I’m trying to help my 76yo mother-in-law get her messy finances in order. Big thanks in advance for any advice.
She was badly burned by overexposure to Irish banking shares a decade ago, and is understandably nervous about making the right decisions.
Long story short: she has a handful of investments, some quite ill-advised, worth about €850k. I’m guessing these should be consolidated into an ARF, or a similar type of retirement vehicle. I’m wondering:
The investments include €150k in two (very poorly) managed funds with one of the big firms; €325k in a dozen shareholdings in UK and Irish bluechips; €300k in State Savings Certificates and Bonds; and €90k in a fixed deposit account.
At her age I think it’s crazy to hold on to these. I just don’t want to screw up while selling them and moving the proceeds, and find out that she’s hit with avoidable CGT or other costs.
Any suggestions appreciated.
She was badly burned by overexposure to Irish banking shares a decade ago, and is understandably nervous about making the right decisions.
Long story short: she has a handful of investments, some quite ill-advised, worth about €850k. I’m guessing these should be consolidated into an ARF, or a similar type of retirement vehicle. I’m wondering:
- Is this the right approach?
- What considerations should she keep in mind?
- How should she go about it? Especially keen to minimise tax liability along the way
The investments include €150k in two (very poorly) managed funds with one of the big firms; €325k in a dozen shareholdings in UK and Irish bluechips; €300k in State Savings Certificates and Bonds; and €90k in a fixed deposit account.
At her age I think it’s crazy to hold on to these. I just don’t want to screw up while selling them and moving the proceeds, and find out that she’s hit with avoidable CGT or other costs.
Any suggestions appreciated.