Assuming that not all people will die at the same time then you will be looking at the various scenario's. Having the four names on it will give each of you the calender allowance of €3000 each to add to your one time allowance so if either of you pass away first then your asset share passing on will give they others the chance to use this extra allowance.
E.G. house is valued at €396,000 ,
1/4 each valued at €99,000 ,
one person dies and leave equal share of €33,000 to the remaining 3 then they apply the once off allowance plus the calender allowance of €3,000. If another person passes away and they leave their share to the remaining 2 then you can apply the calender allowance of €3,000 again plus any remaining once off allowance.
I stand corrected,it is a gift allowance and not an inheritance allowance.The €3,000 allowance is also inheritance
No.
1. the first €3,000 taken as a gift by a beneficiary from a disponer in any one year is exempt from tax. Full stop
2. as are gifts and inheritances taken by one spouse or civil partner from the other
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