Ireland AM interview with Tommy Bowe and Muireann O’Connell

I was delighted to be invited back on to Ireland AM recently to chat with Tommy and Muireann about the importance of having a Will.

We discussed why every adult should think about making a Will – if you have any assets, such as a property, or a life policy, or a pension with work, or if you have kids…. you should have a Will.

We talked about what happens if you don’t have a Will – your beneficiaries could be family members that you wouldn’t want to inherit at all, or they could get caught with a large inheritance tax bill that could easily have been avoided. You should be the one to decide who inherits from your Estate after your day.

Muireann was surprised at the low tax-free thresholds. Whilst the threshold from parent to child is €335,000, other relationships are not so lucky. For brothers, sisters, nieces, nephews, grandkids, the tax-free threshold is only €32,500, and for friends, or partners (unmarried) the threshold is €16,250. Any amount above these thresholds is taxed at 33%. If this is news to you also, why not contact us to see if there are ways to reduce this tax, by making your Will.

susan@makemywill.ie