Irish Times deputy business editor, Dominic Coyle, and trust and estate practitioner,Trea McGuinness, discuss what’s set to be the biggest transfer of generational wealth ever in Ireland. That’s because the over 65s own the lion’s share of the country’s private wealth and they’re set to pass on billions of euro – much of it tied up in property – over the coming decades. But McGuinness, who’s a partner with BHSM, emphasises it’s important for younger people to draw up a will and not to fall into the trap of thinking they don’t have an estate to pass on. In this conversation with host Aideen Finnegan, they discuss whether it’s better to gift assets while alive, the risk of people impoverishing themselves to leave money behind, and how inheritance can trigger bitter family disputes. The episode also covers intestacy rules, rights of residence complications, divorce and capital gains issues, blended families, cohabiting couples being taxed like “strangers.”
This episode is for information purposes only and does not constitute financial or legal advice.
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