A new survey has found that many parents in the UK have no cover should they die or become ill and have done no tax planning.
The ‘Why family matters survey’ from HSBC questioned 1,042 adults in the UK and found significant financial planning gaps:
52% of parents with dependent children have no financial plan in place
48% of parents said they have no life cover
32% of people in their 50’s do not have retirement savings factored into a financial plan
81% of people said they wanted to leave their assets to their children but tax and estate planning remain low priorities
A staggering two ...