Making a Will and Tax Free Thresholds

A gift or inheritance from a spouse is not liable to inheritance tax. This will only apply to a legal spouse and to divorced persons in certain circumstances. A “cohabitant” or “partner” in the general meaning (i.e. not a “civil partner”) is treated as a stranger for tax purposes.

If you leave property by Will to someone other than a spouse then the first portion, known as the tax free threshold, is taken free of tax. The amount of the tax free threshold depends on your relationship to the beneficiary and will also depend on whether any other benefits have been received.

For instance where you leave property to a child, or a minor child of a deceased child or, in certain circumstances, to a foster child or to a parent (in an unrestricted form) then the tax free threshold is the largest; known as the Group A threshold. If the property is left to a parent (where it is a restricted interest), brother or sister, niece or nephew, or grandchild, then Group B threshold applies, and if property is left to anyone else (for example a friend, in law, cousin or “partner”) then Group C threshold applies. The tax free thresholds are updated annually, usually in January in line with inflation. Details of the threshold amounts for the current year can be found here.

However, if a person has received other gifts or inheritances since 5 December 1991 they are added together (aggregated) according to certain rules relating to the date on which the gifts were received and from whom they were received. The effect of this may be to reduce or remove the tax free threshold available. If aggregation does apply, then the tax bite may prove disproportionate and professional advice should be sought.

Further information: Law Society of Ireland – Making a Will, Revenue – Thresholds, Rates and Aggregation Rules

Dealing with Personal Debt Problems

Meeting to help tackle personal debt problems,
3rd November,2014

The Insolvency Service of Ireland (I.S.I) is an independent government organisation set up to tackle personal debt problems. The I.S.I is holding a briefing session on Monday, 3rd November, 2014 at 7.30 p.m. in the Central Hotel, The Diamond, Donegal Town in order to reach out to contact points within the Community.

The briefing session will provide an opportunity for attendees:-

  • to discuss with others in the Community their experiences of helping people struggling with their debt;
  • pick up copies of the debtor friendly booklets developed by the I.S.I;
  • talk to PIPs and AIs about the services they provide to debtors;
  • get an overview of the debt solutions themselves and the benefits
    they provide to debtors;
  • to view a presentation of the qualitative research recently
    conducted on behalf of the ISI. This research will provide
    valuable insight into the experiences of debtors and how they may
    be best reached and helped when they do come forward for

During this briefing session the I.S.I will provide independent information and copies of the debtor friendly leaflets it has produced to help explain the debt solutions available. These booklets have been developed to provide straightforward, easy to understand information on the options available to people who may be struggling with debt.

The I.S.I will also provide a briefing on personal insolvency developments including the recent waiver of its applications fees. To complement this event the I.S.I will also be reaching out to debtors directly through interviews and appearances in local media and through a national radio and print advertisement campaign.Registration will be held 7.00 p.m.

It is intended that another briefing will be held in Letterkenny later in the year.

For further information on the I.S.I and the debt solutions, visit and or contact the I.S.I on Tel. 076 106 4200.

If you have a personal debt problem which you would like to discuss, please feel free to call
Donna Crampsie
or Killian McLaughlin for advice.

Best Will in the World Week 2014

Have you made a Will?

The importance of making a Will cannot be emphasised enough. When you make a Will you decide what should happen to your assets after your death. It enables you to make provision for your family and friends or for a charity of your choice.

What is Best Will in the World Week?

The Best Will in the World Week is an initiative set up by My to encourage people of all ages to make a Will.

During this week, the cost of a consultation to make your Will is just €50.00. The fee of just €50.00 we will include your initial Will consultation, drafting your Will and attending to your execution of the Will.

When is Best Will in the World Week 2014?

Best Will in the World Week 2014 takes place from the 20th to 24th October, 2014.

Call for an appointment

Call our offices today on +353 74 93 63111 to arrange for your consultation. Alternatively you can e-mail us directly:

Killian McLaughlin follows his father’s ‘distinguished’ footsteps into law

Photo\; Killian McLaughlin with his father Ciaran MacLochlainn

Killian McLaughlin, son of solicitor Ciaran MacLochlainn, took his seat amongst his fellow solicitors to contest his first ever criminal case in front of the District Court in April this year.

A past pupil of Scoil Mhuire, Buncrana and the University of Ulster Magee was formally introduced to the local courts. Introducing Mr. McLaughlin to the court, long serving solicitor Philip White said it was an “great honour” to introduce the young solicitor – noting that it was not something that was “so frequent” anymore.

Full article / photograph can be found at the Inishowen Independent