Retirees 'face inheritance worries'

Just 52 per cent of people hoping to retire believe they will be able to leave inheritance to their loved ones when making a will, new research has shown.

In a bid to boost their retirement income, Prudential found that one in ten people will cancel plans to leave any sort of financial legacy to their friends and family.

"Our research shows that inheritances are increasingly in the ‘nice to do' rather than the ‘need to do' box because of uncertainty around being able to afford a comfortable retirement," explained Gerry Brown, a tax and trusts expert from Prudential.

He noted that anyone who is able to leave assets in their will needs to make sure they do in the most tax-efficient way to avoid paying out unnecessarily.

Research from Standard Life recently showed that 48 per cent of people in the UK use the internet as their primary research tool when it comes to estate planning.

Published on: June 1, 2011

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