With Inheritance Tax Planning Insurance, the need to provide for loved ones after you die is an important issue, with a little planning under a very clever yet largely unknown revenue approved life plan, you can ensure that your beneficiaries pay minimal tax on their estate with Inheritance Tax Planning Insurance.
Section 72 Inheritance Tax Life Plans
Inheritance tax is a tax due when someone inherits money, property or other assets and is normally payable very shortly after the death of the person they are inheriting the assets from. Since the last budget, it has now become punitive and could reduce your estate substantially.
The solution to cover the tax bill is to take out Life Long Cover (Inheritance Tax Plan) which will provide life cover to be paid after you die. It is designed to help you provide the funds for your family to pay inheritance tax arising in the event of your death in a tax efficient manner. The plan will provide a cash payment when you die which the executors of your estate can then use to pay the tax bill. The beneficiaries will not normally have to pay inheritance tax on the Inheritance Plan cash payment once they use it to pay inheritance tax.
Budget 2019The Group A tax-free threshold, which applies primarily to gifts and inheritances from parents to their children, was increased from €310,000 to €320,000.
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