According to Brenna Hassett in the Guardian, the length of a human childhood is an extreme outlier (almost 25% of our total life expectancy). Our species has evolved to prize this slow development into adulthood, but it brings with it some financial challenges for grandparents, parents and children.

Many children will remain at home long into their twenties, relying on their parents financially for much longer than previous generations, and this continues to affect the dynamics of estate planning. So what are the implications of a longer childhood on estate planning?

• Dickens' and Austen's works are full of children coming into their inheritance at 18 or 25 (or upon marriage, for the woman, of course). Nowadays, it may be more suitable to structure one's will using a trust to cater for the possibility that your offspring may not be sufficiently financially savvy at 18. That said, it is very important to involve them from a young age in financial decision making so that, when they grow up, they have the language and knowledge they need to make prudent financial decisions.
• Children live at home for longer, often returning after university for some years. There may be scope for structuring home ownership to mitigate inheritance tax later in life, but parents should be careful not to fall foul of the "gift with reservation of benefit" rules, which can have penal consequences. 
• Not just our childhood, but our life expectancy is extending too. Always bear in mind the key rule that is not to give away more than you can afford. 

And finally, always remember, as Oscar Wilde once said, "Don't be discouraged if your children reject your advice. Years later they will offer it to their own offspring."