Did you know that generally only married couples and registered civil partners are exempt from Inheritance Tax?
This means, if you are living with your partner, you may have to pay Inheritance Tax on the lump sum payment from a life insurance policy and even on your house if jointly owned.
Inheritance Tax is currently 33% and this is deducted from any inheritance above the threshold of €16,250.
If you are a cohabiting couple and want to ensure that your life insurance policy and/or house is secure against Inheritance Tax contact us and we will review your options with you.
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