Grandparent to grandchildren

furry

How would a living grandparent give assets/cash to grandchildren in the most efficient manner? Be it while the grandparent is living or deceased. The grandchildren are all minors.

This would have to be in a manner that excludes the the grandparents child (parent of the children) as there would be no guarantee the assets/cash would get to the grandchildren. If you get me! Thanks.

Frynge

I would take a stab in the dark that some kind of trust or savings bond in the grandchilds name would probably do it but i also think it would be quite complicated and maybe an accoutant specialising in sucession (i think) would be the best place to start.

Pawwed Rig

Yeah a tax advisor would be your best bet. What level of income are we talking here? The thresholds for CAT are not huge for grand parent to grand child.

A person can take advantage of the small gift exemption and transfer €3k per annum to an account in the child's name with no tax implications.

furry

Thank you. There's 3 grandchildren - can it done yearly and for each grandchild?

The income would take advantage of whatever threshold it was so 9k would be feasible

Pawwed Rig

Yes €3K per person

Peregrinus

But if the kids are underage, you do have practical problems. If the grandchild is 17 and what you want to give him is cash, that's easily doable. But if he is seven and you want to put land or shares in his name, that's a different kettle of fish. The OP suggests you can't rely on the child's parents and may need to protect the asset from them, so you're looking at some kind of trust, which needs (responsible, adult) trustees, and careful tax advice. That gets very complicated very quickly.