Wealth management: the importance of long-term planning

Families sometimes lose sight of the purpose of accumulated wealth

15th May, 2016
Watch your money grow Pic: iStock

The small gift exemption can be a useful tool for families seeking to maximise their wealth. An obvious example would be grandparents who transfer a total of €30,000 per annum to their son, daughter-in-law, and three grandchildren. Assuming that the respective €280,000, €15,075, and €30,150 tax-free thresholds of the son, daughter-in-law and each grandchild will be utilised in the future, such planning saves about €10,000 per annum based on the current 33 per cent rate...

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