Section 73 Policy Saving Plan - Money Maximising Advisors

 Visit:- https://mmadvisors.ie/section-73-policy/

Section 73 Policy is a savings plan taken out by a person who owns assets (Parent/Grandparent) in order to pay for the potential gift tax liability when certain assets (property/cash etc) are passed onto someone else (usually children).

The policy owner pays into this savings plan as normal and after year 8, the funds accumulated in the plan can be used to pay a gift tax liability triggered when assets are transferred. It is very popular for parents who has quite a lot of assets and wish to pass these on to their children while they are still alive.

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