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It's educational reading all the comments - so thank you all for sharing.

I lost my Mum to cancer a few years ago, and although she had little left (she was a giver and a spender rather than a saver) settling her affairs was relatively straightforward - although her and my father had paid for an inheritance company to handle their affairs.

My father is very elderly and has progressive dementia. I have POA over his affairs, but I can't deny the thought of dealing with everything really scares me, as he has lots of different financial pots in different accounts and tied up funds and his property too. I know with all his financial know-how he's always done the best for him ... but the thought of understanding and sorting it all out really, REALLY scares me!

It’s misleading - I hope not deliberately so - to say that inheritance tax will be 40% of the overall estate. It’s 40% over a fairly substantial allowance, which is doubled for a couple.

In this family any inheritances received have always been fairly distributed, and the same will go for whatever dh and I will be able to leave. I’m glad to say that there have never been any disputes.

I have heard so many nightmare stories from friends, usually being left out of a will when a parent married again. I have decided I would rather share my money around as much as sensible to those I love whilst I am still here rather than risk it not going the way my will says. My stepfather changed his will twice after my mum died - very complicated, but instead of me and my siblings inheriting some of my mums estate as she put in her will, we ended up with nothing and my step siblings had it all.

I have had two experiences, both completely different. When my husband, who was probably the most organised and meticulous man ever, died young and very suddenly, he didn't leave a will. It made a tragic situation even more stressful but was all dealt with within about 6 months ans I was left comfortably off. When my Dad died I was the executor and sole beneficiary and it was very simple. I have a will but do worry that if I die soon my children will inherit a substantial amount of money while they are quite young, early twenties. My lovely late Dad once told me he "was never left anything except brokenhearted" - it doesn't matter how much money you are left, I would give every penny for one more minute with my husband. Yes, having money cushions daily living but it never mends a broken heart.

I have little experience of inheritance not having been a significant beneficiary of one. Mine was a comfortable though modest family and my siblings and I enjoyed a good family upbringing and education up to post-school level - me up to Master's post-graduate level and diplomas - but received little in material inheritance. However, I do not begrudge this. I was brought up well and inculcated with the right values. That is my inheritance which I hope to pass on, hopefully with a little in material terms too.

Your statement that IHT is paid at 40% on whole estate is incorrect as you have not taken into account the NIL rate band.

Sadly my parents passed away when I was at school many years ago so I along with my siblings inherited but I can’t remember how long it all took. Husband and I have made a will.

I received an inheritance from my parents when they passed many years ago.

We have spoken to my two children about their potential inheritance, and what we will leave each one. It's a little difficult as one of our children still lives with us, and as he is earning a low salary, we would like him to have our home when we go. Our other child will receive money.

Our wills have been made out, and we think this is fair to both.

I inherited from an aunt, which has been invested. I have enjoyed the benefits and have plenty to pass on the majority to my three children.

We don't have a lot but what we do have we have been giving to our children "with warm hands".
We have wills and LPA arrangements.
For the LPA we have arranged that at least 2 of our 3 children must agree on any course of action.

My dad passed away last week age 96 and I am executor of his will. Fortunately he was very well organised and mentally very astute, and kept everything important filed meticulously. As one of 5 I don't expect to inherit a huge amount, and what I do get will go to my children and grandchildren. We often speak to our children about what our wishes are and have made a will which leaves our estate divided between the 2 of them. I can't collect the will from the solicitors until I have a copy of the death certificate, but as I have a copy of the will, I don't think there will be any surprises.

I haven't really thought about this yet. I haven't got anything of value to leave, our house is owned jointly, my savings are minimal, I don't own expensive jewellery. If this changed then I would have a conversation with my husband and son and sort out a will. My Mom died when I was 12 and didn't leave a will or any inheritance, my Dad died over 10 years ago and did leave a small amount. My husband and I were in charge of executing his will and final wishes, the money he left went to the grandchildren but he left me and my husband his house. I found it all confusing and am so grateful that my husband dealt with it all.

