£647m per year is doled out from the Bank of Gran and Grandad...
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Partner and lateryears specialist writes:
Thank goodness for the Bank of Gran and Grandad indeed!
I am pleased to see the value of grandparents is acknowledged. It’s remarkable the support we see passed down the generations from our older relatives these days.
Increasingly I am seeing clients choose to bestow financial gifts and set up Trusts for their loved ones whilst they’re still alive rather than leaving them an inheritance after death. This is largely because they wish to experience the joy of being able to help them when they actually need it.
In my experience, grandparents can not only stand for traditional family values which guide us through life, but they can also provide financial help and act as carers which is why they really do deserve our respect and congratulations.”