Shares and inheritance - what are the rules to avoid paying too much taxes and avoid capital loss?

FABCFR

Hello,

Maybe someone can help me understand how to handle the capital loss of shares received in an inheritance.

To resume, it's been over 3 and a half years since my aunt passed away and she left me shares and a property in Dublin. Unfortunately, we have to deal with a notary's office that is not at all efficient, has no communication and is extremely slow.

The problem is that after 3 and a half years, the shares have fallen enormously and continue to fall day after day. At this rate, we have already lost about 40% of the price of the shares since the day my aunt died.

I have to pay taxes on these shares that I have to resell to pay the tax on the inherited house, but will these taxes be calculated on the price at the time of resale or on the price calculated when listing the inherited assets shortly after my aunt's death?

Ex: market value €100K at the time of death and value today €60K ... On what values ​​will I be taxed?

Is it legal to let an inheritance file go unresolved for so long when they know the risks about shares capital loss?

To avoid this loss of capital, should the firm not have proceeded with the resale of the shares (of course with the agreement of the executors), regardless of the other blocking points which could have appeared or not in the file?

Isn't there a law that requires the firm to handle this type of file in a much shorter time frame in order to avoid this type of loss or capital gain?

Do you think there is a law that would allow us to take action against this law firm to claim compensation for these losses that are not our fault?

I hope I have been clear enough in my explanation and that someone can give me some hints to help me understand my rights in such file.

Thank you and advance,

Patrick

SureYWouldntYa

See below Revenue guidance on valuation dates. I believe the value will be at the date you were legally entitled to the assets, which is typically the date of probate.

The Estate would typically be liable for any tax on the gain (or loss) between the date of death the date of valuation.

The executor would be the one who would instruct the solicitors to sell the assets for distributing funds to the benefactors of the estate, I don't think this could have happened until probate in any event (probate being the standard date for the date of valuation) so the loss was unavoidable on this side

I'll let someone comment on any legal recourse. I imagine if probate was in anything close to the standard probate time for the assets involved there won't be anything that can be done (not sure on what standard probate time is have to say)

Please also note if there was a loss on the shares, this could potentially be offset against any gain on the house if there was an increase in value between the date of death and the date of valuation where there may be CGT payable by the Estate on this gain, so while the loss is obviously not wanted it may get utilised at least

https://www.revenue.ie/en/gains-gifts-and-inheritance/cat-thresholds-rates-and-aggregation-rules/important-dates-for-cat.aspx