We were delighted that Morven Millar of Gresham Wealth Management was interviewed in North West Business Insider magazine, the leading media publication for business owners in the region.
Here is a summary of her comments which were about the importance of early financial planning:
“We are seeing more families take proactive steps with lifetime gifting as conversations around potential inheritance tax reform gather pace. Parents who may previously have waited to pass on wealth are now accelerating plans, transferring cash, investments and assets while current allowances and structures remain in place.
“For many, this means bringing forward gifting that was always intended, rather than making decisions purely on speculation or headlines.
“Clients want clarity, control and confidence that their wealth will benefit future generations in the most effective way possible. The current environment has simply encouraged families to have conversations sooner about legacy, financial wellbeing and how best to support children and grandchildren.
“Importantly, we’re also seeing families take a more strategic approach to gifting by ensuring transfers are structured responsibly, considering issues such as affordability, potential future care needs, tax implications and the financial maturity of recipients. Good planning is about far more than simply moving money, it’s about preserving family wealth, managing risk and providing the next generation with a strong platform for the future.”
“Family wealth can be an incredible force for good. It can provide opportunities, security, and the means to support future generations. But without careful planning and open communication, that same wealth can also become a source of tension.
“We often see challenges arise not because families disagree on the financial facts, but because they have never had the right conversations early enough. Succession, inheritance, and the management of shared assets are highly emotional topics. They touch on identity, fairness, and family legacy, so it is no surprise that they can cause friction if left unspoken.
“That is why we encourage clients to approach wealth planning not as a one-off event but as an ongoing, family-wide conversation. A well-structured plan does more than distribute assets; it defines values, expectations, and intentions. When everyone understands why decisions are being made, there is much less room for conflict later on.
“In recent months, we have seen a noticeable increase in clients seeking advice on inheritance tax planning. With various government proposals and ongoing speculation about changes to allowances, many families are understandably concerned about the prospect of paying more tax than necessary. The reality is that effective inheritance tax and succession planning cannot be done overnight. Families who start early have far more flexibility in how they pass on wealth, use available reliefs, and structure their affairs tax-efficiently.”
