According to a recent report by Barclays Wealth, the majority of those with children (64%) do not have a Will. This means it's uncertain who would take care of their children (act as Guardian) and nor would they know who would be responsible for taking care of their children's inheritance (Executor / trustee).
A further finding is that on average those who have made a Will take 7 years before reviewing it. In today's climate of more and more estates being subject to Inheritance Tax, it can mean they may be leaving unexpected tax bills for their loved ones.
Selected past news items
- Inheritance Tax limit now £300,000 per person
- BUDGET 07: Inheritance Tax limits to rise only slowly.
- Inheritance Tax to grow 9% this year.
- Will Writers 10th Annual Conference
- 46% prepared to sell house to pay for care
- 72% rise in number of estates paying Inheritance Tax
- 1 in 10 fall out over inheritance
- Technical Changes make saving Tax easier
- Wills still able to reduce Inheritance Tax
- Estates paying IHT more than Double
- 'One third' of homes face 40% tax