Inheritance tax: Families urged to have ‘grown-up version of birds and the bees chat’ to keep tax bill down
- On May 13, 2021
- By GrowthInvest Marketing
Money experts say sorting out your estate is a simple way to provide greater security to dependants
Nothing is certain except for death and taxes, is how the saying goes. But, while as a nation we seem preoccupied with talking about taxes, we have a strong reluctance to discuss it alongside dying.
When it comes to our finances, however, not planning for the end of our lives can result in tens of thousands of pounds being unnecessarily lost to the UK tax office, according to experts, money that could have been passed on to loved ones.
According to research carried out by investment firm Schroders Personal Wealth, four-fifths of people aged 60 and over have made no plans at all for their estate, while two-thirds rarely or never discuss inheritance with their children.
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