INHERITANCE PLANNING

Nobody wants to leave hard-earned money to the tax collectors.

Yet that’s exactly what will happen if you don’t plan your inheritance.

When making a will, the Revenue Commissioners can really decide how much you leave – and to whom.

If you exceed their capital acquisitions tax allowances and thresholds, you’ll pay 33% tax on anything above that.

Estate planning also means writing a will in the first place. A solicitor will help for a relatively low fee (from €150) as well as providing guidance on estate planning.