Future Proofing the Modern Family

Family structures have changed significantly and continue to evolve. In today’s world, what does the concept of a ‘modern family’ even mean?

The latest data reveals that the proportion of adults who have never married or entered into a civil partnership has risen steadily each decade since 1991. Meanwhile, the proportion of adults who are married or in a civil partnership – including those who have separated – has declined from 58.4% in 1991 to 46.9% in 2021.

Amid these social changes, the UK’s millionaire population was reported to have peaked in 2023 at just over 3 million. However, projections suggest a decline of around 17%, with numbers expected to fall to just over 2.5 million by 2028.

The Cardiff event in HCR’s Modern Family series will focus on high-net-worth individuals, highlighting the importance of future-proofing their assets - from family businesses to pensions and property. We will also examine the unique challenges faced by unmarried couples and parents and discuss the potential impact of proposed government reforms.

HCR’s Modern Family series is travelling across England and Wales, bringing together leading experts to explore the factors shaping UK family life and how individuals can prepare for the future amidst these shifts.