Lockdown has given many people the opportunity to think about what’s really important to them and it won’t come as any surprise just how highly family and loved ones feature in their plans for the future. In fact, a recent survey of more than 2,000 grandparents has revealed that the current crisis has forced those from older generations to reassess exactly how they will pass on their wealth with two in five stating that they now plan to increase the amount of inheritance they intend to leave (source: wealth manager Killik & Co). With the current climate putting so many people under pressure, almost half also admitted to helping their grandchildren by providing them with much needed financial support now rather than having to wait for an inheritance, utilising Trusts and gifting allowances so they can do so in the most tax efficient manner. Call today to make sure your grandchildren have what they need, when they need it most!
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