Chaplow explains how financial planners shouldn’t just be asking clients standard questions about their children like their date of birth but really delving into what their children do. Such as what they like as a person or how they spend their free time?

“This will give you a sense of the type of person your clients will be passing their wealth to, and give you an opportunity to bring the children into the conversation."

It is important that all parties are involved in the conversation, so everyone is aware of the issues and, hopefully, they will continue to have meaningful conversations between the generations, long after the adviser has left.

Alina Khan is senior reporter on FT Adviser