Wealthy people passing on 'wrong assets' before death, says adviser

People plan to pass on cash

Hannah Godfrey
clock
Wealthy people passing on 'wrong assets' before death, says adviser

Almost a quarter of those looking to pass on assets to their children before they die plan to pass on cash, research by Lloyds Private Bank has found, but this is the exact opposite of what they should be doing, one adviser has warned.

Lloyds found almost a third (31%) of wealthy people with at least £250,000 in assets plan to pass on their wealth to their children during their lifetime and of those 23% plan to pass on cash. B...

To continue reading this article...

Join Professional Adviser

 

  • 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

Sunset clause extended beyond 2025

Mini Budget 22: Extended VCT tax relief 'welcomed'

The government 'sees the value of extending' EIS and VCT in the future".

clock 23 September 2022 • 2 min read
Thirteen key takeaways from Mini Budget 2022

Thirteen key takeaways from Chancellor's Mini Budget 2022

2.5% growth, income tax and stamp duty, cuts, and Solvency II

Elliot Gulliver-Needham
clock 23 September 2022 • 7 min read
Image Credit: HM Treasury

Planned 1.25 percentage point National Insurance increase to be reversed

U-turn on planned rise comes ahead of tomorrow’s Mini Budget

Hope William-Smith
clock 22 September 2022 • 1 min read