Women put their children first when thinking about wealth planning, in contrast to men who are more likely to prioritise their spouse, according to research from wealth manager Charles Stanley.
The research found that 45% of high net worth (HNW) women consider their child first when it comes to succession planning; a number which drops to 33% amongst men. Contrastingly, 37% of men would consider their spouse first for passing on their wealth in the event of their death - a number which lowers significantly to 17% amongst women. However, these aspirations may not become reality without a will in place to direct wealth when needed. Only three in five (59%) HNW individuals have a will in place, which is more common amongst men at 64%, compared to 57% of women. The research a...
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