Leaving some of your pot for the kids as inheritance - why?

mountaindreams

A lot of people here are talking about leaving an inheritance to children who are pretty much pensioners themselves whereas families may be at very different life stages. As older parents our children may only be starting out in adulthood when we die so our pensions as well as providing for us in our old age are also a form of life insurance while they are children. We don't plan around our pensions providing an inheritance but do view it more as a life insurance while they are young and if there is something left for them if we live older then that is a bonus. Many parent these days help out their kids in their 20s and I'd like to be able to do that whether alive or dea.

Peterrr

The 2015 pension reforms freeing retirees from having to buy an annuity, along with DC pension pots being out of scope for inheritance tax (for now) have contributed to increased overall inheritances. As such many more of our generations are facing these (happy) dilemmas.
We hope to pass on a large chunk of any inheritances we might receive directly to our kids (likely in their 20s when such a time comes) and we look forward to spending it vicariously through them.

ZeroSum

I'm similar to OP in that my planning doesn't include any inheritance as realistically I'll be in my mid late 60's.

However, since I've had kids later on in life, depending on how things pan out, they'll probably be main beneficiaries as it'll coincide with them getting their own place & will be a decent house deposit

Silverbullet036

Our wills leave all our money to charity as we dont have children. My parents who are divorced wont be leaving anything to me (father has nothing and mother will leave it all to my sister). My wife has been written out of her fathers will and her mother has given everything she has to my wifes brother anyway so has nothing left. Families are a funny old business , my wife worked in wills and probate for a number of years and first hand saw how inheritance issues tore families aprt