Estate Planning Solutions


Some of the solutions that pinpoint LegacyProtect explores:

‘Section 72’ Life Insurance Policy

A Whole of Life policy can be used to help offset the Inheritance Tax liability. We do this by setting the policy up as a ‘Section 72’ Life Insurance policy. This is a special insurance policy approved by the Revenue Commissioners under Section 72 of the Capital Acquisitions Tax Consolidation Act 2003. It is taken out specifically to help pay Inheritance Tax. The money paid out, when it is used to pay Inheritance Tax, is then not liable to tax.

‘Section 73’ Savings Plan to fund for Gift Tax

A ‘Section 73’ savings plan is a specially approved savings plan (under section 73 CAT Act 2003) whose proceeds can be used to meet the Gift Tax liability that falls due upon receiving a gift (other than from a spouse or civil partner) when the beneficiary’s lifetime CAT threshold has been used up.

Some of the advantages to gifting an asset during your lifetime are:

Assets get transferred earlier.
Any further growth in the value of the asset post-transfer falls outside the CAT regime.

There are certain conditions required for your savings plan to obtain S. 73 status that we will be happy to discuss in more detail with you.

Some other ideas

Bare Trust

A Bare Trust is a Trust that hold assets (such as investments) on behalf of a child, grandchild or young relative. The investments are controlled by a Trustee on behalf of the child until they are 18. Once the Trust is set up, the investment and any gains belong to the child. Any investment growth on the Savings Plan or Life Insurance Investment Bond within the Bare Trust, will be exempt from CAT rules. We can help set up a Life Insurance Investment Bond or Savings Plan under a Bare Trust that runs until the child reaches 18.

Small Gift Allowance

You can receive a gift of up to €3,000 per annum that won’t count towards your relevant CAT threshold. For example, grandparents can gift €3,000 each, per grandchild each year.

We recommend you consult with your Tax advisor and Solicitor when considering Estate Planning advice.

What to expect from pinpoint 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

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