Inheritance Tax Planning

Inheritance Tax Planning

Inheritance tax planning can help to cover your loved ones for inheritance tax on any assets you leave them.

Inheritance tax is paid when someone inherits money, property or other assets. It is normally paid very shortly after the death of the person they are inheriting the assets from. If the value of the asset you receive is under your threshold (see below), its tax-free. Anything above your threshold is taxed at 33% (March 2019)

Group A Group B Group C
Relationship to Disponer Son/Daughter Brother, sister, child of a brother or sister,
niece, nephew, grandchild,
lineal ancestor or descendant
Other
Threshold €335,000 €32,500 €16,250

In general, anyone who inherits money, property or other assets (with a value over a certain amount) from you when you die may have to pay inheritance tax (excluding your husband, wife or registered civil partner).

If you do not plan ahead, your family could be faced with a difficult decision between having to sell part of their inheritance or having to borrow money to pay the tax bill. If your family is likely to have to pay inheritance tax when you die, it is a good idea to protect them against this beforehand.

FIND OUT MORE ABOUT HOW YOU CAN PROTECT:

  • Your Home
  • Your Family
  • Your Income
  • Yourself Against Serious Illness
  • Your Business
  • Your Employees

We are here to answer any questions you may have. So, for peace of mind about your future, your family’s future, your business’s future, why not give us a call today to discuss your options.

 

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Warren Buffett

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