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TAX EFFECTIVE ESTATE PLANNING

The carefully planned transfer of assets and estates to the next generation is ...
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PROVIDING FOR A DESERVED STANDARD OF LIVING IN RETIREMENT

Planning for retirement is a career long process that is greatly attractive due to the tax breaks ...
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INVESTMENT PORTFOLIO CREATION & MANAGEMENT

City Life Wealth Advisors has been in business for over 36 years. Many of our clients have…
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WEALTH CREATION AND INCOME PROTECTION

Wealth advice can be just as important for those early on in their careers as those ...
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CityLife: Wealth Advisors

SERVICES

TAX EFFECTIVE ESTATE PLANNING

The carefully planned transfer of assets and estates to the next generation is a much sought after service from City Life Wealth Advisors. Recent falls in the value of personal assets has focused people’s minds more than ever, with independent financial advice being the first step in getting our clients’ long term goals back on track.

Foremost in many people’s minds is the process of moving their assets, and indeed their businesses, to the next generation. How they can do this tax efficiently and in a well planned and thought out way is a challenge. Tax planning, whilst important, is not the only motivation for carefully managing assets as we get older. Here at City Life we are conscious of managing the family dynamic and the importance of passing assets and a family business in an equitable and conscientious way to the next generation. Your City Life advisor will work with you to provide a clear road map for this process.

In analysing and making recommendations in relation to matters of estate planning we consider the following elements:

• Making use of the tax free gift thresholds between parent and child
• Availing of the annual tax free small gift allowance between all individuals
• Using, when possible, the tax advantages of Approved Retirement Funds (ARFs) to coordinate the estate
• Transferring business assets to children working in the family business whilst transferring other accumulated assets (including retirement funds) to those not involved with the family business
• Careful planning and construction of the Will and the consideration of arranging a tax payment insurance policy to pay the estate taxes.

With major reductions in estate values this is naturally a very good time for action, as estate values in 2009 could now be down 30% to 40% on what they were 2 years ago. In the 2009 Finance Bill the Minister for Finance reduced the threshold for gifts and increased the tax payable. It is not known what further changes might be incorporated in the next finance bill so it is probably advisable to get advice now.

Ted Dwyer, City Life Managing Director

PROVIDING FOR A DESERVED STANDARD OF LIVING IN RETIREMENT

Planning for retirement is a career long process that is greatly attractive due to the tax breaks available and the peace of mind it will create as we look towards retirement. Funding one's pension is the most tax efficient form of savings that any of us will ever experience. At City Life Wealth Advisors we believe in actively managing one's pension fund, both before retirement and, in many cases, after retirement.

One's retirement fund has great scope from an investment point of view and we believe in not simply settling for average investment returns. By frequently meeting with our clients, and by encouraging them to set financial targets, we can pass on our expertise in the investment markets to our clients, ensuring they are making the most of their retirement fund.

Retirement planning can be a difficult science at the technical level; however, it can be so straightforward conceptually! We endeavour to pass relatively straight forward concepts to our clients, while taking care of the technical side for them.

Importantly, we will always stress that funding for retirement should take account of the income levels that this projected fund could produce. Our goal is to provide our clients with the tools to maintain a deserved standard of living in retirement.

INVESTMENT PORTFOLIO CREATION & MANAGEMENT

City Life Wealth Advisors has been in business for over 36 years. Many of our clients have been with us since day one, and they are a testimony to taking the “long term view”. To truly gain from investing in pooled investment vehicles, where the assets are managed by the most qualified people in the business, we subscribe to proven economic fundamentals and shy away from fly by night investment ideas.

We aid our clients in the investment process by meeting them regularly and recommending the best options for them based on their ever changing financial situation and investment experience. Wealth advice requires an in-depth knowledge of the client as much as a well researched knowledge of the investment world. The secret is in marrying the two.

At City Life we have no hidden agenda, and are completely independent of any bank, insurance company or investment house. We will always take our clients overall asset bank, including properties, into account before making investment recommendations, as diversification is the true key to reducing risk in investment.

Dermot O’Mahoney, Director

WEALTH CREATION AND INCOME PROTECTION

Wealth advice can be just as important for those early on in their careers as those who are well on their way through it. Advice on how to get the building blocks in place at an early stage can be the most valuable advice a successful business person will ever receive.

Savings and lump sum investments, if invested wisely, can provide the means for funding property purchases, education fees for children and other items which can be difficult to fund from day to day income.

One's career earnings are the main means of generating income, but this must be insured and protected in the event of an unforeseen change in personal circumstances or state of health. At City Life Wealth Advisors, we can provide unbiased advice on the best types of savings, investments and personal insurances in order to protect ones income and wealth building ability.