The idea of leaving something to our descendants – whether it’s money, a house, family heirlooms or something else – is deeply ingrained. Given the state of the housing market, a gift from a parent is now the only way many young people can imagine getting ahead.
But the reality of inheritance is often more complicated than we imagine, and a gift can sometimes cause more financial issues than it solves. Inheritance tax and family squabbles can sour what should be a consolation after bereavement – and relationships between parents and children can be complex.
So, are children entitled to an inheritance? Helen Neale, Sam Harrington-Lowe and Raj Gill give their perspectives.
My dad died in June 2020. Three years later, my Mum died too. Both of cancer, both quickly and unexpectedly.
At the same time, my brother was in hospital, which meant there was no one other than my husband to help with the admin which comes with a bereavement. That creeping, practical side of grief which consumes you, stopping you from sometimes letting the emotional side in. I dealt with phone calls, the mountain of paperwork and what to do with the home that my parents had loved.
