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

People plan to pass on cash

Hannah Godfrey
clock • 2 min read

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. By comparison, a mere 6% planned to pass on properties, while 8% planned to pass on other investments, such as stocks and shares. However, after death property (77%) and various forms of investment (57%) were the two most popular assets to be passed on, with fewer than a third (29%) of people planning to reach to cash. Head of portfolio specialists Jon Wingent said: "We are seeing a growing t...

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