A recent survey by the Rowntree Foundation has concluded that only 25% of Britons would plan to leave an inheritance for their children. For the other 75%, a decent standard of living is more important, although many concluded that there would be something left to leave their children.
Our view
Life is far too short to be leaving money for children. We see many people who scrimp and save, just to leave money and property after their death. That said, there is an increasing culture of people living well on the money they have and releasing equity from their properties to enjoy the better things in life.
We regularly speak to the children of our middle-aged clients and most would prefer their parents to live well and look after themselves, rather than worrying about how much to leave on death.
Read our article on Spending the Kids Inheritannce.