't! It's not that streamlined.)

Apologies but I would disagree with the above.

"CAT compliance is firmly centred on the concept of the “valuation date”,
which determines when the benefit needs to be valued, and when the
return needs to be filed and the CAT paid. The rules on when a
valuation date falls are wide-ranging and flexible, so that they can take
account of all the possible permutations and combinations in relation to
a gift or inheritance. Legislation that is geared towards ensuring
flexibility does not always provide a simple rule to follow and the
valuation date legislation, and S. 30 Capital Acquisitions Tax
Consolidation Act 2003 (CATCA 03) is no exception. "

measurement · 31-07-2014 12:31am

mozattack wrote: »

Apologies but I would disagree with the above.

"CAT compliance is firmly centred on the concept of the “valuation date”,
which determines when the benefit needs to be valued, and when the
return needs to be filed and the CAT paid. The rules on when a
valuation date falls are wide-ranging and flexible, so that they can take
account of all the possible permutations and combinations in relation to
a gift or inheritance. Legislation that is geared towards ensuring
flexibility does not always provide a simple rule to follow and the
valuation date legislation, and S. 30 Capital Acquisitions Tax
Consolidation Act 2003 (CATCA 03) is no exception. "

What you quote above may be true, but I suspect it also determines when Probate is granted. It also mentions 2003. The changes I referred to were enacted in the Finance Act 2010, when the whole process was stood on its head, so that the main affidavit (CA24) goes first to the Probate Office, not Revenue. Revenue only get it once Probate has been granted.

http://www.revenue.ie/en/tax/cat/leaflets/changes-probate-cat.pdf

I was paraphrasing what the Probate Officer said to me when completing the review of the CA24 for which I was executor, only this month. Basically, she said that it was a pity in a way that probate wasn't delayed just a bit longer (I had to wait over 6 months for an appointment), since the Grant of Probate was going to issue before 31st August, and that meant I'd have to get my skates on because the CAT returns and payments are due by the end of October.
I also had to phone the CAT office yesterday to clarify the requirements for a local 'agent' (me) to pay CAT on behalf of a non-resident beneficiary, and without me asking, I was again warned that if it wasn't filed and paid by 31st October, there would be penalties.

The piece you quoted mentions valuation date for CAT (which could be for a transaction that doesn't involve probate), but again I remind you that it is dated 2003, whereas the Finance Act 2010 made sweeping changes to CAT processes.

mozattack · 31-07-2014 11:06am

measurement wrote: »

What you quote above may be true, but I suspect it also determines when Probate is granted. It also mentions 2003. The changes I referred to were enacted in the Finance Act 2010, when the whole process was stood on its head, so that the main affidavit (CA24) goes first to the Probate Office, not Revenue. Revenue only get it once Probate has been granted.

http://www.revenue.ie/en/tax/cat/leaflets/changes-probate-cat.pdf

I was paraphrasing what the Probate Officer said to me when completing the review of the CA24 for which I was executor, only this month. Basically, she said that it was a pity in a way that probate wasn't delayed just a bit longer (I had to wait over 6 months for an appointment), since the Grant of Probate was going to issue before 31st August, and that meant I'd have to get my skates on because the CAT returns and payments are due by the end of October.
I also had to phone the CAT office yesterday to clarify the requirements for a local 'agent' (me) to pay CAT on behalf of a non-resident beneficiary, and without me asking, I was again warned that if it wasn't filed and paid by 31st October, there would be penalties.

The piece you quoted mentions valuation date for CAT (which could be for a transaction that doesn't involve probate), but again I remind you that it is dated 2003, whereas the Finance Act 2010 made sweeping changes to CAT processes.

I dont rely on legislation from 10 years ago, this was a quick source I found because I couldn't be bothered looking up something on this given that I have done CAT for years so if you want to file CAT returns on basis of the date of probate and never in respect to the VD, by all means do.

If course the date of probate can be the VD but I am saying that you can have the probate in 2011 (for example) and not have the VD until 2013 (for example) to which the CAT returns should be filed. The rate of tax and thresholds still relate to the date of death

How long before a will is distributed?

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