Two million families could benefit from early inheritance

The Scottish Widows Bank Report by YouGov of 1,472 Britons between ages 55 and 75 who own their own home or are making mortgage payments reveals many people in retirement are not spending their children’s inheritance and, instead, prefer to give them an early inheritance before they die. Scottish Widows Bank calculates 1.9 million (21%) families could potentially benefit from gifts from their elderly relatives. It says early gifts to offspring may be a way for retirees to reduce the amount of inheritance tax payable on death on any estates worth over £275,000. Four in 10 pensioners in...