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LATEST NEWS & EVENTS Inheritance set to rise as baby boomers leave money to children  The amount of money passed down through the generations is set to soar as the baby boom generation takes advice on wills and inheritance tax planning. A new survey reveals that the total value of inheritance in the UK will jump from £194 billion this decade to £1.1 trillion in 2050. The research from HSBC is based on 4.5 million people leaving an average of £238,000 in 2047. However, the Age of Inheritance report states that the £1.1 trillion will be halved within 15 years of being achieved as the next generation faces higher living costs and a longer lifespan. The research also shows eight in ten people aged over 35 expect an inheritance, though just four in ten of those aged over 55 have actually received one. Christine Foyster, head of wealth development at HSBC, said: "There is a vast disconnect between those who have received an inheritance from parents in the past and those who expect to receive one in the future." Over a third (36 per cent) of the population with parents still alive does not know if their mother or father have a will or how they plan to distribute their estate, according to research from NS&I. Posted by Alex McLean 
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