Children could face heavy tax burdens if parents fail to tell them inheritance plans

Parents are choosing not to tell their children about their inheritance plans, leaving them at risk of being slapped with unexpected tax bills, new research has found.

According to investment manager Charles Stanley , more than a third of Brits have an alarming lack of knowledge of how their parents plan to pass down wealth, despite advisers expecting billions of pounds of assets to be transferred to the younger generations over the next few decades.

In particular, Gen X, who are the first in line to inherit Baby Boomers’ wealth, are often left in the dark, with 36 per cent having no idea of their parents’ plans.

Nearly a quarter had never discussed the topic with their parents.

Meanwhile, 27 per ce

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