Planning for our future
Making your Will and Succession Planning for your retirement and the next generation
Plan the transfer of assets
Who is going to run your business when you retire?
Do you plan to pass it on to family members or are you hoping to sell your business interests?
Have you considered who you would like to leave your property to when you die?
Who would you want dealing with your personal affairs?
Who do you trust to implement your wishes?
Making a will and probate services to take care of the property of a deceased person
We provide advice and assistance on:
- Preparation of wills – recording your wishes and who you want to inherit your property
- Availing of dwellinghouse relief – a tax free transfer of a residential property, a house or an apartment
- Availing of agricultural relief and business relief and favourite nephew relief
- Administration of estates – dealing with the assets and liabilites of a deceased person to distribute property in accordance with the will of the person or if there is no will in accordance with the law under succession act rules and common law
- Challenging wills
Read about Agricultural Relief
Succession planning and planning for your future needs
We provide advice and assistance on:
- Succession Planning for you, your family, your business and your future including considering the availability of business relief, favourite nephew relief and agricultural relief and other taxation reliefs
- Preparation of power of attorney – decide who you want to take care of your affairs if you are unable to do so due to illness, sickness or incapacity
- Nursing Homes Support Scheme, a Fair Deal – consider how you will pay for your future healthcare needs
- Passing on the business to others – as a gift or a sale or in your will
Read a Case Study on Eamon’s Dilemma
Secondary liability for the payment of inheritance tax in Ireland
Generally the beneficiary (the person who gets the benefit) is liable and responsible for paying his or her own capital acquisition tax (inheritance tax) on receiving a benefit.
The Capital Acquisition Tax Consolidation Act 2003 imposes an obligation on a beneficiary to file a Capital Acquisition Tax (CAT) return.
The law provides that there is an obligation to file where the value of the benefit exceeds 80% of the tax free threshold for the benefit.
Secondary liability only applies in limited circumstances where an Irish resident personal representative (or a solicitor acting as agent) may be liable for the CAT of a non-resident beneficiary.
Our company recently needed some legal contract work completed. I found Michelle to be organised, professional and very helpful in explaining the process. I would have no hesitation in recommending Michelle for the excellent service she provides.
Stephen O’Brien CEO – Cableflag Ltd. June 2020