Debt management could help with inheritance
Debt management could help with inheritance
Thursday 3rd December 2009
That is according to new research by insurance company Aviva, which reveals that 41 per cent of children expect a significant inheritance while two thirds of over-55s plan to leave one.
Those in the south east of England stand to inherit more than any other region, with a expected pot of £462 billion. The least money is left to descendents in Northern Ireland, with a total of £46 billion.
A divergence in views of inheritance between different generations was also revealed by the research, with many younger people (39 per cent) saying they would rather parents spent money on themselves and almost half (46 per cent) of older people saying they hope to pass on their home.
For people who owe money but want to provide for their children, debt consolidation could be a useful solution. There are many different debt management plans available which can help people straighten out their finances.
Brian Bussell, head of pensions at Aviva said: "Everyone has their own views on what makes a happy retirement but based on this research we would urge the UK's older generation to heed the call from their families and make the most of their retirement.
"Whether this means unlocking the money tied up in their homes through equity release or securing an income for life from a good value annuity, there are many ways that the older generation can make the most of their assets."
News article brought to you by Debt1 – The debt consolidation company
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