Inheritance Tax Planning is the process of planning for the transfer of a person’s wealth and property after death.
Section 72 Policy calculates the expected tax bill of the property beforehand so that your children inherit your property tax-free upon death
Section 73 Policy is a savings plan taken by a person who owns assets to pay for the potential gift tax liability when certain assets are passed onto someone else
There is a lifetime limit from Parent to Child of €335,000 per child of either gifts or inheritance. Once your total assets value exceeds this threshold, a 33% tax is payable on this excess.