Inheritance comes with strings attached

Posted on 22 May 2017. Source: The Times

Inheritance comes with strings attached

Wealthy parents are increasing putting conditions on gifts or bequests for their adult children to ensure that they maintain a work ethic rather than fritter away their inheritance.

Financial advisers and lawyers say that they are handling a growing number of requests from couples to make strings-attached settlements for their children or grandchildren.

Andrew Goldstone, a partner at the law firm Mishcon de Reya, said: "Parents who make a lifetime gift to a trust rather than outright to an adult child may think the assets are safe if the child later divorces but that's not always true."

Read the full article here.