IFS report shows importance of getting the right advice to plan your inheritance

Sarah Cornish comments on a new report on the rising value of inheritance.

“A new report from The Institute of Fiscal Studies (IFS) shows that younger people today will inherit much more than previous generations. While the report indicates inequality, with some set to inherit much larger amounts than others, the overall picture is of people leaving significantly more to their children than ever before.

“With the increase in wealth within the older generation, inheritance is becoming much more important. With so much more at stake, it is more important than ever for people to get the right advice. Having a well thought through, professionally drawn up and up to date Will is clearly even more important if you have a high value estate.

“Getting advice on setting up a Trust can be a good way of providing tax-efficient succession for your estate. A Trust can also help ensure you make provision for any disabled or vulnerable family members. There are a number of options for Trusts, depending on your circumstances, so getting expert advice is crucial.

“With people now set to leave more money than ever before, it has never been more important to plan your inheritance.”

For advice on writing a will or tax or inheritance planning please contact Sarah on 0800 328 3282 or info@coodes.co.uk