Family Partnerships as a Flexible Tool for Lifetime Wealth Planning with Andrea McNamara
How can you support your children financially, on your terms, while optimising for tax and retaining control?In this episode, Marc Westlake is joined by Andrea McNamara, Director of Private Client Law at EY Law Ireland, to unpack the often-overlooked but highly effective structure of family partnerships in Ireland.There are some differences between Trusts and Family Partnerships (check out previous episodes for more from Andrea) and Andrea covers these differences, the common structures and benefits and what you should think about when considering a Family Partnership for your kids.Marc & Andrea discuss how this flexible vehicle allows parents to transfer assets to children during their lifetime, without losing control or creating future tax headaches.Main Topics:Understanding Family Partnerships: A practical look at what family partnerships are, how they work in an Irish context, and how they differ from more familiar structures like wills or trusts.Retaining Control While Transferring Wealth: Andrea explains how parents can transfer asset growth to their children while keeping full control over decisions, timing of distributions, and investment strategy.Tax Planning Through Gifts, Loans, and Exemptions: The conversation explores how combining lifetime gifts, loans, and the small gift exemption can reduce future inheritance tax and optimise long-term wealth transfers.When Family Partnerships Make Sense: Marc and Andrea discuss when this structure is appropriate and how it can suit different family and financial situations.Teaching Financial Responsibility Across Generations: Family partnerships can be used as a tool to gradually involve children in wealth management, helping them build confidence and capability before receiving significant assets.Find out more about Andrea McNamara:LinkedIn: https://www.linkedin.com/in/andrea-mcnamara-678921130/EY Law is independent of Everlake and the views and opinions expressed by EY Law are not necessarily the views and opinions of Everlake.Chapters:(00:00) - Introduction to Andrea McNamara(01:26) - What is a family partnership? (03:04) - How equity is structured for children (05:04) - Retaining control while gifting value (07:02) - Using family partnerships for property (08:59) - Gift vs loan: key distinctions (10:44) - Planning with surplus assets only (12:15) - Leveraging the small gift exemption (13:45) - Tax treatment and revenue reporting (16:06) - Administration, filings, and formality (18:43) - Tax filing for children’s share (20:40) - Educational benefits for next generation (22:55) - Trusts vs partnerships: key differencesThanks so much for listening to this episode of the Everlake podcast!If you'd like to work with us, head to https://www.everlake.ie/ and follow the instructions to book a consultation. If you enjoy this podcast, please share it with a friend or colleague and leave us a rating & review on your podcast app.LinkedIn || YouTube || X (Twitter) || BlueskyThis podcast is...
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Tax Traps, Offshore Fund Rules and the Stories You Don’t Hear with Stephanie Wickham (Part 2)
In this follow-up to their in-depth conversation, Marc Westlake is joined once again by Irish tax expert and host of Taxbytes for Expats, Stephanie Wickham for Part 2 of their conversation. Together, they chat about more of the complex and often misunderstood realities facing expats and returning Irish citizens navigating the Irish tax system.In Part 1, Marc and Steph discussed the mainstays of tax advice: what to do, what it costs, and why working with the right professionals matters, especially when you can get a team together.This episode explores the real-world consequences of mismatched or incomplete advice, including probate delays, incorrect tax returns, and harsh surprises around U.S. estate tax and Irish capital acquisitions tax. And the anecdotes they share from their time working in tax and finance is invaluable. (Marc might even share a mistake he made that Steph fixed for him!)Stephanie and Marc explore why joined-up thinking between tax and financial advisors is crucial, the costly risks of DIY compliance, and the challenges of coordinating non-Irish funds with the Irish system. Once again, having two experts in the room like this is rare - make sure you take notes!Main Topics:Common tax mistakes for expats and returnees: Many people unknowingly fail to file correctly or assume foreign income isn’t taxable in Ireland, leading to serious consequences.The importance of joined-up advice between countries: When tax and financial advisors don’t coordinate across jurisdictions, clients can face unnecessary tax bills or compliance issues.How Ireland’s offshore fund regime affects investments: Non-Irish funds can trigger punitive tax treatment, and most investors don’t realise the impact until it’s too late.Why doing your own tax return can backfire: Even experienced professionals make mistakes, and DIY tax filings can result in costly errors and missed reliefs.The real cost of poor or incomplete financial advice: Trying to save on fees often leads to higher tax bills and long-term problems that far outweigh the initial cost of expert advice.Find out more about Stephanie Wickham & Expat Taxes:Expat Taxes Website: https://www.expattaxes.ie/Subscribe to her podcast: https://expattaxes.ie/taxbytes-for-expats-podcast/ LinkedIn: https://www.linkedin.com/in/stephanie-wickham-b4aba13b/ Expat Taxes is independent of Everlake and the views and opinions expressed by Expat Taxes are not necessarily the views and opinions of Everlake.---Thanks so much for listening to this episode of the Everlake podcast!If you'd like to work with us, head to https://www.everlake.ie/ and follow the instructions to book a consultation. If you enjoy this podcast, please share it with a friend or colleague and leave us a rating & review on your podcast app.LinkedIn || YouTube || X (Twitter) || BlueskyThis podcast is intended for information and educational purposes only
