Intergenerational Wealth CPD course  

Guide to leaving wealth before you die

  • Describe some key factors about preparing to pass wealth on
  • Identify some of the drawbacks of pensions for grandchildren
  • Explain some advantages of using protection policies for adult children
CPD
Approx.60min
Guide to passing on wealth before you die
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People who have accumulated wealth over their lifetime are wary of leaving a large chunk of it to the tax man, after using up their IHT allowance. 

There are many options available to them, whether that be giving away their wealth away, and protecting it with a gift inter vivos policy, or putting the wealth in trust.

But there is never a clear perfect solution, but ways of mitigating the costs and finding the best solution, that balances one's life now, and how much one is able to leave one's family.

In this guide, we set out some of the options available and the pros and cons of each. It is worth an indiciative 60 minutes' CPD.

CPD
Approx.60min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. According to the first article, what is the main drawback of saving through a pension for one's grandchildren, compared with saving through a JISA?

  2. Taking out a protection policy for adult children in case they fall ill, can be considered a wise financial move, true or false?

  3. What is a practical advantage of an income protection policy over a critical illness policy?

  4. How many years must a donor live to prevent the gift from being inside their estate?

  5. What does a gift inter vivos policy over?

  6. Non-indemnity commission generates greater income than indemnity commission policies, true or false?

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You should now know…

  • Describe some key factors about preparing to pass wealth on
  • Identify some of the drawbacks of pensions for grandchildren
  • Explain some advantages of using protection policies for adult children

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