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Property Life Interest Trust

Bellie1

I owned my house before I met my partner 12 years ago. My partner is an ex gambler so when I die, we agree that it's best not to leave him the house directly but rather to create a property life Interest trust so that he has a home for his life( or until he has to go into care) but that my next of kin would then inherit. Are there tax implications for my next of kin and him , immediately and in years to come? It's going to cost a fortune if have to get both solicitor and tax advice!

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Dublin Calling

Yes, of course their are tax implications. Starting with what 'partner' means! A competent solicitor will be required to write the will. This is a favorite topic on askaboutmoney.com. The users are happy to discuss the multitudes of possible issues, but the end advice will be the same as mine.

Bellie1

Thanks. I contacted a solicitor but they said Id also need to get a tax advisor..So seems no way to avoid that .

Dumb Juan

Hi,

You might not need a tax advisor, so have a read of the following:

https://www.citizensinformation.ie/en/money-and-tax/tax/capital-taxes/capital-acquisitions-tax/

https://www.revenue.ie/en/gains-gifts-and-inheritance/gift-and-inheritance-tax-cat/index.aspx

But you need to make a will, so that after you die everything goes the way you want it.

Dial Hard

https://www.boards.ie/discussion/2058439489/property-life-interest-trust

Could be a good one for Dominic Coyle in the Irish Times.

https://www.irishtimes.com/your-money/2026/06/07/what-tax-are-we-liable-for-on-home-we-inherited-where-our-mother-had-a-right-of-residence/

That may be paywalled but he welcomes reader queries - dominic.coyle@irishtimes.com, make sure to include your mobile number.

divillybit

Just will the house to whoever you want but put a right of residence in favour of your partner for their lifetime (or until he goes into a care home) into the will.

Claw Hammer

You are assuming that your partner will survive you. The will should allow for the fact that he might not.
Is the partner to have sole right of residence or can the beneficiary move in with your partner when they inherit?

You need to avid a situation where the beneficiary gets a tax bill whilst your partner is in the house and it can't be sold.

Your solicitor is naturally relucatant to advis on it because a disappointed beneficiary can sue a solicitor for negligence.

That being the case, if a solicitor won't advise, you should not rely on Counsel Google.