Is inheritance a taboo topic?

The topic of inheritance is often seen as taboo, though many are relying on property inheritance for financial planning. New research commissioned by Zoopla suggests that 25% of respondents agree it is not acceptable to talk to anyone about inheritance – with the vast majority coming from property assets - however many are already factoring it into their future.

 Research shows that 43% believe it is acceptable to talk to your parents about inheritance, however, only 19% believe it is acceptable to talk to your children about inheritance – suggesting parents (or grandparents) feel it should typically be discussed at their discretion.

Many continue to make plans with expected inheritance, despite not yet receiving it – with nearly six in ten expecting to be able to move house, upgrade their home or pay off some, or all of their mortgage.

Our Director, Robert Green says, “Discussing inheritance is really circumstantial, for example, if property forms part of a family business, it seems reasonable that different generations discuss their plans – often at the discretion of parents or grandparents.

Many families discuss estate planning. Covid has perhaps jolted the, generally more healthy, baby boomer generation into considering ‘what’s next?’ For some, it’s possible to pass on wealth in a more tax-efficient way, though this can be at the expense of losing control of the money pre death, meaning there needs to be a healthy surplus or a high degree of trust with the children and any spouses. 

 The ‘Bank of Mum & Dad’ is also a way of passing on wealth, often by helping with a deposit. Although we do frequently see high-value property in Chelsea funded fully by parents, who wish to set up their children, and seeing this as a sound way to do so, whilst avoiding inheritance tax in due course.”



Robert Green, Associate Director