As you get older you may want to share some of your wealth with your family while you’re still alive. Intergenerational wealth management is a way of choosing when and how your wealth is passed on to the next generation. Our advisers can help you put a financial plan in place to share your wealth with your loved ones.

For a free initial financial health check, call us on 0370 1500 900.

If you’re considering passing on wealth before you die, our financial planners are here to help. We can advise you on how to give the right people the right amount, at the right time. We’ll do this in a way that’s affordable, sustainable and tax-efficient over the long term.

The traditional way of passing on wealth when you die no longer works for everyone. “Baby boomers” are retiring with more wealth than any generation in history. At the same time younger generations are finding it harder to get on the property ladder, or to repay student debt.

More people are asking the question “how do I make my wealth work harder for the whole family?” At the same time, with life expectancies increasing, you might have concerns about making sure you have enough money for later life.

Passing On Your Wealth

Intergenerational wealth management is all about control. You can choose when you pass on your wealth, who to, and how much. It allows you the satisfaction of seeing your wealth work for your children and grandchildren in your lifetime. And controlling how and when you pass on your wealth means that you can do so as tax efficiently as possible too.

According to the Office for National Statistics, you’re most likely to receive an inheritance between the ages of 55 and 64 . At this point in life you may well be retired or considering retirement yourself. But had you received some of that inheritance earlier in life, could it have helped you more?

Our Approach To Intergenerational Wealth Management

We offer a full range of wealth management and legal services to help you meet your goals. Intergenerational wealth management usually involves a combination of the following services:

• Financial planning
  Understanding your current situation, where you want to get to, and then recommending a strategy to get you there, tailored to your objectives.
• Cashflow modelling
  Projecting what your current wealth might translate to in different future scenarios (including spotting potential shortfalls and how to address them). This might involve modelling situations such as helping the next generation get on the property ladder, or how your wealth might work depending on increased/decreased life expectancy.
• Investment solutions
  We can advise on specific products and solutions to meet your objectives.
• Tax planning
  Advising you on the tax saving allowances available to you, and making sure they’re used.

However, the one thing you can be certain of in life is that things change. That’s why we’ll regularly review your plan and investments to make sure they continue to meet your needs.

Why Choose Irwin Mitchell?

Our wealth management service has been going for over 21 years. In that time we’ve helped hundreds of people make long term financial plans to meet their goals.

We currently manage over £950 million in client funds. And we were delighted to win Active Manager of the Year at the Money Age’s 2021 Asset Management Awards.

Unusually for a wealth management team, we work side by side with lawyers in our Private Client team. We can offer a true “one stop shop” for all of your wealth management needs, providing financial, tax and legal advice as you require it.

We were delighted to win Customer Service Team of the Year at the 2021 Yorkshire Financial Awards. Our advisers offer a personal service – you’re never just a number. We pride ourselves on the level of service we provide – something that’s reflected in the feedback and referrals we get from our clients.

Contact Us

Call us on 0370 1500 900 for a free financial health check with one of our advisers.