Sunday Independent writing rubbish about CAT

[NoRegretsCoyote]

Serious question. Supposing I am an Irish-resident multi-millionaire. The bulk of my wealth is in publicly-quoted shares of the company of which I am CEO. I have a few other investments and a very large PPR. I want my children to inherit it all in equal shares.

How do I avoid my children paying CAT when I die? I don't want to move abroad.

 

[Zenith63]

Most businesses fail and there are carve-outs for ‘makey-up’ property-type businesses. Plus there’s an element of forcing the child down a particular path (not in terms of being involved day-to-day but more generally). I’d question the wisdom of such an approach.

Yep I'd agree with you questioning forcing a child down that route, just saying I see it quite a bit by those doing more aggressive estate planning, though by no means talking about very wealthy individuals with their own money managers.

One thing I would say is that most business fail because of lack of start-up capital, I imagine the statistics look very different if you're starting with your €5m example on-tap, you can buy your way into plenty of business areas with that kind of money. Even if you don't have that kind of money but are well connected and business savvy, bringing your maturity to a young business would change the statistic drastically. Again talking from experience.