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Tax Residency, Domicile & Planning for Expats in Ireland with Stephanie Wickham (Part 1)
Returning to Ireland or moving here for the first time? The tax implications can be complex but with the right guidance, they don’t have to be overwhelming. In this two-part conversation, Marc Westlake sits down with chartered accountant and Expat Taxes founder, Stephanie Wickham, to unpack the critical issues facing internationally mobile families.In Part 1, Marc and Steph explore the common crossroads expats face when seeking financial and tax advice: what to do, what it costs, and why working with joined-up professionals matters. They explain essential concepts like tax residency, domicile and the remittance basis of taxation, while also highlighting how behavioural decisions and lifestyle choices affect long-term planning. Having two experts like Marc and Steph available to discuss tax and finance issues is incredibly rare - that’s why this Part 1 is an ideal listen for anyone in Ireland curious about tax management and rules. And if you’re an expat thinking about a move to or from Ireland, this episode is made just for you.Main Topics:The Power of Collaborative Advice: Marc and Steph explore how working together (tax advisor and financial planner) leads to clearer, more effective outcomes for clients, especially those with cross-border complexities.Residency and Domicile Explained: A deep dive into two key tax concepts in Ireland: residency and domicile, and why understanding them is essential for any expat or returning Irish citizen planning their move.Cost vs Value in Professional Advice: They discuss the true “cost” of advice and why good planning may feel expensive upfront, but often saves tens of thousands in the long run.The Emotional and Lifestyle Dimensions of Tax Planning: Marc and Steph highlight how life events, family decisions, and personal intentions influence tax outcomes and why clarity about your goals is just as important as the numbers.Common Mistakes Expats Make: From mishandled investments to assumptions based on home country rules, the episode outlines the avoidable traps many expats fall into and how to navigate them confidently.Find out more about Stephanie Wickham & Expat Taxes:Expat Taxes Website: https://www.expattaxes.ie/Subscribe to her podcast: https://expattaxes.ie/taxbytes-for-expats-podcast/ LinkedIn: https://www.linkedin.com/in/stephanie-wickham-b4aba13b/ Expat Taxes is independent of Everlake and the views and opinions expressed by Expat Taxes are not necessarily the views and opinions of Everlake.Thanks so much for listening to this episode of the Everlake podcast!If you'd like to work with us, head to https://www.everlake.ie/ and follow the instructions to book a consultation. If you enjoy this podcast, please share it with a friend or colleague and leave us a rating & review on your podcast app.LinkedIn || YouTube || X (Twitter) || BlueskyThis podcast is intended for information and educational purposes only...
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Avoid Greenwashing and Use Your Money for Real Impact As a Sustainable Investor with Gavin Francis
In this episode, John McNicholas sits down with Gavin Francis, founder of Worthstone and a leading advocate for sustainable and impact investing in the UK. Together, they discuss what it really means to invest sustainably, the aspects of funds that are doing the right things for the planet, and how to avoid the buzzwords and glossy brochures.They explore how individual investors can align their money with their values, the difference between “doing less harm” and “doing measurable good,” and why terms like “impact” and “additionality” matter. Gavin shares real-world examples of companies making a difference, explains how regulation is catching up with investor intent, and offers honest insight into the challenges of measuring sustainability in a meaningful way.If you're committed to ESG investing or curious about what it all means, this conversation will help you decide where your money goes to make the biggest impact to your portfolio and the planet.Main Topics:What Sustainable and Impact Investing Really Mean: Gavin Francis breaks down the core concepts—intentionality, additionality, and impact—and explains how these differ from traditional ESG labels.How to Tell if a Sustainable Investment Is Making a Real Difference: John and Gavin discuss the importance of measurable outcomes, the challenges of greenwashing, and how investors can look beyond marketing to assess true impact.Balancing Morals and Money: Can You Do Both?: The conversation explores how sustainable investing isn't just about values—it can also be about smart economics and long-term resilience.Investor Psychology and Behaviour in Sustainable Markets: They examine how emotions, expectations, and FOMO (fear of missing out) influence decisions—and why time in the market still matters more than timing it.Why Financial Advisers Play a Key Role—and Why Many Are Hesitant: Gavin reflects on the advice gap, why some advisers are slow to adopt sustainable strategies, and how client interest may actually be outpacing adviser confidence.Find more about Gavin Francis and his work:Worthstone Website: https://worthstone.co.uk/LinkedIn: https://www.linkedin.com/in/gavin-francis-worthstone/ Worthstone is independent of Everlake and the views and opinions expressed by Worthstone are not necessarily the views and opinions of Everlake.---Thanks so much for listening to this episode of the Everlake podcast!If you'd like to work with us, head to https://www.everlake.ie/ and follow the instructions to book a consultation. If you enjoy this podcast, please share it with a friend or colleague and leave us a rating & review on your podcast app.LinkedIn || YouTube || X (Twitter) || BlueskyThis podcast is intended for information and educational purposes only and does not represent a specific recommendation or advice for an individual to follow. Speak to your financial adviser, in the context of your own personal circumstances, prior to making any financial or investment decisions.This podcast uses the following...
