How to ensure your family – not the taxman – inherit your wealth
Britain is heading for an ‘age of inheritance’ with an estimated £5.4trillion in legacies due to be given and received over the next 50 years.
A study by HSBC predicts the wave of inheritance will peak in 2047 and says longer average lifespans mean most of us will end up receiving an inheritance much later in life.
Christine Foyster, head of wealth development at the bank, says: ‘There is still a really strong desire to leave something for the next generation. And partly because of rising property prices over their life, many people expect to be able to do so.’