Which inheritances received by Shane from Jackie are exempt from inheritance tax?

The correct choice identifies that all the inheritances received by Shane from Jackie are exempt from inheritance tax.

Proceeds from a life assurance policy typically pass outside of the estate and are usually exempt from inheritance tax, particularly if the policy has a designated beneficiary. This provides a financial benefit to the beneficiary without the added burden of taxation.

Regarding the investment property, transfers of property between spouses or civil partners can often benefit from exemptions under certain conditions, ensuring that such inheritances do not attract inheritance tax liabilities.

Additionally, the proceeds from a Personal Retirement Savings Account (PRSA) can also be exempt if the designation of beneficiaries is properly structured, and they align with inheritance tax laws that favor beneficiaries in certain circumstances.

Therefore, all these assets inherited by Shane from Jackie can qualify for exemption from inheritance tax, leading to the conclusion that the answer is indeed that all of the inheritances, including those from the life assurance policy, investment property, and PRSA, are exempt.