Get Started Today

Please fill out the form below and a member of our
team will be in touch with you soon.

    hero image

    Are you prepared for the Great Wealth Transfer?

    Research suggests that over the next twenty to thirty years, a record £5.5 trillion will be transferred between family generations, through either inheritance or gifts – this has been branded as ‘The Great Wealth Transfer’ by financial experts. In our most recent blog, we discuss intergenerational wealth transfer and ways to make this transfer as smooth as possible for the next generation of your family.

    Intergenerational wealth planning

    Although it may sound complicated, this is simply the process of planning the most efficient approach to transferring wealth within your family. It involves taking steps to decide how you and your family can use their wealth to support each other and ensuring those you want to benefit from your wealth are able to do so.

    Perhaps you are looking to pass wealth onto your children or grandchildren as part of an inheritance tax strategy, hoping to fund long-term care for an elderly relative or wanting to support your children through university – whatever the reasons, it’s important to plan ahead to ensure you’re making the most of your wealth.

    Research shows that there is a lack of investment knowledge in the younger generation who are set to benefit from this great wealth transfer and because of this, there is a risk that huge amounts of potential wealth could be unnecessarily lost. This highlights why intergenerational wealth planning is so important.


    Inheritance will likely form the main focus of your intergenerational wealth plan, as the inheritance you leave behind can make a huge difference to the lives of your family. It’s also vital to clearly understand how inheritance tax (IHT) will impact your estate so you can plan in the most efficient way.

    However, there are thousands of people who pass away without careful planning, resulting in a substantial inheritance tax bill and the value of their inheritance being drastically reduced. HMRC raised £29 billion in IHT receipts between April – August 2022 which was a £300 million increase on the same period in 2021.

    If planned carefully and far enough in advance, it is possible to drastically minimise or even eliminate the impact IHT will have on your estate, so you are able to pass on more of your wealth to those you most want to benefit from it.

    Utilising your wealth now

    Although planning for your family after you have passed is an important part of intergenerational wealth planning, you may also want to look at how you can help them right now, whilst you are still alive. This could include planning to use some of your wealth to assist your children whilst they are at university, helping them to buy their first property or putting some of your wealth into a trust for them.

    Another reason you may wish to utilise some of your wealth could be to assist older family members with any support they may need as they age and their health begins to deteriorate, in particular, your parents. Matters to consider in relation to this could include reviewing your parent’s financial arrangements to establish who will inherit their estate, investing to help fund long-term care or making plans should their mental capacity be lost.


    Family relationships can be complicated and simply passing money down to your children before they are ready or have the required knowledge to know how to sensibly look after it is potentially a dangerous move. Intergenerational wealth planning can be complicated, simply because there are so many different factors and people to consider as part of it, plus the added pressures of how much you stand to lose if you get it wrong – for this reason, it’s essential to seek expert advice as soon as possible. If done correctly, it will allow you to ensure all your loved ones, both young and old, are in a better position financially in the longer term.

    Get in touch

    For tailored advice to your individual family circumstances, please get in touch with a member of our financial planning team by emailing or calling 01254 679131.

    The value of investments can fall as well as rise. You may not get back what you invest.

    The information contained within this article is for guidance only and does not constitute advice which should be sought before taking any action or inaction.

    Stay Connected