Nearly half (47%) of Moneywise.co.uk users would pass the majority of their estate on to their children when they die, according to our latest poll results.
After reporting how Housing Minister, Gavin Barwell, said parents should skip a generation and help their grandkids to get onto the property ladder – something his own mother is doing, we asked: “Who do you want the majority of your estate to go to?”
Just 6% of the 783 who voted said they wanted to leave the majority of their inheritance to their grandkids, and no-one said they’d give the vast majority of their cash to great grandchildren.
Leaving money to a spouse or partner was the second most popular choice, receiving 31% of the votes, while 3% would leave their estate to nieces or nephews. A further 4% said they want the majority of their estate to go to charity.
However, 6% said they won’t or don’t intend to have an inheritance to pass on at all.
One user of Moneywise.co.uk points out: "Gavin Barwell said that his own mother plans to leave her estate, which includes a £750,000 home, to her five grandchildren.
“Mr Barwell suggested that others should do the same, as skipping a generation would combat ‘inter-generational unfairness’. It's alright for him, with his rich relatives and expensive house in Croydon.
“Might I suggest that the Minister for London gets out a bit and comes up North. Things are a bit different up here. #outoftouch”
See the pie chart below for the full poll results (click to enlarge the image).
Whoever you want your estate to go to, ensure you write a will noting this. See our guide on Why you should write a will. October is also Free Wills month, so now’s a good time to get your wishes into order.