Cohabiting Couples
D Moloney Financial
Protection Cover For Cohabiting Couples
Most people are aware that all benefits passing between married couples are exempt from Inheritance and Gift Tax. Previously, this relief only applied to “legal spouses”.
As a result of the changes in Finance (No 3) Act 2011 this ‘spouse’ exemption was extended to registered civil partners.
All other cohabiting couples are still treated as strangers for Inheritance and Gift Tax purposes.
The “stranger threshold” (Threshold-Group C) for Inheritance Tax is currently €16,250. Inheritances in excess of €16,250 are subject to tax at 33%.
D Moloney Financial
We Only Work With Trusted Financial Service Providers
Here at D Moloney Financial Services we work with a wide variety of financial providers. This allows us find the best products and offerings for our clients at the best available prices on the market.
The information contained herein is based on our understanding of current Revenue practice as at July 2020 and may change in the future.