A third to inherit family assets

A third of UK adults expect to inherit money or property from family members, according to a survey by GoCompare.com.

The price comparison site polled more than 2,000 people and found 33% expect they or their partner will inherit assets. Four in 10 (41%) of these predict the inheritance will be worth more than £50,000.

A quarter of respondents said they expect to inherit more than £100,000.

The survey also found:

  • 43% of respondents said that inheriting money would be helpful but not essential
  • 13% would prefer their parents or in-laws to spend their money on themselves
  • 6% feel they do not need to save money because they will eventually inherit money or property
  • 8% said that they could get into financial difficulty if they did not inherit.

Matt Sanders, money spokesman at GoCompare.com, said:

“For most of us, inheriting money from our parents or grandparents is something we’d rather not think about, due to the circumstances surrounding it. But for some it seems the amount that they may inherit isn’t just an active consideration, it’s a retirement plan.

“Though squirrelling money away for retirement may not seem like the most exciting thing to do with our hard-earned cash, especially for those for whom retirement is a long way off, it’s an important thing to consider as early as possible.”

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