Kirsty Mitchell: Elderly clients and the discussion of family wealth

Wills and lasting powers of attorney

clock • 4 min read

It is estimated some £5.5 trillion will pass between generations in the UK over the next 30 years and, writes Kirsty Mitchell, to ensure these assets are secured, elderly clients need to start talking about their wealth

Do you encourage your elderly clients to talk to their family about their wealth? It is a simple enough notion but it is more important than it may first appear. Many clients can put off this conversation as it can cause contention within their family and, very often, how even to bring up the subject can be a sticking point too. A conversation about family wealth leads into discussing the estate and what will happen to this estate once the elderly generation are no longer around to take care of it. One of the main problems is that, although mathematics is a central part of school educ...

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