Discussing your future and what you hope to leave behind can be a challenging conversation. Inheritance often brings its own set of issues. That’s why communicating your wishes early is so important.
Why it’s important to talk about inheritance
It’s important to set clear intentions with family members or friends when discussing what you plan to pass on and the wishes behind it. Making sure everyone understands that a will exists and who is responsible for carrying out their wishes. Overall, this transparency helps others understand your reasoning for passing on certain assets or personal belongings.
HM Revenue & Customs has reported that inheritance tax receipts have risen to £6.6 billion in the first nine months of the 2025/26 tax year. With UK house prices continuing to increase and unused pensions becoming subject to inheritance tax from April 2027. This will result in more families are likely to be drawn into the inheritance tax net. Planning is essential to protect your estate and set expectations for your family.
When you don’t talk about inheritance
Many people avoid or simply forget to discuss inheritance. There are various reasons why this happens, but the lack of communication can create challenges for loved ones after they pass.
Potential challenges may include family disputes caused by poor communication. When expectations aren’t aligned, misunderstandings can build up and lead to conflict within the family.
Uncertain about a loved one’s inheritance?
When you’re uncertain about a loved one’s inheritance, it helps to take things one step at a time. Start by gathering the basic information that determines what happens next.
Some key questions to consider:
- Did they leave a will? This is the first and most important question. A will outlines the deceased wishes and who inherits what. This document usually names an executor to manage and distribute the estate.
- What happens if there is no will? When someone passes away without a will, this is known as intestacy. In these cases, their estate is distributed according to the UK’s intestacy rules. These rules prioritise family relationships based on marriage and bloodline. Legally adopted children are treated the same as biological children, but stepchildren have no automatic right to inherit.
- Who handles probate? Probate is the legal process of administering the deceased’s estate. If there is a will, the executor named in it applies for probate. If there is no will, a close relative may apply to become the administrator.
- What happens if an inheritance is left unclaimed? In certain circumstances, an inheritance may remain unclaimed due to intestacy or without close relatives to administer estate. In these cases, the estate can remain unclaimed for up to 30 years before it ultimately passes to the Crown. During this period, the estate is usually added to the Bona Vacantia list of unclaimed estates.
Conclusion
Approaching the topic of inheritance can be difficult. However, remaining transparent with family members and heirs can set out clear intentions and the opportunity to ensure you express your wishes. It can be an uncomfortable conversation to talk to your family about your estate planning. However, there is much to be gained through these conversations. If you are uncertain about a loved one’s inheritance, contact us today and we can assist you.
