Inheritance is a taboo subject for majority of Brits

Inheritance is a taboo subject for majority of Brits

Inheritance is a taboo subject for majority of Brits

The majority of Brits will not talk openly about inheritance, according to a new poll.

A survey by Aviva revealed that 63 per cent of respondents have yet to discuss the subject with their families, despite four out of ten expecting to receive money in the probate process.

Sore subjects such as the amount that parents plan to leave in their wills or whether they plan to release any equity from their homes remain a taboo subject for British families.

Yet, moneyhighstreet.com report that 76 per cent of those questioned wouldn’t mind if their parents do release some equity in order to enjoy a better retirement.

Aviva retirement director Clive Bolton stated that families would benefit from discussions about retirement and inheritance plans.

Speaking to 4-traders.com, he said: “Despite the British taboo of discussing inheritance, it seems that three quarters of Britons are happy for their parents to use the cash in their property to enjoy a better lifestyle in retirement.

“Retirees should be encouraged to talk openly with their families about their plans and dreams for the future.”

Despite being a touchy subject, discussing the wills and probate system can help families avoid possible complications when loved-ones pass away. Those who are unaware of how it works may face their inheritance being passed on in a way which they don’t desire.