INTERGENERATIONAL PLANNING

The new normal?

It has normally been the way that wealth is passed from one generation to the next. But intergenerational wealth management challenges this assumption, focusing on how families can use their combined wealth more collaboratively to aid each other during their lifetimes. It provides legitimate estate planning and tax mitigation opportunities, as well as often much-needed assistance with the financial burden of everyday life.

An unprecedented period of wealth transfer

It’s no exaggeration to say that intergenerational planning represents the most significant change in the financial landscape for many years. The Personal Investment Management & Financial Advice Association (PIMFA) believes that over £300 billion will be transferred to around 300,000 inheritors over the next ten years, a figure that outstrips the total amount currently administered by adviser firms on behalf of UK private clients.

How did we get here?

In the immediate aftermath of World War II, a large number of factors caused the birth rate to increase dramatically and asset prices to appreciate far more quickly than they had in the past. The result was that the baby boomer generation eventually became the largest and wealthiest generation group that the UK has ever seen. Fast forward to today, and these baby boomers are beginning to transfer their accumulated wealth.

Your options

As you would no doubt expect, this can present opportunities for families, but it’s not an easy thing to get right.  We may be able to help you create a framework across the generations to help maximise the opportunities and help to create security for all members of your family. 

Find out more

If you’d like to find out more about our approach and how we can help you, then just get in touch.