Estate and End of Life Planning Report 2020

This report studies the degree to which consumers in the UK engage in estate and end of life planning. Estate and end of life planning involves consumer actions to pass on their wealth to their loved ones and other people who matter in a way which is most effective in terms of inheritance tax, their own financial situation as they age, provision for loved ones after their death and where and how their passed on wealth can be spent. The research is based on a survey of 2,093 consumers using MIS Group panel of UK consumers.

Report Highlights

Only 25% of consumers have undertaken any of the actions normally associated with estate planning, like making gifts to loved one, gifting a home to children etc. This is less than the 35% which have made a will: for almost half of consumers estate planning is associated only with making a will. Consumers who have taken any estate planning action tend to own estates which have a much greater value compared with consumers who have not acted: in other words, wealthier consumers are more likely to have acted compared with less affluent consumers.

The briefing (73pp, PDF), is available directly from IRN Research

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