In this week's podcast, I cover a topic that I did a couple of years ago. FET is still an issue that I believe awareness is still not as wide as it should be.
Potential Federal Estate Tax (FET) on US-based assets is critical for for us all to be aware of, and is often unknown. If you have more than $60k worth of assets domiciled in the USA, could this be a lurking menace in your wealth??
There are a huge number of people here in Ireland, c20,000 in the top 5 US companies alone, who are receiving US stock options and who therefore own US assets.
I hope this helps.
This week's podcast was a difficult one to do, and I'm still not sure if it's appropriate or not for this space, but my intent is to look for the positives, and to be reminded of a few key principles, financial and non-financial. I hope it helps, both you and I!
For those looking to pass on wealth while trying to simultaneously reduce tax on the proceeds, Section 73 investment plans offer a potential solution. These plans are specifically designed and sold to try manage Capital Acquisitions Tax (CAT) liabilities on gifts, and to provide a potentially tax-efficient way to transfer assets to loved-ones. But do they work? Lets explore!
I hope it helps.
Paddy Delaney QFA RPA