Intergenerational Wealth Planning
Secure your family’s future with Netwealth
Book a call with an adviserWhat is intergenerational wealth?
How Netwealth can help
Netwealth offers advice restricted solely to our services. We do not consider the whole of the market, nor offer advice in relation to tax compliance, insurance products, or the transfer of defined benefit pensions.
Educating the next generation on wealth management
Effective wealth management involves more than just passing money to the next generation—it’s about ensuring they are equipped to manage and grow that wealth responsibly. As more families consider the complexities of wealth transfer, it’s important to prepare younger family members for these responsibilities.
At Netwealth, we encourage starting with smaller, regular gifts as a way to introduce these concepts, helping to future-proof your family’s financial legacy. Whether planning for children, grandchildren, or even a civil partner, our approach ensures that everyone is prepared to handle the wealth they inherit.
Junior GIAs & Bare Trusts
A Junior GIA is an account opened by a ‘bare trust’ and controlled by one or more trustees (e.g. parents or grandparents) on behalf of a child beneficiary. Returns are taxable but you may be able to make use of the child’s annual tax allowances for both income and capital gains.
There is no limit on contributions, unlike JISAs which have an annual limit of £9,000. The child (beneficiary) has an absolute right to the assets at age 18 but the money can be accessed by the trustees prior to 18 in order to provide benefit to the child.
Staying ahead of the curve
We're here to help you know how much to give and when so that you can ensure your accumulated wealth is passed on efficiently to your successors.
At Netwealth, we specialise in intergenerational wealth planning, helping families transfer wealth in the most tax-efficient manner possible. Whether you’re considering lifetime gifts, setting aside funds for school fees, or planning for house deposits for your children, our expert advisers are here to guide you through every step.
Benefit from Netwealth's experience
Make wealth transfers easy for your family
Intergenerational wealth transfers can be complex, involving significant wealth transfers from one generation to another. We help families navigate these challenges by offering tailored advice that ensures your wealth is distributed effectively, minimising the tax burden on your children.
Our services are designed to cater to both older family members and younger generations, ensuring that your wealth is preserved and grown for years to come.
Manage inheritance tax and preserve your family’s wealth
Inheritance tax can significantly impact the wealth transferred to your heirs. By planning ahead with Netwealth, you can take steps to reduce tax liabilities and benefit from available tax relief options
Our advisers will help you explore options such as making the most of tax-efficient investment vehicles and structuring lifetime gifts to mitigate the inheritance tax burden.
Investment advice for the whole family
Investment decisions made today have a lasting impact on future generations. Our expertly managed Junior ISAs and ISAs can help you save for the next generation in a tax-efficient way. These accounts let you grow wealth for your children or grandchildren without paying income or capital gains tax.
Moreover, you can opt for personalised investment advice that aligns with your family’s goals, helping you make informed decisions that benefit both current and future family members.
The Netwealth Network—A smarter approach to wealth preservation
We simplify family wealth management by letting you pool investments with family members or friends. Each person still controls their own accounts privately, but this combined approach lowers the fees for everyone involved.
Setting it up couldn't be simpler – an ideal solution for families seeking hassle-free, low-cost financial planning.
Benefits include:
Leveraging pensions for intergenerational wealth transfer
Pensions are a powerful tool in intergenerational wealth planning, often overlooked for their potential in inheritance tax planning. With Netwealth’s guidance, you can strategically use pensions to pass on wealth tax-efficiently. By choosing options like flexi-access drawdown, any remaining pension assets can be transferred to beneficiaries, helping to reduce the overall tax burden on your estate.
Balance control with tax efficiency
Every family’s needs are unique, and so are their wealth transfer strategies. Netwealth works with you to find the optimal balance between maintaining control over your assets and maximising tax efficiency. Whether it’s through straightforward gifts or more complex structures like trusts, our approach ensures your wealth is transferred in a way that aligns with your family’s long-term objectives, offering peace of mind that your legacy is preserved.
Planning for uncertainties—longevity and inflation
Planning for wealth transfer also means preparing for the unknown. Factors like longevity and inflation can significantly impact your financial plans. Our services includes modelling these variables to ensure you’re not only providing for your own needs but also securing the financial future of your heirs.
Whatever the future holds, we'll help you structure your intergenerational transfers to account for its challenges. Our seasoned experts will do their utmost to help your assets provide value across generations.
Reach out to us today and safeguard your family's future.
Netwealth offers advice restricted solely to our services. We do not consider the whole of the market, nor offer advice in relation to tax compliance, insurance products, or the transfer of defined benefit pensions.
Insights
Frequently Asked Questions
Can Netwealth help transfer wealth across generations?
Yes, we provide advice on transferring wealth efficiently, ensuring the right structures are in place to protect and manage family assets over time.
How does Netwealth address tax efficiency for intergenerational wealth?
Our advisers can help you create tax-efficient plans, including inheritance tax strategies, to ensure wealth transfer minimises tax liabilities.
Can I include family members in my Netwealth plan?
Yes, with the Netwealth Network, family members can benefit from reduced fees while maintaining control over their individual investments.
How can Netwealth assist with education and financial literacy for heirs?
Our advisers can work with younger family members to improve financial literacy, ensuring they are prepared to manage inherited wealth responsibly.
Can I maintain control of my assets while planning for wealth transfer?
Yes, we allow for various levels of control. While simple gifts are more tax-efficient, they transfer full control to the recipient. More complex structures, like trusts, can be set up to maintain control, though these often involve higher costs and more complexity.
Our advisers can help find the right balance between control and tax efficiency for your situation.
What role do pensions play in intergenerational wealth planning?
Pension assets are particularly useful for inheritance planning because they fall outside your estate for IHT purposes.
Our flexi-access drawdown options allow you to pass pension assets to your heirs, while managing your own income needs during retirement.
What tax considerations should I be aware of when gifting?
We can guide you on the most tax-efficient ways to gift assets. Gifting up to £3,000 annually is free from IHT, but larger gifts may still be subject to IHT unless the donor survives seven years post-gifting. Understanding these rules and how they impact your family’s financial future is key to effective intergenerational wealth planning.
