What’s stopping clients adopting wealth transfer strategies?
It might be that they’d rather spend it on themselves or put it aside in case they need it for the future, but if they do want to transfer their wealth, the older generation could be missing out on significant opportunities to help the generations that follow.
A recent consumer research report asks why families are leaving wealth transfer until later in life.
25% are worried the younger generation might fritter away their hard-earned cash
22% want to look for ways to direct how the money is put to constructive use to prevent squandering
And 29% of grandparents believe ‘making your own way in the world’ is an important life lesson.
You don’t have to transfer wealth to help the next generation. Some investments are exempt from
Inheritance Tax after two years. So, you could save them a potential Inheritance Tax bill whilst allowing
access should an opportunity or emergency occur.
If you would like more information on this type of investment please do not hesitate to contact us.