Trust Funds Are Not Just For The Rich and Famous
About this episode
This episode explains the benefits and intricacies of trust funds, including their use in financial planning and tax strategies.
Book a 1:1 Consultation and Financial Plan with Paul - https://askaboutwealth.ie/consultancy Trust funds separate ownership from control and can help protect young or special-needs beneficiaries, keep assets managed responsibly, and support inheritance-tax planning. The episode compares fixed trusts with discretionary trusts, explains will trusts, and highlights key insights, like capital gains tax on lifetime transfers, CGT uplift on death, and how transferring a home may avoid CGT and affect “Fair Deal” planning. 00:00 Trust Funds Explained 00:52 Why Use a Trust 01:47 Fixed Trust Basics 02:58 Special Needs Planning 05:29 Fixed Trust Tax Perks 06:21 Discretionary Trust 08:09 Trustee Incentives Warning 09:29 Discretion Benefits 10:18 Will Trusts 12:09 Cautions and Tax Traps 13:11 Home Transfers and Fair Deal 14:36 Final Takeaways Hosted on Acast. See acast.com/privacy for more information.
Sponsors
Ask About Wealth
More episodes of Ask About Wealth
- The 5 Biggest Tax Mistakes Irish High Earners Make (And How to Fix Them)
- The Irish Mortgage Market: What Buyers, Switchers and Investors Need to Know
- Get the Best Property For Your Money: The Complete 8-Step Guide
- Borrowing Money Against Your Assets
- How to Get a Better Return on Your Savings
- How to Stop the Irish State Taking 33% Inheritance Tax
Explore listener stats, chart rankings, contacts and more on the Ask About Wealth podcast page.