When it comes to passing wealth on to kids, women have very different ideas to men

Men and women person precise antithetic approaches to wealth — and that affects however they walk connected wealthiness to their children.

Many women look beyond their household erstwhile reasoning astir what to bash with their wealth, according to a caller report from UBS that compiled surveys and information from the Swiss Bank and different sources.

"For women, bequest often means much than passing wealthiness down to the adjacent generation; it besides means being susceptible of positively impacting the lives of others," Marianna Mamou, caput of "advice beyond investing" astatine UBS Global Wealth Management, told CNBC Make It.

For example, the mode women put their wealthiness is often aligned with their idiosyncratic values oregon successful work of causes. Those could beryllium thing from supporting charities to helping their heirs commencement a concern they judge successful oregon acquisition a home, the study says.

Women besides presumption their wealthiness wide successful a circumstantial mode according to the report.

"Women thin to comprehend and worth wealthiness chiefly arsenic a root of information and thin to absorption connected being financially unafraid and capable to spend a definite manner for themselves and their loved ones implicit the agelong term," it says.

Women besides tackle questions astir however to walk connected their wealthiness to their heirs otherwise from men, the study noted.

As for the question of erstwhile to walk connected wealth, the differences betwixt men and women are particularly pronounced, the study found, citing information from the 2022 UBS Investor Watch survey.

"More women similar to hold and walk connected wealthiness aft their decease arsenic they don't privation their heirs to interest astir their health. In addition, much women than men interest astir disputes betwixt heirs," Mamou says.

For example, 44% of women are acrophobic astir the second point, compared to 37% of men.

"Another crushed that women similar to hold handover of wealthiness portion they are live is that they privation to stay flexible," Mamou adds. Sixty-three percent of women and 53% of men gave this crushed successful the UBS survey.

When it comes to arguments for passing connected assets portion they're inactive alive, 66% of women accidental younger generations already request monetary support, compared to 61% of men. They are besides somewhat much motivated by educating heirs astir handling wealth.

Men, connected the different hand, are much apt to transportation wealth earlier their decease for taxation reasons (65% of men and 61% of women said this) oregon to ticker their heirs marque usage of it.

The sex differences don't halt there.

In summation to women being unsure astir however overmuch wealthiness they tin walk on, the study recovered that 1 of the reasons they are hesitant to bash truthful earlier they dice is that they aren't definite how.

"There is simply a sex spread successful the knowing astir succession planning," the study concludes.

Getting adept proposal — including connected however to put successful a mode that ensures wealthiness maturation is balanced with values — and making plans sooner alternatively than aboriginal are truthful key, the study says.

One happening that mightiness assistance with this is that women accidental they find it easier than men to speech astir wealth with their families, according to UBS data. Such discussions astir wealthiness tin besides assistance with concerns similar conflicts astir inheritance and fiscal skills, Mamou adds.

"Including younger generations successful concern decisions should pb to a smoother transportation of wealthiness with less surprises. Furthermore, incorporating sustainable investing solutions tin besides beryllium a large mode to prosecute with, and bring in, the adjacent generation," she says.

"Investing unneurotic with the adjacent procreation provides a large accidental to walk connected the values and fiscal lessons that substance erstwhile the adjacent procreation comes of age."

A last constituent the study makes is that women often outlive — and truthful inherit wealth from — men. That means they person much wealthiness to transportation to the adjacent procreation — making plans and conversations astir this adjacent much important.