Prudential LegacyProtect

home-banner
Protect Your
Legacy

Planning Ahead can bring
Peace of Mind

Planning Ahead can bring Peace of Mind

There are few certainties in life, but this is one you can plan for. The Prudential LegacyProtect Estate Planning Service provides the comfort in knowing your affairs are in order – so you can pass on as much of your wealth as possible when the time comes.

Understanding Inheritance Tax and Inheritance Tax Thresholds

Inheritance Tax is the tax that may be levied on your Estate (in other words your property, money and possessions) when you die.
Inheritance Tax applies to the value of your Estate that exceeds the thresholds set out under the terms of the Capital Acquisitions Tax (CAT) Consolidation Act 2003. The tax is levied at 33%.

CAT Thresholds as of 2022

GroupRelationship to the DeceasedThreshold Amount
AChild€335,000
BParent*, sibling, niece,
nephew, grandchild
€32,500
CAll other people€16,250

Why you should consider the Prudential LegacyProtect Estate Planning Service:

  • Capital Acquisitions Tax (CAT) threshold levels have not been returned to former levels, meaning more and more Estates will give rise to Inheritance Tax for its beneficiaries.
  • The property market has rebounded significantly, with many family homes and Buy-to-Let investment properties contributing greatly to the value of a typical Estate.
  • In the absence of an effective Estate Plan, your loved ones may be forced into the sale of assets to meet a tax bill, even if the prevailing market conditions are not suitable.

How the Prudential LegacyProtect Estate Planning Service works:

Firstly we meet with you to get a full understanding of your financial
position and your intentions for passing on wealth.

We then produce an Assets and Liabilities Report based on your current position,
and we will also produce one for a certain agreed date in the future that is
based on different investment growth rates for the different assets you hold in the plan.

Create a bespoke report that shows the likely Inheritance Tax liabilities for
beneficiaries to your Estate when you die.

Explore and recommend solutions that can be put in place now to help offset the Inheritance Tax liability that your beneficiaries may face.

Put in place agreed measures. We are happy to liaise with your Tax
Advisors and Solicitors where required.

Click here to read about some of the solutions available

Make your wishes known

You can help make life easier for your family by being clear about what you want – while you still can.

Draw up or update your Will – A Will lays out your wishes and is legally binding, which helps avoid any future confusion and time delays.
A Solicitor will be able to help you with this. If you don’t have a Will, the Succession Act determines how your Estate is passed on.

What to expect from Prudential Wealth

  • Financial planning expertise
  • Flexible plans
  • Professional service & advice
  • Clear communication
  • Regular reviews

Speak to our team today
Call us in Dublin 01 4007586
or Wexford 053 9007050

Feel free to contact us today for a no obligation conversation Get In Touch