1 in 4 Brits don't expect any inheritance
by Daniel Jones
As many as one in four people in the UK do not believe they will receive any inheritance from their parents, a new study from LV= shows.
In numerous cases, elderly people are instead using their finances to clear debts, rather than leaving cash to loved ones when writing a will
However, 42 per cent of those polled are hoping to receive some sort of inheritance to help boost their own finances.
John Perks, head of retirement solutions at LV, told the Scotsman: "It is worrying to see that of those relying on an inheritance, one of the main reasons cited is to fund their retirement.
"Given that we are living longer, it is a rather risky strategy."
Helen Hill, general manager at the Society of Will Writers Trust Corporation, recently warned anyone who is given executor duties
not to be ignorant of the probate process.
Published on: September 9, 2011
Did you like this article? Share it!