Inheritance Tax Planning – What About Pre-Inheritance?

We've all heard of research and reports from professionals near or recently retired who says with a smile that they "will spend the children's inheritance."

Many dreams come true, including trips to exotic faraway places, cruises, buying a Harley Davidson boat or motorcycle – or whatever you're interested in.

However, some recent research has found that many wealthy parents have decided that instead of just knowing that their children will inherit when they die (if there are any left!), they want to give even more now. You can check about inheritance tax computation in UK online.

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Insurance giant Aviva has conducted a new study on the matter. The results show that 50% of adults in the UK receive gifts before inheriting from their parents. That compares with the smaller number, more than a third, who left money with their parents when they died.

They looked at which age group benefited the most, and perhaps unsurprisingly, the 18-25 group benefited the most, followed by the 31-40 group. This may be due to the cost of studying debt, climbing the apartment ladder, and then starting a family.

Of course, these financial gifts can do something different for your kids and give them a big boost if they might be having a hard time. As parents, ideally, we want to do this for our own future children.