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Inheritance Or Gift Tax
What a beneficiary is allowed to take tax free.
| Relationship To Donor | Allowable Threshold |
|---|---|
| Child/foster child/minor child of a deceased child Parent in some cases | Euro 456,438 |
| Lineal ancestor or lineal descendant: brother or sister niece or nephew | Euro 45,644 |
| Others | Euro 22,822 |
| Small gifts excemption is Euro 3,000 from any one individual | |
No Will Made ~ Who Will Inherit?
In the situation where no will have been made then the following are the legal divisions.
| Persons Surviving | Share Taken |
|---|---|
| Spouse only, no children | 100% |
| Spouse and children | Spouse 2/3 Children 1/3 |
| Children only | 100% in equal shares |
| No spouse and no children | Parents 100% |
| No spouse, no children and no parents | Brother/sister divide 100% in equal shares |
| No brothers/sisters | Niece(s)/nephew(s) take 100% in equal shares |
| No nieces/nephews | Next of kin inherit - rules apply |