Estate & Planning

Ireland has one of the highest rates of gift and inheritance tax in Europe at 33% and is ranked seventh highest in the OECD. As a result, transferring assets to the next generation, in a tax efficient manner, is a key concern for clients of our practice.

When transferring assets to another person (be it to a family member or third party) it is important to ensure that the person transferring the assets retains sufficient post retirement income while also ensuring that any assets transferred are done so with the benefit of any available exemptions or reliefs from gift and inheritance tax.

As well as tax concerns, often there are other factors to consider when transferring assets such as the maturity, capacity and solvency of the person benefiting.

It is highly advisable to seek appropriate tax and legal advice prior to transferring assets in order to minimise gift and inheritance tax and protect the beneficiary and the capital value of the assets.

At Berwick we offer tailored tax and legal advice in relation to the transfer of assets through the use of tax efficient wills, trusts and family partnerships.