As our lives move towards the later stages, our focus tend to shift towards enriching the lives of our loved ones. One important element of this is passing our assets to them, in the most tax efficient way possible.
This is a process to be planned and potentially started many years in advance. There are mechanisms within the Irish taxation system that enable significant transfers of wealth, without any liability to tax. However this is subject to annual gifting limits and inheritance thresholds, and so the need for careful planning many years in advance.
We work with you over many years to develop the most effective plan for you. We help you identify who you want to receive your assets, how much you want them to receive and how this fits with your capacity to live your own life in comfort. We examine many different “what if” scenarios, forecasting the impacts of transferring assets at different stages of your life, and at death. In short we help you transfer the maximum amount possible, while reducing the impact of tax.