Those aged over 55 are increasingly concerned about the rising cost of later-life care rather than inheritance tax (IHT) planning, research has found.
Research conducted by YouGov for Mattioli Woods found that when asked about their biggest concerns in passing on assets, over-55s ranked paying for care or later-life costs as their primary worry. This was above IHT, the risk of running out of money in retirement, ensuring fairness between beneficiaries and potential family disputes. By contrast, those aged between 35-44 were most concerned about paying too much IHT, while those aged 45-54 were most worried about running out of money during their lifetime. Despite IHT featuring prominently among financial concerns, Mattioli Woods' res...
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