Almost two in three parents are hesitant about handing over their hard-earned wealth to married children with fears that it may be handed over to spouses on divorce, a study has revealed.<\/p>\n\n\n\n\n\n\n\n
The research, published by Handelsbanken Wealth Management, comes as divorce rates rocket as a result of the coronavirus pandemic.<\/p>\n\n\n\n
According to the report, 67 per cent of parents are \u201cholding back on financial planning\u201d because they fear that their inheritance risked being handed over to children\u2019s former partners \u201cas part of a divorce settlement\u201d.<\/p>\n\n\n\n
It comes after almost three-quarters (73 per cent) of parents envisage that financial issues related to Covid-19 would lead to a \u201csurge in divorce rates\u201d \u2013 a prediction already confirmed by a national law chain, who revealed that divorce enquiries increased by 42 per cent in the months after the lockdown began.<\/p>\n\n\n\n
Likewise, over a quarter (27 per cent) of parents had \u201clittle or no confidence\u201d that their children\u2019s marriages would last a lifetime, while one in six (16 per cent) felt their children\u2019s spouses were \u201cnot good with money\u201d.<\/p>\n\n\n\n
Remarkably, one in five (19 per cent) parents had so little confidence in their children\u2019s marriage that they have decided to give their inheritance straight to grandchildren.<\/p>\n\n\n\n
Commenting on the study, author Christine Ross said: \u201cThe emotional and financial pressures of an enforced lockdown have tested many marriages and sadly for some, it will be the final straw.<\/p>\n\n\n\n
\u201cIt is not unusual for parents to disapprove of their children\u2019s choice of partner, but they can be equally reluctant to interfere in case they cause a family rift.\u201d<\/p>\n\n\n\n
For help and advice, contact our expert team at Ardens Solicitors today.<\/strong><\/p>\n \t","protected":false},"excerpt":{"rendered":" Almost two in three parents are hesitant about handing over their hard-earned wealth to married children with fears that it may be handed over to spouses on divorce, a study has revealed.<\/p>\n","protected":false},"author":1,"featured_media":290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cybocfi_hide_featured_image":""},"categories":[14],"tags":[],"yoast_head":"\n