According to a recent report by USA Today, only around 1% of senior citizens in China have written a will or conducted some other form of inheritance planning exercise, which is beginning to cause problems regarding the transfer of wealth.
New research from the Institute for Fiscal Studies (IFS) has found that younger generations are likely to inherit much more wealth than their predecessors did, both in absolute terms and relative to their other sources of wealth. However, within each generation, those who are already well off tend to inherit the most, and this has implications for inequality and social mobility.
The UK’s Acceptance In Lieu scheme has helped to secure a wide number of truly exceptional works of art into public collections in the last year, according to the Arts Council’s Annual Report.
A German man, who had been held as a Prisoner of War (PoW) in Scotland, has left a generous bequest to the Scottish village where he was detained, reports the BBC.
If you ever find yourself named as a beneficiary in a will, then normally the bequest that you receive is quite straightforward, such as a sum of money or a treasured memento. However, this is not always the case.
A new report has highlighted the extent of the pensions and savings gap in the UK, with many adults failing to save enough money to provide for a comfortable retirement.
A recent survey has revealed a worrying lack of understanding of inheritance tax (IHT), which could leave many families suddenly facing an unexpected tax bill.
A recent study from Canada has given an interesting insight into the older generation’s views on spending all their money verses leaving an inheritance for their children.
A major full-length portrait by Sir Joshua Reynolds of the 5th Earl of Carlisle has been accepted in lieu of inheritance tax for the nation.
New research by Saga Investment Services has found that the proportion of properties sold in England and Wales above the £325,000 Inheritance Tax (IHT) ‘nil-rate band’ looks set to reach record levels in 2016.
