Protection
Family
Protection
Family /personal protection benefits are essential
to put in place to safeguard you and your families existing
lifestyle and to protect future earnings.
Your income could suffer as a consequence of premature death,
serious illness or disability. We can help you ensure that you have
sufficient benefits in place to make up this income shortfall.
Structuring these benefits in the correct way can also result in
substantial tax savings.
Mortgage Protection
This cover is required by your Bank or Building Society to be used
as security for your mortgage. Cover can be arranged on a reducing
or level basis and can incorporate critical illness if
required.
Critical Illness Protection
Critical Illness Cover will give you peace of mind as it provides
a lump sum payment on the diagnosis and certification of a
prescribed serious illness. With this cover, you make a monthly
payment which guarantees you a lump sum if you suffer from one of
the specified critical illnesses. This can help with medical bills;
mortgage repayments, childcare costs and day to day expenses,
meaning you can concentrate on getting back to full health once
again.
Income Protection
Your income is directly related to your ability to work.
This in turn is dependent on your continued good health. A
deterioration in health due to illness for any prolonged period
would have a serious effect on your income. An Income Protection
Plan is a way for you to guarantee yourself an income in the event
of being unable to attend work due to long-term illness, injury or
accident. In your situation being self employed and the
principal earner in your household, without your earnings, it may
be difficult to afford medical treatment and pay for all the day to
day expenses we all take for granted. Your overall standard
of living would suffer greatly. Typically under this
arrangement up to 75% (subject to certain limits) of your earnings
can be protected. In the event of long-term illness, your
earnings would be paid during the course of the illness through to
recovery, or age 65, whichever occurs first.
Keyman and Company Director
Shareholder Protection
In addition to the personal tragedy following the death or serious
illness of a key employee, Co-Director or partner, the survival of
the business might be at risk.
Company director or Keyman insurance can help solve the financial
problems that can arise from the death or serious illness of one of
these individuals
Inheritance Tax Planning
Transferring wealth to the next generation is a subject that most
people think about at one time or another. Having accumulated
wealth during your lifetime, how can you ensure that this wealth
gets passed to the next generation in the most tax efficient
manner? Could your portfolio of assets be significantly eroded by
Capital Gains and Capital Acquisitions Tax?
We can provide you with independent advice helping you to put
plans in place to ensure the tax efficient transfer of your assets
during or after your lifetime.
Capital Acquisitions
Tax
Gift tax is charged on taxable gifts taken on or after 28
February, 1974, and Inheritance Tax is charged on taxable
inheritances taken on or after 1 April, 1975. An inheritance is a
plus benefit taken on a death and a gift is a gratuitous benefit
taken otherwise than on a death.
The tax is charged on the taxable value of the gift or
inheritance. The taxable value is arrived at by deducting from the
market value of the property comprised in the gift or inheritance
permissible debts and incumbrances and any consideration paid by
the beneficiary.
Once the taxable value of the gift or inheritance has been
determined the amount of tax payable will depend on whether the
appropriate tax-free threshold has been exceeded. The rates of tax
are as follows-
*This rate was introduced on 7 December 2011.
Gifts or inheritances of Irish property are liable to tax
whether or not the disponer is resident or domiciled in Ireland.
Foreign property is liable to tax where either the disponer or the
beneficiary is resident or ordinarily resident in Ireland at the
relevant date.
CAT
Thresholds
