What is the best way to gift inheritances to a non-relative?

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RealDeal

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Good evening,

What is the best option for saving tax for a person who has no siblings and who is looking to gift inheritance to a person who has no blood relationship.

Is there any suggestions regarding significant cash assets and a property in terms of names on accounts etc.

Thanks so much
 
Something to consider?

Two elderly straight men getting married to reduce CAT

https://www.rte.ie/news/ireland/2017/1215/927697-tax-marriage/ Michael O'Sullivan has been best friends with his 85-year-old neighbour Matt for almost three decades, and is now his carer. Speaking on RTÉ's Liveline on Radio 1, Mr O'Sullivan said that Matt told him he was planning on leaving...
www.askaboutmoney.com
 
Very few people I know, in fact none, would refuse a cash gift, regardless of the amount. They'll find ways to diversify in its disposal and no one needs to know anything.
 
RealDeal said:
Is there any suggestions regarding significant cash assets and a property in terms of names on accounts etc
Click to expand...
One of the biggest misconceptions about joint accounts is the idea that you inherit tax free. You don't.
The primary benefit of a joint account, from an inheritance point of view, is that where you hold the account as joint tenants, with the correct mandate in place, the survivor immediately inherits the money in the account, without the need for probate.
This does not change the tax treatment.
 
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