FINANCE UPDATES – Feb 2020 – Long-term savings options for children
For wealthy parents and grandparents who want to financially
assist younger generations, building a nest egg on their behalf
can go a long way.
It can also potentially reduce the value of your estate for
inheritance tax purposes, making saving for a child or grandchild
a useful estate planning strategy – but where do you start?
As with any savings strategy, talking things over with an expert
can provide you with clarity before you begin, while the earlier
you start saving the bigger your nest egg should be.
Whether the savings are used to cover university tuition fees, a
deposit on that first house, invest in a pension or simply to keep
up with rising living costs, there are many options to consider.