Two-thirds plan to leave a legacy

A study investigating attitudes towards inheritance has revealed that two-thirds of people expect to leave a legacy to their loved ones, with an average estate value of nearly £200,000.

The survey, conducted by Wriglesworth Research also found that 39 per cent of those expecting to inherit from loved ones would rather they used the money to improve their own lives before passing it on. By comparison, only 10 per cent of those aged over 55 without a will said it was because they wanted to enjoy the cash for themselves.

Six out of 10 parents said they were leaving money to help their loved ones upon their demise, while 46 per cent were passing on their assets in the form of property.

The majority of participants in the survey (79 per cent) said they thought they would receive a family heirloom or item of sentimental value, and just over half hoped to inherit the family home upon their parents' demise.

A further 57 per cent of over 55s said they were not leaving an inheritance for their family because they did not have enough money.

Copyright © Press Association 2009
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