Henny Dovland: Intergenerational financial planning explained

Keeping it in the family

clock • 5 min read

Henny Dovland looks at different ways to share wealth between the generations while keeping a firm hand on tax liabilities

As we live longer, it is quite typical for four generations to be alive and well in any one family. This means it is becoming increasingly important to consider financial planning on an intergenerational rather than individual basis. Inheritance tax (IHT) is hefty - 40% of the total qualifying estate - yet our own research shows that over a third of consumers aged 55 and over who use an IFA for financial advice have not yet considered IHT planning.  Financial planners need to think about the services they provide to the family as a whole. Rather than f...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Changes to agricultural and business relief explained

Changes to agricultural and business relief explained

Government will publish a technical consultation in early 2025

Julia Peake
clock 11 December 2024 • 4 min read
Pension death tax – fair game?

Pension death tax – fair game?

Government took steps to reset the purpose of a pension

Lee Halpin
clock 11 December 2024 • 4 min read
Navigating the new pension and IHT terrain: Implications from the 2024 Budget

Navigating the new pension and IHT terrain: Implications from the 2024 Budget

New regulations create a more nuanced environment

Stephen Ford
clock 09 December 2024 • 5 min read