Article preview: Inheritance is an essential subject for families, despite often being quite challenging to discuss. For many members of the post-war baby boomer generation, money remains a taboo subject. Getting together with adult children to share confidential financial details and intentions for future inheritance is not an easy thing to do. As we lead longer lives increasingly, and with the younger generations facing higher costs of living, it’s important that families do raise the subject of inheritance. These conversations help to set reasonable expectations and allow proper planning to take place for the future. With more than 30 million people in the UK not having a will in place, and an estimated £1 trillion forecast to be inherited by the next generation within ten years, these inheritance conversations are more critical today than ever before.
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This 550-word blog post considers new research from will-writing firm Farewill, which found that nearly a third of parents want to talk to their children about inheritance. Written on 31st May 2019.
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