Inheritance Tax Insurance

“Everyone gets organised at some point, they just might not be around for it”

We are all aware that there has been major reductions in estate values since 2008/09 with estates being devalued by 30% to 40% on what they were a number of years ago. In the 2009 Finance Bill we saw a reduction in the thresholds for gifts and an increase in the tax payable. Budget 2011 gave us more of the same, Threshold reductions along with an increase in tax from 25% to 30%.

The carefully planned transfer of assets and estates to the next generation is an area that Meritus Wealth Management advises on. Recent falls in the value of personal assets has focused people’s minds now more than ever, with independent financial advice being the first step in getting your long term goals back on track. Foremost in many people’s minds is the process of moving their assets, and indeed their businesses, to the next generation. How they can do this tax efficiently and in a well planned and thought out way is a challenge. Tax planning, whilst important, is not the only motivation for carefully managing assets as we get older. In analysing and making recommendations in relation to matters of Inheritance Tax Insurance we must consider the following elements:

   Making use of the tax free gift thresholds between parent and child
   Availing of the annual tax free small gift allowance between all individuals
   Using, when possible, the tax advantages of Approved Retirement Funds (ARFs) to       coordinate the estate
   Transferring business assets to children working in the family business whilst transferring other       accumulated assets (including retirement funds) to those not involved with the family business

Despite what your financial situation may be, having life insurance can offer a great way to build an estate for your loved ones.



T: +353 21 4255390
E: [email protected]



Insurance, Planning
& Protection

Tax Insurance

Healthcare Division