Single will news: Inheritance still a taboo

Some 40 per cent of people expect that someone will make a will leaving them an inheritance, yet many people are hesitant to talk candidly about this.

Figures from Aviva showed that 63 per cent of people have yet to, or would, decline to talk openly about their inheritance with their parents, despite many still expecting to receive this and including it in their retirement plan.

However, 76 per cent of people questioned said that they would not mind either their grandparents or parents releasing equity from their property in order for them to make the most of their retirement.

“Despite the British taboo of discussing inheritance, it seems that three-quarters of Britons are happy for their parents to use the cash in their property to enjoy a better lifestyle in retirement. Retirees should be encouraged to talk openly with their families about their plans and dreams for the future,” Clive Bolton, 'at retirement director' at Aviva, said.

Those thinking of making a will should also inform their families what will be included in this document and who its beneficiaries will be, experts have advised, so that any possible disputes are avoided.

Published by Hannah Carr