Housing Minister Favors Leaving Estate to Grandchildren

In an unusual request official wants grandchildren in U.K. to inherit wealth and buy homes.

Because there is a housing shortage in the U.K. Gavin Barwell, the Housing Minister, has urged older people to skip a generation and leave their estate to grandchildren, giving them a head start toward property ownership, according to The Telegraph in "Inheritance should skip a generation, says minister."

The idea can still be helpful to some families in the U.S., however. Despite being the most educated generation in history, many Millennials are having a difficult time getting started with their careers as they are still affected by fallout from the recession of 2007 to 2009. For older Americans whose children have good careers and means of their own, it might be a good idea to skip a generation and leave their wealth to their grandchildren.

Anyone who does this, however, should make certain the entire family is aware of the plan and in basic agreement or there could be problems in the family.

Reference: The Telegraph (Oct. 9, 2016) "Inheritance should skip a generation, says minister."