The inheritance tax burden has increased dramatically.
We all know we can’t keep death away from our door forever, but what you may not know is that the tax burden on inheritance has increased dramatically since the onset of the financial crisis.
What does this mean for my family?
The effect of this increase in Inheritance Tax, coupled with the reduced tax exemptions, will affect many families. See the example below which explain this exposure:
How do I reduce the inheritance tax burden for my family?
You can take out a specific type of life cover called Whole of Life, which is exempt from inheritance tax. The proceeds from this life cover will be exempt from tax and can be left to your family who then use it as a payment towards the tax.
How does this work?
We will calculate the liability and then advise on which a course of action based on the life assurance premiums. The overall benefit of this option is best explained below:
Would you like to know what your inheritance tax burden looks like?
Email us at firstname.lastname@example.org or phone us on 01 293 6500.
Author: Colm Brennan