A quarter (25 percent) of UK adults intend to spend as much of their money as they can while they are still alive.

Wealth manager Charles Stanley’s latest white paper – Book of Stories 2.0 – found that the remainder of British adults plan to pass on most of their wealth to family and loved ones.

Nearly half (46 percent) intend to do so after they pass away, but there is also a growing trend for lifetime giving, with 42 percent saying they plan to make significant lifetime gifts to their families.

Some choose this option to save inheritance tax for the benefit of the next generation. However, for...