The trend for couples to co-habit, rather than marry, has become increasingly more common in Ireland All other cohabiting couples are still treated as strangers for Inheritance and Gift Tax purposes. The stranger threshold for inheritance Tax is €16,750 (Feb 2012). Inheritances in excess of €16,750 are subject to tax at 33%.
Will you have to pay inheritance tax on the death of your partner?
A badly drafted or out-of-date Will can do more damage than no Will at all!
A Will is a vitally important thing to write. But an incorrect, badly drafted or obsolete Will can be a huge headache.
A Will is an expression of your wishes regarding the management and distribution of your estate after you die. It’s also a legal declaration in which you appoint one or more adults to manage your estate and transfer your property after your death.
Die ‘intestate’ (without a Will) and your property, personal possessions and other assets will be distributed according to intestacy law, rather than your personal wishes. Many believe that when they die, their spouse or partner will receive all their wealth and goods. Actually, this is not the case. In fact, without a Will, your assets are distributed according to a strict legal pecking order.
Inheritance Tax Planning How will your family manage this liability after your death ? Have you made provision for Inheritance Tax ? Inheritance Tax Planning identifies and manages any tax liability in advance and will deliver peace of mind for both you and your family. You can set up a life insurance policy equal to