Estate Planning

Estate Planning involves passing on your estate in the most tax efficient manner, through the use of “Section 72 whole of life assurance”, to cover the inheritance tax liabilities of your beneficiaries. We provide free quotes, consultation and advice with full market comparison.

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Estate Planning top-tips
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Estate Planning top-tips

  1. Be sure to a make will.
  2. Consult your solicitor on advice relating to the distribution of your estate when making your will.
  3. If you have a number of assets beyond your family home and deposits to pass on in your will, be sure to consult a tax adviser in addition to your solicitor.
  4. When you are satisfied that the inheritance tax liability has been accurately calculated, come to One Quote to ensure best value for money in effecting your section 72 whole of life insurance policy.

Estate Planning – Section 72 Life Assurance Provision – Inheritance Tax

We Make It Simple

At, we are committed to making estate planning, Inheritance Tax provision made simple.

We offer professional advice regarding estate planning and specifically the use of a Section 72 Life Assurance policy to pay inheritance tax.

We compare the market for the best cover product and then match it with the best competitor price, so you have a guarantee of the best value cover on the Irish market.

Interesting there is now a policy option that we make available which includes a life changes option, which allows a refund of up to 70% of your premiums after 15 years have passed in case you have sold some assets or your circumstances have changed, enquire now!

Section 72 – Whole of Life Assurance

Section 72 provides for the exemption of the proceeds of certain qualifying life assurance policies, in so far as the proceeds are used for the payment of inheritance tax arising on the insured person’s death, or within a year of his/her death.

You can use your Whole of Life Assurance  policy to help offset this inheritance tax liability. You do this by setting it up by what is known as, a Section 72 Life Assurance policy.

This is a special insurance policy approved by the Revenue Commissioners under Section 72 of the Capital Acquisitions Tax Consolidation Act 2003.

It is taken out specifically to help pay inheritance tax. The money paid out, when it is used to pay inheritance tax, is then not liable to tax.

With enough cover in place you can protect your loved ones from an inheritance tax bill. Otherwise, they may have to sell the family home or take out a loan to pay the tax. So setting up a Whole of Life policy this way, can ensure that your assets can be passed on and enjoyed by your loved ones rather than being used to pay a tax bill.

To view current CAT tax-free thresholds click here.

Estate Planning – Frequently Asked Questions

What is inheritance tax and who pays it?

It is a tax on the value of property and all other assets that people receive from you, when you die. While there is no limit on the amount you can inherit from your spouse or civil partner, however if your co-habiting partner, children and other relatives inherit assets from you, they may be liable to pay a significant tax bill.

What rate of inheritance tax is charged?

Inheritance tax is charged at a rate of 33% on chargeable assets left after your death, after the deduction of any tax-free threshold or business property or agricultural reliefs. Notably, tax is charged on assets located abroad also, where the deceased or the beneficiary is resident in Ireland.

What are the tax-free thresholds?

On or after 10/10/2018, a child can inherit €320,000 inclusive of all gifts and inheritances, brother/Sister/Niece/Nephew/Grandchild €32,500 and any other relative €16,250.

How can I prevent revenue from taxing my estate on death?

No, not if amounts fall above the thresholds, but a practical solution is to arrange a Section 72 whole of life policy on your life (and that of your spouse, if applicable), which would be used to pay the Inheritance tax when it falls due. The premiums could be funded by you or your children.

How do I calculate the level of life cover needed?

You could visit your solicitor or tax adviser, or come to us in the first instance. Once the liability is calculated, we can then provide you with the best value Section 72 whole of life policy on the market.

Why choose for my Section 72 - Life policy?

One Quotes qualified financial advisers have decades of experience in assisting and advising clients in relation to inheritance tax and can provide the most cost effective simple solution.