Cathedral Financial Consultants Limited, advising clients since 2003.
Providing Tax Efficient Inheritance Planning.
Take control of your money and your future, today.
Providing benefits for business owners and their employees.
Take control of your money and your future, today.
Inheritance Planning
Many clients have concerns about passing on assets to the next generation in a tax efficient manner. In addition to advising them to have a valid will in place, there are several key considerations that are always worth discussing.
Section 72 Plans
A section 72 Policy, when correctly established, can significantly reduce or eliminate the inheritance tax liability faced by your loved ones. Proceeds of such a policy are not liable to tax in the hands of the recipients, provided they are used to offset inheritance tax. They can also be used to provide valuable liquidity to meet pending inheritance tax bills and therefore avoid the need to liquidate other assets such as property which may be slow to sell or have a sentimental attachment.
Section 72 Plans
A section 72 Policy, when correctly established, can significantly reduce or eliminate the inheritance tax liability faced by your loved ones. Proceeds of such a policy are not liable to tax in the hands of the recipients, provided they are used to offset inheritance tax. They can also be used to provide valuable liquidity to meet pending inheritance tax bills and therefore avoid the need to liquidate other assets such as property which may be slow to sell or have a sentimental attachment.
Regular Investment Plans (In Trust)
The annual gift tax exemption in Ireland is €3,000 at present. This means that the first €3,000 received from any person in a calendar year is not included for inheritance tax calculations. This can be a useful way to pass on funds without creating an inheritance tax liability. Writing the plan in trust is an added benefit if you prefer the beneficiary not to have immediate access to the funds.
Regular Investment Plans (In Trust)
The annual gift tax exemption in Ireland is €3,000 at present. This means that the first €3,000 received from any person in a calendar year is not included for inheritance tax calculations. This can be a useful way to pass on funds without creating an inheritance tax liability. Writing the plan in trust is an added benefit if you prefer the beneficiary not to have immediate access to the funds.
Life of Another
How a life cover policy is established is of particular importance for individuals who are cohabiting. Holding a life policy on the traditional ‘joint life’ or ‘dual life’ basis can lead to unintended inheritance tax liabilities. In such circumstances it is worth considering the merits of setting up a policy on a ‘life of another’ basis.
Life of Another
How a life cover policy is established is of particular importance for individuals who are cohabiting. Holding a life policy on the traditional ‘joint life’ or ‘dual life’ basis can lead to unintended inheritance tax liabilities. In such circumstances it is worth considering the merits of setting up a policy on a ‘life of another’ basis.
Treatment on Death
How your retirement plans are treated on death are governed by the type of structure that they are held in. Many clients are surprised to learn that the rules vary significantly across the various structures including Personal Pensions, PRSAs, Executive Pensions and Approved Retirement Funds. The interaction with Death in Service benefits is also worth reviewing to minimise the tax implications on death where possible.
Treatment on Death
How your retirement plans are treated on death are governed by the type of structure that they are held in. Many clients are surprised to learn that the rules vary significantly across the various structures including Personal Pensions, PRSAs, Executive Pensions and Approved Retirement Funds. The interaction with Death in Service benefits is also worth reviewing to minimise the tax implications on death where possible.
Our Services
Financial Planning
Whatever your goal, take control. Cathedral can help you secure the financial future you desire.
Whether it's saving for a mortgage, protection against the unknown, or investing in your future, our team of advisors are here to help.
Life, Critical Illness & Income Protection
Life insurance pays out on the policyholder’s death.
Critical illness cover & Income protection offers financial protection in the event of a serious illness or injury.
Pension Planning
Take control of your pension and ensure you're on track to achieving your retirement goals.
At Cathedral, our experienced team advisors will review the market to find the best pension plans for you.
Employer & Employee Benefits
Protection for business owners and key personnel, in the event of death, serious illness.
Retirement plans, death in service & income protection for employees.
Savings & Investments
Whether it's saving for a first home, second home, education or investing for your future, Cathedral are here to help advise on risk management, funds that meet your needs and investment strategies.
Inheritance Planning
Whether you're receiving an estate or leaving one, there's tax considerations to take into account.
At Cathedral, we advise on estate planning to ensure no ambiguity and best methods for either scenario.
Frequently Asked Questions
We’ve put together the following simple answers to questions frequently thought, but rarely asked, about professional financial advice.
Do I need a financial advisor?
If you’re facing a big decision on which a lot of money depends, advice can be invaluable.
Things like setting up a pension, buying a home or planning for retirement may be rare or even one-off events, so you will probably have very little experience on which to base these crucial choices.
And though you may seek guidance from friends and family, or online, neither of those can give you as much confidence as unbiased advice from an experienced professional.
How can a financial advisor help me?
A financial adviser will do much more than simply tell you where to put your money.
The whole point of advice is to make your money work for you and help you achieve your goals in life.
So a good adviser will look at your circumstances as a whole, from your current situation to your medium and long-term future, to help you decide upon the best action to take.
For example, if you want advice on how to access your pension, your adviser will first take time to discuss your plans for retirement, and so assess your changing income needs over time. Only then will they start to recommend strategies and products.
Last but not least, an independent or whole-of-market financial adviser can find the most suitable products for you from all that are available.
They will also ensure that the chosen product is the best possible fit for your particular circumstances.
Can I afford a financial advisor?
Cathedral Financial firmly believe that financial planning is everyone.
Our aim is to ensure that our knowledge is within reach and our charges remain open and comprehensible for every client we serve.
We maintain complete transparency about our remuneration structure, guiding each phase of the process steadily.
Our initial interaction with every client is a cost-free discussion, enabling us to evaluate the scope of our assistance and provide a comprehensive overview of potential expenses and fees related to our services.
When should I contact a financial advisor?
There are many occasions in life where advice can make a big difference – some more obvious than others.
Most people who contact an adviser do so when facing one or more of these decisions.
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- Starting a pension
- Saving for / buying a home
- Investing
- Marriage / starting a family
- Making a significant career change
- Starting or running a business
- Planning ahead for retirement
- Taking an income in retirement
- Planning life after retirement
Other reasons for seeking financial advice may include moving abroad, getting divorced, arranging for yourself or a relative to go into long-term care, or any situation in which you may need to take out a financial product, such as a mortgage, insurance, or a pension arrangement.
What qualifications do financial advisor have?
In Ireland, financial advisors are subject to effective regulation, providing assurance that the expertise you receive is dependable. When choosing your financial service providers, it's important to consider different levels of financial qualification.
The baseline requirement for an in-person financial advisor is the Qualified Financial Advisor (QFA) qualification. Additionally, financial advisors might have pursued additional training, like the Specialist Investment Advisor (SIA) qualification or the Certified Financial Planner (CFP) qualification.
Adherence to standards set by The Central Bank mandates that all financial advisors continually engage in professional development. This practice guarantees the relevance of their advice and the currency of their knowledge.
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