Inheritance Tax  

Guide to intergenerational wealth transfer

  • Explain how advisers should approach conversations with the different generations
  • Identify ways to mitigate inheritance tax bills
  • Explain how to pass on pension wealth to beneficiaries
CPD
Approx.60min
Guide to intergenerational wealth transfer
 Credit: Askar Abayev via Pexels

Introduction

With the increase in housing wealth over the last 20 years, many people are set to inherit a lot of money from parents and grandparents.

It means that advisers are having to think a lot more about how they help their older clients while also trying to engage the generations to come, who may not be wealthy now, but could stand to inherit further down the line, as well as earn more in the future.

Individuals can also pass on their pension and other wealth they have built up.

This guide will explore how advisers approach conversations with the different generations, how environmental, societal and governance (ESG) issues are increasingly becoming part of those conversations and how to mitigate those large inheritance tax bills.

The guide is worth and indicative 60 minutes of CPD.

In this guide

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. True or false, the pandemic has made parents more willing to talk about their wealth with their children as a result of becoming more conscious of their own mortality.

  2. To ensure the proceeds of a life insurance policy are not included in the estate, what needs to be done?

  3. According to Les Cameron, what is one of the most underused approaches in IHT planning?

  4. What is the key thing that enables a person to pass their pension to the desired beneficiary?

  5. According to Maria Nazarova-Doyle, what is the main difference in generations’ attitudes to investing?

  6. Why is it important to check the rules of your pension scheme if you are intending to pass on your pension wealth?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Explain how advisers should approach conversations with the different generations
  • Identify ways to mitigate inheritance tax bills
  • Explain how to pass on pension wealth to beneficiaries

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