Where possible, the option of gifting cash subject to the annual gift exemption of €3,000 to each beneficiary should be availed of. This is a medium to long term strategy, the effect of which is to pass wealth which can grow in each beneficiary’s name without depleting the tax free thresholds available to them.
If you would like to pass on cash to your children or grandchildren, tax free, this strategy should be implemented as early as possible, to obtain maximum value transfer up to a certain age.
A married couple with two children who implement this strategy from the birth of their children can each gift €3,000 per child, per year. This has the effect of passing €252,000 total value (ignoring any return on investment) from the parents to the children free of gift tax.
What clients say?
I was delighted with the analysis completed on my pension. It gave me the opportunity to make positive decisions in my life. It opened up many possibilities that I never knew I had, in fact, possibilities I thought I didn’t have or would ever have. It’s certainly worth having a consultation with Richard and Paul […]read more
Billy S. // Retired Bank Manager
Buckley Kiely Wealth Management has been advising us on our financial affairs for a number of years and I wouldn’t hesitate to recommend them. I am delighted with the advice provided. Richard [Fowler] has a direct and uncomplicated manner when it comes to financial advice. He is always prompt in answering my questions and raising […]read more
I am forever grateful to Buckley Kiely Wealth, and to Richard Fowler, in particular, for taking such a personal interest in what happened to my investment with the bank and for fighting my corner with me all the way to the Ombudsman. I am delighted with the outcome not least because I really didn’t expect […]read more
When my mother fell ill and I was appointed as Power of Attorney over her finances, I needed an independent adviser to help decide where to invest her money to ensure that there is always sufficient finance to pay for her care. I met Richard Fowler of Buckley Kiely who gave me great advice on […]read more