O'Sullivan Law Partners

20/11/2025

Great to see some of our solicitors attending at the Law Society event on A.I in Kilkenny today.

22/07/2025

Great to hear our Therese Kearney; Solicitor on East Coast FM this morning!

20/06/2025

Congratulations Donal, you will be a fantastic representative for the county! 🙌

19/04/2025

Happy Easter from Donal, Ian, Therese and all the our staff at O’Sullivan Law Partners!

26/03/2025

Purchases, sales, re-mortgages and everything else. 🏠 🔑 📝

21/03/2025

New name, new team, new Gorey office!
Now in Arklow & Gorey

13/03/2025

07/03/2025

From all at O’Sullivan Law Partners!!

21/02/2025

🎁 Let’s chat about GIFT TAX…. 🎁

We are often asked what to do if you want to gift money 💰 or assets 🏘️ to your children or immediate family, then you have to consider Capital Acquisition Tax (otherwise known as gift tax). Gift tax in Ireland is 33%.

👦 Any child now has a lifetime limit of €400,000 before they are liable to pay any gift tax.

You can gift a further €3,000 to your children or in fact to anyone each year which will not be subject to gift tax.

If there are 2 parents who wish to gift to a child then, the child can receive up to €3,000 per year from each parent without having to pay any gift tax, which is €6,000 per year. 💰 💰

If you have a daughter and a son in law and 2 grandchildren, then you and your spouse can gift €3,000 to each of these people per year. That means each parent could gift (4 x €3,000) €12,000, which is a total of €24,000 per year from the two parents to their daughter and her family without paying any gift tax.

If your gifts 🏘️ 🏘️ 🏘️ are likely to exceed these limits in the future, you can set up a savings policy now, called a Section 73 savings policy which you must keep in place for a minimum of 8 years and the proceeds of this savings policy can be used to pay the future 33% gift tax.

So there are ways to avoid paying gift tax, as long as you plan it properly!

Great advice out there if you just ask!