Even though it has been taking place since the advent of ownership, passing wealth down through the generations comes with complexities and caveats, expectations and anxieties. The timing, access, control and amounts involved are crucial elements of this transitional process and there are probably as many combinations of those as there are donors and beneficiaries. This can be a crucial area for financial planners to add value to the service they offer clients and there is a myriad of planning options to help clients achieve the outcomes they want either pre or post death. But, to avoid unintended consequences and build the best solutions generally requires a strong knowledge of the full range of arrangements available and a good appreciation of their devilish details. This guide is intended to help professionals involved in this great wealth transfer get a better understanding of what can be achieved, and where pitfalls lie, when certain planning routes are taken.
You can claim up to 2 hours CPD for reading the guide and it is free to access here.
For a deeper dive into some of the guide’s topics, register for the Next Generation Planning webinar, taking place at 10am on 4 October, with M&G’s Les Cameron giving his technical insights.