I doubt that there will be anything left to inherit when my parents die but to nursing home fees etc - I am just glad that the money is there for them to be cared for well.

We have just done another will - I think covid has made us all feel a bit more mortal. I am relieved that it is done but ‘blended’ families can make things a little more complicated.

When my mother died I was her executor and did probate myself using the Which? book available at the time. I was amazed to find I could do as I pleased. As an only daughter I was able to amend the gifts so that people my mother had excluded for idiosyncratic reasons would still get the small bequests she had made to most female neices and neices-in-law. She had made these because she had been so delighted when her childless aunt had left her something. The chap who did the probate explained, when I asked, that I could indeed do what I liked unless someone who thought they should have benefited objected after requesting to see the will. I find this amazing. When I asked to see my Godmother's will I found the same rules don't apply in Jersey where she kept a lot of her money and that I could only see the part of the will relevant to me. Arcane area.

My mother stubbornly refused to give POA, she also stubbornly allowed me to buy her flat. I explained that if she needed care everything would go to the care home/council, but her 'friends' all said it would never come to that. Sure enough it did and the council got everything, there was nothing left for me except ongoing debts. I learned from that, we have made our wills, written and signed an advanced directive, given each other POA and paid for our funerals in advance. I will not put my daughter through the 10 years of heartbreak I went through when mum was in the home and I had to battle with every department that exists to deal with her affairs as I didnt hold POA, although they were all happy to accept my cheques.

I think this is a difficult subject. I made a new will and decided to leave my son 50% of my estate (I don't have a lot but I have a house) and then the other 50% to be divided between my 3 grandsons. I felt this was very fair but when I told my son he seemed hurt that he wasn't getting it all! He said he would have given the grandsons some but I just thought it was nice for them to get it direct from me. I also made my son the Executor but lately think this might not be a good thing, he is quite sensitive and I think he might be too upset to do it so I might change that but the 50/50 split is staying.

My parents never bought a house as they married during war time and thought it might be bombed with no reparations entitlement, so they never had anything to leave myself and brother. I have a very modest house and no savings to speak of but have made a will automatically leaving it all to my son.

I have a will and power of attorney set up.
My Mother wouldn’t leave a will and it was left to 7 siblings to sort out.
Caused a lot of stress.

Took nearly 2 years from start to finish.

My mother was very organised and left everything split between my sister and myself with all documents neatly filed in a shoe box. Dh and I are doing likewise. It’s slightly more complicated with us as dh has (adult) children from a previous marriage but we both have wills and hopefully there will be no problems once we are gone.

I have never received an inheritance and I don't expect to receive one. I have no money to leave and my half of the house will go to my (10 years younger) husband when I die. In turn he will leave the house and any money (!!) to our adult children.

I've thankfully not experienced anyone close passing away. My mum has made her will as her new husband is 20yrs younger. My husband and I havent made any plans yet and hope oneday we will have children to be able to leave our inheritance to

My Dad died about 15 years ago and asked my Mum to share his money/sale of home between the 3 of us, as he lay dying and knowing he had not left a will. My Mum was still married to him at the time although separated for many years as she lived with someone else. She took many years to tell me she was not giving me the money., saying I had done something horrible (which I had not). She has given it all to my sister.

I have PoA for my mother and glad of it as I can protect her interests. It is however, due to her personal circumstances, much more work than I'd envisaged. I don't know what's in her current will and just hope I'm complying with her wishes.

Have received three inheritances now, from parents, inlaws and, most recently my aunt for whom I was both Executrice and sole relative. In every case I have been horrified by the Solicitors charges, which substantially reduce the inheritance and the length of time one has to wait for all the paperwork to be finally completed. One tip for others: instead of appointing a Solicitor as one of the Executors, just appoint family members (if poss) who can then themselves employ a Solicitor to help with some of the necessary and then the Solicitor's fees will be much reduced!

I made a will about 20 years ago, when the kids were small.
Haven't thought about it since, probably should.