IHT traps significantly heightened for those in blended families

Nearly half (47%) of blended families - those consisting of a couple and children they have together as well as children from previous relationships - have not changed or updated their will after getting divorced, getting re-married, having children, or becoming a stepparent. This is according to research carried out by Censuswide in May 2023 among 2,000 people aged 40 and above. The study highlighted the lack of communication within blended families regarding wealth management after death. A fifth (21%) of respondents from blended families admitted to not discussing their financial a...