Planning for your children’s future is one of the most important financial decisions you’ll ever make. As Ireland continues to see rising property values, larger estates and more cross-border families, Inheritance Tax Savings Plans For Children have become a must-have strategy rather than a “nice to think about later” option.
At Money Maximising Advisors Limited, we work with Irish families across Dublin, Galway and nationwide to legally reduce inheritance tax exposure while protecting long-term family wealth. This 2026-ready guide explains what Irish parents really need to know, what’s changing, and how to put smart structures in place today.
Why Inheritance Tax Planning for Children Matters More in 2026
Ireland’s Capital Acquisitions Tax (CAT) rate remains 33%, and while thresholds exist, they haven’t kept pace with inflation or property growth. This means:
- More children are being pushed into inheritance tax unexpectedly
- Family homes are triggering tax bills
- Non-resident parents face complex Irish inheritance tax rules
- Poor planning results in forced asset sales
Without proper Inheritance Tax Savings Plans For Children, families risk losing a third of what they worked decades to build.
This is where Inheritance Tax Savings Plans For Children play a vital role.
How Inheritance Tax Works for Children in Ireland (Simple Breakdown)
In Ireland, inheritance tax depends on three factors:
- Relationship between the person giving and receiving
- Total value inherited over a lifetime
- Residency status of both parties
Children fall under Group A, which currently has the highest tax-free threshold. However, once this is exceeded, tax applies immediately at 33%.
This is why getting the best inheritance tax advice in Ireland early can save tens or even hundreds of thousands of Euros.
What Are Inheritance Tax Savings Plans For Children?
Inheritance Tax Savings Plans For Children are structured financial strategies designed to:
- Reduce or eliminate future CAT liabilities
- Fund potential tax bills in advance
- Transfer wealth gradually and tax-efficiently
- Protect family assets such as property and businesses
These plans often combine life insurance, trust planning, investment structures, and annual gifting strategies, all tailored to Irish tax law.
Learn more through our dedicated guide on Inheritance Tax Savings Plans For Children.
Key Inheritance Tax Saving Strategies Irish Parents Use
1. Section 72 Life Insurance Policies
A popular solution where a policy pays out tax-free specifically to cover inheritance tax when a parent passes away.
2. Annual Small Gift Exemption
Parents can gift €3,000 per child per year, completely tax-free, gradually reducing estate value.
3. Discretionary Trust Planning
Useful for protecting assets while retaining control, especially for vulnerable or young beneficiaries.
4. Early Asset Transfer
Transferring assets earlier can lock in lower values and reduce future tax exposure.
A financial advisor inheritance tax specialist ensures these tools are used correctly and compliantly.
Irish Inheritance Tax for Non-Resident Parents & Children
Modern Irish families are global. Many parents live abroad while children remain in Ireland, or vice versa.
Important considerations include:
- Irish inheritance tax non-resident rules
- Where the asset is located
- Where the disponer and beneficiary are resident
- Domicile status
Mistakes here are costly. Many families rely on an Irish inheritance tax non-resident calculator, but calculations alone don’t equal strategy.
If you’re searching “how to avoid Irish inheritance tax non-resident”, personalised planning is essential.
Inheritance Tax Advice in Ireland Cost: Is It Worth It?
Many people delay planning due to fear of fees. In reality:
- Professional advice costs far less than a 33% tax bill
- Early planning offers the greatest savings
- Structured advice prevents irreversible mistakes
When people search inheritance tax advice in Ireland cost, they’re usually relieved to discover how affordable proactive planning really is.
Why Local Advice Matters in Dublin & Galway
Inheritance planning is not generic. Property values, family structures and business ownership vary significantly.
If you’re searching for an inheritance tax advisor near me in Dublin or Galway, local expertise ensures:
- Accurate valuations
- Awareness of regional property risks
- Personalised planning aligned with family goals
When Should Parents Start Inheritance Tax Planning?
The best time? Before you think you need it.
Ideal moments include:
- Purchasing a second property
- Business growth or sale
- Retirement planning
- Children reaching adulthood
- Emigration or return to Ireland
You can enquire now to assess your current exposure and options.
Real-Life Example: Poor vs Smart Planning
Without Planning:
A Dublin homeowner leaves a €900,000 estate to two children. Tax applies immediately, forcing asset liquidation.
With Planning:
Through early Inheritance Tax Savings Plans For Children, annual gifting and Section 72 cover, tax is fully funded without distress.
Want a personalised strategy? Book now to speak with a specialist advisor.
Related Expert Guides You May Find Helpful
- Inheritance Tax Advice In Ireland: How to Avoid Paying Inheritance Tax in Ireland?
- What is the Most You can Inherit without Paying Taxes?
- How Do I Avoid Inheritance Tax on My Savings?
- Where Can I Get Advice on Inheritance Tax?
- How To Plan Easily For Your Inheritance Tax In Ireland?
- How Much Money Can You Gift to a Family Member Tax-Free in Ireland?
Who Should Advise on Inheritance Tax in Ireland?
A qualified financial advisor inheritance tax specialist should have:
- CFP or QFA credentials
- Tax planning expertise
- Estate and succession experience
- Knowledge of Irish & cross-border rules
At Money Maximising Advisors Limited, our advisors work collaboratively across pensions, investments, life insurance and estate planning to deliver fully integrated solutions.
FAQs: Inheritance Tax for Children in Ireland
1.How much can a child inherit tax-free in Ireland?
Children fall under Group A thresholds. Anything above this is taxed at 33%.
2. Does inheritance tax apply to children?
Yes. Once thresholds are exceeded, children must pay CAT.
3. What is the 7 year rule for inheritance tax in Ireland?
Gifts taken within 7 years of death may be reassessed for tax purposes.
4. Who is best to advise on inheritance tax?
A qualified financial advisor specialising in inheritance and estate planning.
5. How to minimise inheritance tax in Ireland?
Early planning, gifting strategies, trusts and Section 72 policies.
6. Can a financial advisor help with inheritance tax?
Absolutely. Strategic advice can dramatically reduce or eliminate liabilities.
Conclusion: Protect Your Children’s Future with Smart Planning
Inheritance tax is not just a financial issue — it’s a family issue. With the right Inheritance Tax Savings Plans For Children, you can protect your legacy, reduce stress, and ensure your children receive what you intended.
At Money Maximising Advisors Limited, we provide clear, ethical and expert guidance tailored to Irish families in Dublin, Galway and beyond. Contact Us
