What to include in your intergenerational financial plan

Whether you are looking to help a family member onto the property ladder, clear debts or pay for their child’s education, sound intergenerational planning can provide solutions.

With careful consideration and professional expertise, you can construct an effective intergenerational financial plan according to the following six aspects:

  1. Sustaining your standard of living – while it is understandable that you want to pass on your wealth and assist your family financially, it is important to achieve this without compromising your own financial security.
  2. Tax efficiency – transferring your wealth tax-efficiently means there is more for your beneficiaries and less for the taxman.
  3. Control – a comprehensive plan will help you retain control of your finances, deciding exactly how you pass on your wealth, to whom and with what restrictions.
  4. Timing – starting early and planning ahead avoids any unforeseen consequences or nasty surprises.
  5. Access – high divorce rates and the rise of blended families mean there are a number of traps that can divert slices of your wealth beyond family boundaries if access issues are not controlled for.
  6. Protection – protecting your family assets will ensure they can continue to be passed down the generations.

Whatever your circumstances, we can hep you construct a bespoke intergenerational financial plan tailored to your individual needs.