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Choosing the Right Trust For Your Family’s Future with Andrea McNamara
In this episode, Marc Westlake is joined once again by Andrea McNamara, Director of Private Client Law at EY Law Ireland, for a deep dive into the world of trusts in Ireland. They explore when and why trusts are used, the differences between discretionary, bare, fixed, and life interest trusts, and the common misconceptions that can lead families astray.Andrea explains how trusts can be vital tools for protecting young children, providing for loved ones with additional needs, and ensuring smoother, more flexible estate planning. Marc and Andrea also discuss the pitfalls of outdated trust structures, the tax implications families need to be aware of, and the importance of tailored advice based on individual circumstances.Whether you're thinking about your will, planning for your family's future, or simply want to understand how trusts really work in Ireland, this conversation offers clear, practical insights to help you make more informed decisions.Main Topics:The Role of Trusts in Modern Estate Planning: Why Irish trust law is outdated, and how trusts are still critical tools for protecting beneficiaries and managing estates flexibly.Discretionary Trusts and Their Practical Uses: Protecting young children, vulnerable beneficiaries, and enabling post-death tax planning through discretionary structures.Bare Trusts and the Risks of Early Access: How bare trusts are often created unintentionally (e.g., saving for minors) and why parents need to plan for children gaining control at 18.Fixed Trusts: Pitfalls and Tax Inefficiencies: Why fixed trusts can lead to rigid outcomes and higher tax bills, and why they're generally unsuitable for young beneficiaries.Life Interest Trusts for Second Marriages and Family Homes: Structuring inheritances for blended families, protecting a surviving spouse, and using life interest trusts for tax-efficient property planning.EY Law is independent of Everlake and the views and opinions expressed by EY Law are not necessarily the views and opinions of Everlake.---Thanks so much for listening to this episode of the Everlake podcast!If you'd like to work with us, head to https://www.everlake.ie/ and follow the instructions to book a consultation. If you enjoy this podcast, please share it with a friend or colleague and leave us a rating & review on your podcast app.LinkedIn || YouTube || X (Twitter) || BlueskyThis podcast is intended for information and educational purposes only and does not represent a specific recommendation or advice for an individual to follow. Speak to your financial adviser, in the context of your own personal circumstances, prior to making any financial or investment decisions.This podcast uses the following third-party services for analysis: OP3 - https://op3.dev/privacy
About Everlake: Insightful Wealth Management Advice
At Everlake we build strong, long-term relationships with a core group of clients.
We aspire to be the trusted wealth advisors to individuals, families, and businesses, guiding them towards financial security and fulfilment of their ambitions. Operating in an ethical and sustainable manner, and putting the interest of our clients first, our objective is to develop the future of financial planning in Ireland, setting the benchmark for integrity, innovation, and expertise.
When you listen to this podcast, you get direct access to Marc Westlake and John McNicholas, the founders of Everlake. Their wealth management advice from decades of experience will help you find your comfortable, financial position and have your money support your life instead of the other way around.
If you'd like to work with us, head to https://everlake.ie/ and follow the instructions to book a consultation.
If you enjoy this podcast, please share it with a friend or colleague and leave us a rating & review on your podcast app.
DISCLAIMER: This podcast is intended for information and educational purposes only and does not represent a specific recommendation or advice for an individual to follow. Speak to your financial adviser, in the context of your own personal circumstances, prior to making any financial or investment decisions.
This podcast uses the following third-party services for analysis:
OP3 - https://op3.dev/privacy
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