Q&A: Blended families increase the potential complications around inheritance but home transfer is irrevocable so it is important to examine all options
Inheritance is one of those very peculiarly personal issues in society generally, and possibly even more particularly in Ireland. And the evolution of Irish society to a place where second relationships and blended families are now a common feature makes proper planning for inheritance all the more important.
Note that I say “no automatic right”. The only thing to be aware of here is that there is provision for an unmarried partner to apply for support under the redress scheme for cohabiting couples. I would not expect this to apply in a situation where both partners have been financially independent but it is worth being aware of all the same.
As I say, I would be very surprised if it applies here but it is worth being aware of as you and your mother make what is a significant decision. It is, of course, possible for her spouse – if they do eventually marry – to renounce their legal right share and it is something that I think we will find increasingly common going forward in the case of second relationships. However, this is a very specific legal notion and one on which both parties should consult a solicitor and ensure that any such commitment is drawn up in a formal legal manner.
Loneliness can be a terrible thing and many older people enter new relationships for the best of reasons only to find out at some point that they are not as compatible as they initially thought. This year, with the cost-of-living issues families are facing, I expect the priority will be on lifting all boats with improved tax credits, or possibly even indexing of credits rather than benefiting a minority who are already seen as benefiting disproportionately compared with other less well-off families. But what do I know? I’m no economist and I certainly have no inside track on the thinking of the current Government or the Minister.
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