With increased longevity and social change, many people are now considering ways of using their wealth to support their family during their lifetimes.
Whether it’s helping with school fees, paying for a wedding or helping grandchildren get on the property ladder, intergenerational planning is about ensuring the right amount of money goes to the right people at the right time.
Properties can be a significant source of wealth within an estate and making sure you consider the best use of this asset is important and may include considering gifting a share of your property to your children, transferring it into your children’s name and paying a rent, or selling your house and gifting your children the proceeds.
The best thing to do is to start this kind of planning early
We can help you understand your options, prioritise, and to see how you might spread your wealth throughout your family in the best way possible and protect your assets for the right people at the right time.
We can also help you to broach the topic with your loved ones. It’s often important for families to be able to discuss their own opinions and it helps them to feel more responsible in their role as an inheritor of the family wealth.