Property 'most common gift to children when parents make a will'

Property is the asset that most Brits wish to pass to their children when they make a will, new research has found.

Figures published by retirement specialist LV= found that 59 per cent wish to leave a home or house to their offspring, while 58 per cent intend to make a money gift.

Engagement and wedding rings also form popular bequests, with over 40 per cent listing these items of jewellery as a key gift.

Only three per cent of Brits say they do not wish to leave anything to their next of kin, but almost one in four say they do not expect to receive any financial inheritance at all.

John Perks, managing director for retirement solutions at LV=, said that there will be many Brits who are pleasantly surprised to find that they have been left something by their loved one.

He added that people should make a will early to ensure that their wishes are followed.

Jane Hughes, partner at FBC Manby Bowdler LLP, recently warned listeners at Shropshire Live that making one's own will can present problems and that this task should be tackled by a legal services expert.

Published by Phil Hammond