WHEN a loved one dies, there are a number of pressing, and painful issues to deal with, one of which is settling their financial affairs. A new booklet from the Revenue Commissioners What to do about tax when someone dies should be helpful to anyone acting as a personal representative/executor or trustee of someone's estate, to beneficiaries of a deceased person's estate or to a surviving spouse who may also now wish to consider their own tax position.
The booklet is written in fairly simple language - the law does not always provide for the easiest terminology - but it is particularly useful in the step-by-step description of what you must do and when you must do it if you are the executor of a deceased person's estate or acting as a trustee. The booklet tells you exactly what tax office you should contact, it also provides a list of the national and regional office addresses and telephone numbers. A number of worked examples of what to expect in dealing with inheritance cases are included.
The booklet is available free of charge from any tax office or by calling the Taxpayer Information Service, Capital Taxes Division at (01) 679 2777.
. Family Money welcomes suggestions from readers on topics of personal finance they would like to see highlighted. Please write to Jill Kerby, c/o The Irish Times, 11-15 D'Olier Street, Dublin 2, or fax 679 8874, or e-mail to jmkerby.indigo.ie