Areas covered include:

1. Gift and inheritance tax planning

Tax and legal advice for clients who may wish to transfer assets to the next generation during their lifetime (or on death) while minimising any capital tax for the beneficiary and ensuring suitable legal structures are in place.

2. Succession planning for family businesses

Advising on suitable structures from a legal and tax perspective to ensure long term financial security for the family while minimising capital tax liabilities for the parent and the next generation/third party purchaser.

3. Trusts for minors/ individuals with special needs

Advising on the tax and legal consequences for clients who may wish to establish trusts to protect minors or individuals with special needs/addictions/marital problems. Such planning can protect vulnerable beneficiaries from receiving benefits until such time as it is suitable to do so while also considering the tax implications of same and using various tax exemptions to minimise tax.

4. Family Partnerships

Limited partnerships can be very useful for clients who may wish to transfer assets to the next generation in a tax efficient manner while also retaining management and control over the assets during their lifetimes.

5. Tax efficient wills

It is very important when making a will to ensure that all capital tax consequences (both in Ireland and in any country where foreign assets are held) are considered in relation to the devolution of assets under the will to ensure there is a maximum use of all inheritance tax reliefs to ensure beneficiaries pay minimum tax.

6. Enduring powers of attorney

When clients are considering putting wills in place it is a useful time to consider establishing an enduring power of attorney which appoints a person to act as an attorney for an individual should they become mentally incapacitated in the future. Failing to put such a document in place can result in the individual (who loses capacity) becoming a ward of court which is a costly and inefficient process through the courts.

7. Offshore trusts

Tax advice for clients who may have established trusts outside of the Republic of Ireland or are in receipt of benefits from same. The taxation of offshore trusts is very complicated from an Irish tax perspective and persons who have established same (or are in receipt of benefits from same) can end up with significant tax liabilities if they do not take advice on them and ensure their tax affairs are in order with Revenue in relation to them.