Inheritance tax 'affects average middle class estates'

Inheritance tax will be levied on the average estate left by middle class parents, it has been found, as the sum stands at £335,285.

This is according to a new report by Heartwood Wealth Management, which the Financial Times reveals took in more than 1,000 adults and found significant interest in inheritance tax planning.

Making a will could be the first step towards securing assets for younger generations, as such a move can help the executor of estate carry out their duties rapidly and without conflict or confusion.

Similarly, trust wills are used in some cases to minimise the burden of inheritance tax, so taking free will writing advice might be a good way to ensure a stable financial future.

Neil Edwards, head of tax solutions at Heartwood Wealth Management, observed: “Most parents desire to pass on as much to their children as they can, untouched by the taxman.”

The issue recently came to the fore when it was revealed prime minister David Cameron was left slightly less than £300,000 in his father's will, an amount too small to be affected by the government levy.

Published by Tessa Jones