The Gazette 1985

SEPTEMBER 1985

G A Z E T TE

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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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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