Discussing your inheritance

Discussing your inheritance

Discussing your inheritance with your loved ones.

When the time comes in our life’s where we have to speak to our parents regarding inheritance, do we just come out with it or maybe just subtly hint.
No one wants to think about what will happen when our loved ones die and no matter how uncomfortable it is, It’s something that needs discussing.
How do you as an adult approach the hard slightly insensitive topic of inheritance and wills with your parents?
In a very recent survey by Investec,around 74% of adults said that they had never discussed the subject of death, wills etc with there elderly parents, worried that they would be seen as only wanting the money and only thinking about the money, maybe coming across as a money grabber.
But despite that its highly important that the will is accurate and if anything did arise or happen the probate can be sorted immediately and without problems.
Also knowing the ins and outs of the estate and appointing the right executor can save family arguments during such a hard time. Also unearthing any thing that could reduce inheritance tax liability when its due.

You may find out that your parents other family members (wills) may be out of date or need to be changed due to any circumstances that have changed during the last draft. If they have a substantial estate then now is the time to put together an estate plan.

Inheritance tax can claim as much as 40% of the proceeds. Finding out what’s what now is the safest option all around and again can safe so much heartbreak if anything was to happen unexpectedly.

Call us on for more information or simply fill in our contact form on the right.

 

Elissa Hayes 11/12/2012