It is December 2006 and your late Aunt has just left you €1 million in Irish bank shares and you go to see an investment advisor for advice on what to do. When you meet they ask you some key questions such as
Types of Life Assurance
There are many types of life assurance which help protect your income and your family from unfortunate events that hit families and individuals throughout their lifetimes. There is level term cover, convertible term life assurance and whole of life cover which lasts for ever until you die. It is very important to know which product suits your needs and what it covers. Therefore when seeking life assurance please ensure you take professional advice and sit down with a qualified insurance professional to explain the benefits whilst the cost should be secondary but is still important.
Mortgage Alert - Check your rate - May save €€€€
Budget 2017
- 2% reduction in DIRT rate to 39% from 1st January 2017; no reduction announced in exit tax rate
- The DIRT rate is to be reduced from 41% to 39% in 2017, with further 2% reductions in each of the following years to 33% by 2020
- No reference in Budget Speech or associated documentation to corresponding reduction in exit tax on life assurance policies. If the exit tax rate is not reduced in a similar manner to DIRT this, combined with the 1% insurance tax, will place deposit Tracker Bonds at a considerable advantage over equivalent life assurance Bonds.
Budget 2017! What’s in Store for You and your Family?
With Budget 2017 around the corner we are all wondering what the announcements will be and how they will affect our wallets at the end of the day.
For us here in Financial Planner.ie, we have been watching the news closely to see how we can help clients with everything from Mortgages, Pensions and Life Insurance products.
Mortgages are an obvious area for us, and the proposed scheme to support First Time Buyers allows us the opportunity to offer our independent financial expertise. The government is looking at supporting this market by way of a tax rebate towards the purchase of new properties. More to follow next week.
With over 30 years of experience offering independent financial advice, we have a mortgage approval success rate of 98%. We work with over eight lenders whom we can source the best rates for you within 24 hours.
Personal protection planning, how does this relate to Budget 2017? Well for example, in the instance of co-habiting couples who have taken out a joint Protection Policy who, in the event of an untimely death of one party there would be tax implications for the surviving party on the payout. As there will most likely be small changes to the reliefs or Capital Acquisitions Tax (CAT), we as Qualified Financial Advisors would be in a position to advise and direct couples to financial solutions in this area. Here at Financial Planner.ie, we can take you through all the steps. At times it may seem like a minefield but actually it is very simple and would be our pleasure to take you through the steps involved on a one-to-one basis.
Call us at our office on 01 627 9495 and we can arrange a meeting to discuss your financial planning.
What Should You Be Protecting
If you earn an income, own a home, have a family, a business or an investment property, then protecting you and your family against the financial impact of ill-health, terminal illness or death is one of the most important decisions you can make.
You can’t predict what is going to happen from one day to the next but you can prepare for it. Having the facts to hand means you can make an informed decision on what life insurance you and your family need.
WHAT SHOULD YOU BE PROTECTING?
We insure our home, our car, our holidays and sometimes even our family pets but the very thing we often overlook to insure is the most important of all, ourselves and our families.
Many people do not realise the financial impact that an unexpected serious illness, injury or premature death can have on a family. The unfortunate reality is that Irish families are struck by these events every day and the financial impact can be significant and long lasting.
Having a life insurance plan is an effective way of providing peace of mind knowing that should the worst happen, your loved ones will have the financial security they need at such a difficult time.
You can set up your life cover to pay a lump sum amount, a monthly income amount or both.
Lump Sum on Death Benefit: this pays out a lump sum in the event of death, or in certain circumstances on diagnosis of a terminal illness, during the term of cover.
Income on Death Benefit: this pays out a monthly income on death or, in certain circumstances on diagnosis of a terminal illness, for the remainder of the term of cover.
Whole of Life Benefit: this pays out a lump sum of up to €50,000 on death. The difference with this benefit is that it will be paid out even if death occurs following the end of the term of cover for the main benefits. If, for example, your term of cover ends at age 65 for other benefits and you die at age 90, this benefit will still be paid out provided that you have paid all premiums when due.
Contact us today..Info@financialplanner.ie for more Info about what we can offer you and your family.
Protecting Your Family, could start today!
When is comes to life assurance, where is a good place to start? at what age? and how much will it cost?
These are questions we ask ourselves. But you can start at any age, with some plans costing as little as 15 Euro upwards each month.
We have packages that are designed for today's homes, families and busy lifestyles that we all have.
How to get a mortgage ?
Mortgages How to secure a mortgage? One of the basic things in life is to own your own home which has proven to a very difficult process in Ireland due to bad management of the property market by successive interested parties. The key to securing your own home is planning the purchase, deciding on a budget and preparing for mortgage approval. You must do the following If paying rent make sure it is mandated through your bank statements Save on a monthly basis and make sure this is visible on your bank statements or credit union statements Do no borrow small personal loans ahead of securing mortgage approval Pay off small loans out of savings ahead of mortgage approval Save a minimum of 10% if not 15-20% of the house price purchase Ensure you are in permanent position for at least 12 months ahead of applying
What Budget 2016 said about Local Property Tax
"I will be making a proposal to government to postpose the revaluation date for the Local Property Tax from 2016 to 2019".
"The postponement of the revaluation date means that homeowners will not be faced with significant increases in their LPT in 2017 as a result of increased property values".
In Focus: renovating your home
Budget 2016, extended the government's popular Home Renovation Incentive (HRI) scheme for a further year.
The HRI scheme provides homeowners with an income tax credit of 13.5 per cent for qualifying expenditure on repair, renovation or improvement work carried out on their homes, once the work is done by tax-compliant contractors. "Tax relief can be claimed on qualifying expenditure over €4,405 (before VAT at 13.5 per cent) per property".
Tax credit will only be given in relation to "a maximum of €30,000 (before VAT at 13.5 per cent) per property".