Nearly half (43 percent) of UK adults never discuss later life planning with their children, Schroders Personal Wealth (SPW) has claimed.
Its family and finances report, which surveyed more than 1,000 parents over the age of 60, displayed the gap in financial planning for intergenerational wealth transfers.
The majority – 78 percent – have no estate planning strategy in place. But, most over 60s plan to pass on their wealth to their children after death (72 percent). Just 13 percent said they would do so during their lifetime.
Similar is true for grandparents wanting to pass assets onto their grandchildren...
