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G A Z E T TE
SEPTEMBER 1985
S.59 Finance Act, 1985
The following letter from Alan Dukes, T.D., to Hugh
Coveney,
T.D., concerning S.59 of the Finance Act,
1985, will be of interest to members. It is published with
the permission of Mr. Coveney.
Mr. Hugh Coveney, T.D.,
Carrigduv House,
Blackrock,
Cork.
20th June, 1985
Dear Hugh,
I refer to your representations dated 4 June on behalf
of O'Flynn, Exhams & Partners, Solicitors, 58 South
Mall, Cork concerning Section 59 of the Finance Act,
1985.
The overriding concern behind the introduction of the
exemption of inheritances between spouses was the
position of surviving spouses particularly in instances
where the transfer of illiquid assets such as the family
home was concerned. Extending the exemption to
include gifts between spouses was not considered
appropriate or necessary.
As far as Mr. O'Flynn's point about discretionary
trusts is concerned it is the Revenue Commissioners
practice to recognise the right of the surviving spouse on
the disponer's death, irrespective of any change in
his/her marital status that may subsequently occur. In
the case of an estate which is the subject of a
discretionary will trust, the fact that circumstances may
arise where succession to the estate occurs at a date
when the successor is the widow/widower of the
disponer or who has remarried during the period
between the settlor's date of death and the date of
appointment of the trust assets, does not interfere with
or remove that persons right as the surviving spouse of
the disponer.
Yours sincerely,
Alan M. Dukes, T.D.,
Aire Airgeadais,
Dublin 2.
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S.A.D.S.I. NEWS
The Annual General Meeting of the Solicitors
Apprentices Debating Society of Ireland was held on
Wednesday 2nd October 1985. Mr. Terence McCrann,
the outgoing Auditor, thanked the Incorporated Law
Society and his Committee for their co-operation and
encouragement during his year. Mr. McCrann said that
he hoped Apprentices derived enjoyment from the
activities held during the year and that the debates were
thought-provoking.
Francis Hackett was elected Auditor for the 102nd
Session.
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