Retirees say children have no automatic right to inheritance

The research has revealed that the current generation reaching retirement is bucking tradition and believe their children do not have an automatic right to an inheritance. National figures show that 62pc of over 50s own their own home and the Saga Populus survey revealed that by the age of 60 a large proportion (79pc) of them will have already paid off their mortgage, increasing to 99pc when they reach 70. This means they could potentially have £56,000 to spend on improving their life in retirement. Andrew Goodsell, chief executive of Saga Group, said: "We have seen an increasing amou...