Intergenerational wealth can be defined as the transfer of assets, from one generation to the next, to help financially support family members during their lifetimes. This is usually via inheritance or gifts. It is becoming an increasingly important topic as ‘the great wealth transfer’ begins. Despite global economic weakness, £5.5tn will pass between generations in the UK over the next 30 years. We are shifting towards an inheritance economy as more than a million adults are expected to receive an inheritance in any given year.

This will create a whole new generation of wealth, owned by individuals with different priorities, goals and challenges. Transferring wealth has become a popular feature of estate planning in recent years. More people are beginning to support younger generations of their family and charitable causes that they care about. Transferring wealth has its own set of issues and complexities. You must consider how these may affect you and your loved ones when deciding on the best approach for you and your wealth.

We have created an intergenerational wealth guide to help give an overview of the key aspects you should consider.

This guide will cover some of the reasons you may wish to transfer wealth as well as:

  • How you can go about this
  • The items you will need to get in order to be able to transfer wealth effectively
  • The issues you may encounter,
  • Case studies to help illustrate particular scenarios, and
  • How a financial adviser will be able to guide you throughout this process.

If you would like to find out more about intergenerational wealth, you can listen to our latest podcast series here. Episodes 19, 21 and 23 cover ‘What are Intergenerational Wealth Transfers?’ and ‘Transferring wealth’.

Download our guide.

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