New research from Aviva has found that whilst two-thirds of people would not talk openly with their parents about inheritance, 40% of us expect to receive an inheritance in the future.
This expectation of receiving an inheritance is often built into financial planning, with the expectation of receiving money from deceased parents factored into retirement plans.
Despite this expectation, 76% of people would still be happy for their parents or grandparents to spend money from their estate during their lifetime.
This suggests that more than one generation of each family has similar ideas about supplementing retirement income with the equity value held in property.
Talking openly about inheritance is important, particularly where there is the expectation of receiving money to boost retirement plans.
A Financial Planner can help to facilitate these discussions and ensure each generation has reasonable expectations for building their financial plans.
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