Estate planning is the process of organising and managing a person's assets and affairs in the event of their death. It also includes organising your finances and assets to reduce the amount of tax your family or loved ones might have to pay when they inherit your estate after you pass away.
There are various options available to plan for such events.
If this is something you are interested in, please get in touch and we would be more than happy to assist you.
Inheritance Tax or Capital Acquisitions Tax (CAT) in Ireland is a tax on gifts and inheritances. You may receive gifts and inheritances up to a set value over your life before having to pay CAT. The standard rate for inheritance tax in Ireland is 33%.
Please see below table for current thresholds.
| Type of pension | How does each type of cover help you? |
|---|---|
| Group A: €400,000 | Applies where the beneficiary is a child including adopted child, step-child and certain foster children) or minor child of a deceased child of the disponer. Parents also fall within this threshold where they take an inheritance of an absolute interest from a child. |
| Group B: €40,000 | Applies where the beneficiary is a brother, sister, niece, nephew or lineal ancestor or lineal descendant of the disponer. |
| Group C: €20,000 | Applies in all other cases. |
