Estate Planning Example

The following is a practical example of the benefits of our Estate Planning service. Our client, aged 52, had accumulated significant wealth in recent years. He was arranging his WILL through his solicitor.

Outcome without Estate Planning;

Tax advice showed his family faced an inheritance tax bill of about €200,000 upon his death. His solicitor referred him to us for a consultation to explore ways to reduce the expected inheritance tax bill.

We arranged lifetime transfers and set up Section 72 life assurance policies to cover the tax bill at death.

Outcome after proper Estate Planning

The result is that this will leave his estate intact for a tax-free distribution of his wealth, in line with our client’s intentions. Furthermore, the client had the peace of mind that he could comfortably and freely spend some of his wealth on his ‘bucket list’ before it is too late.

In our opinion, a ‘free’ Will service is unlikely to provide the required and helpful thought-provoking questions or prudent estate planning. It is vital that a solicitor and financial planner also handles estate administration after someone dies and avoid the chaos of someone dying without a will.

Let us know if we can we help you in this area?

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