Brendan Burgess
Founder
- Messages
- 53,185
There’s still time on both fronts.I am neither married nor an expert on tax
This strategy is not necessarily the best one in this case...Investment implications
Investments such as property or shares should be in her name so that the income is hers.
You should aim for investments which generate taxable income rather than life funds where there is no income tax.
You should aim for investments which pay dividends rather than for investments where the return comes from capital gains.
Yes, but only when he claims his own contributory pension.If the husband retires he is entitled to an increase for a qualified adult dependent depending on his wife's earnings and assets?
YesThe husband's earnings and assets are not relevant.
Yes, but.The wife's age is not relevant.
I am not certain on this but I think that if the wife had a smaler welfare payment this might be deducted from the Increase for a qualified adultIf the wife is getting any social welfare payment in her own right, the husband will not get a dependent adult payment for her.
Yes that would be a good strategy.1) Before the husband qualifies for the Contributory State Pension, the assets and income should be in his wife's name to make sure that she earns up to €33,000.
Definitely this is a good idea. I don't know if it would be allowable to do this immediately before he claims his pension. Maybe it would need to be done a few years before retirement.2) Just before the husband retires, this should be reviewed. It may make sense to transfer all the assets into his name so that she will have no income or assets and he will qualify for the extra €13,000 a year.
If she will be getting a full pension, or a pension over 248.60 euro, Yes.3) If she is also in receipt of the Contributory State Pension, it is probably better to leave the assets and income in her name.
She won't get a contributory pension under age 66.4) If she is younger than he is she won't be getting the Contributor State Pension when he starts getting it.
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