Many Brits unaware of loved one's IHT plans

by Daniel Jones

A number of Brits may not be aware of their loved ones plans for a last will and testament, or what executor duties they may have.

Two-thirds of Brits will not talk openly about inheritance, according to research by Aviva, despite the fact that four in ten expect to receive something from their parents or grandparents.

Three-quarters of Brits admit that they are happy for loved ones to dip into equity tied up in property in order to enable them to enjoy their retirement.

However, Aviva at retirement director Clive Bolton believes that families need to be more open about their plans for their last will and testament.

He added: "Retirees should be encouraged to talk openly with their families about their plans and dreams for the future.

"We encourage those approaching retirement to look at their full range of assets, including pensions, investments and property."

For many over-55s, the home is the most valuable asset they have, despite property values not being as secure as they might have been in the past.

Published on: August 25, 2011

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