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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.

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.

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.

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.

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.

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.

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.

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

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.

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 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.

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.

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!

I handled my mother's estate when she passed away. She had a small house which thankfully sold quite quickly, some money and a few insurance policies some of which were very old. Luckily she had kept all her paperwork together and I found it fairly easy. She had made a will dividing everything between my sister and I with one small bequest to a cousin. Thankfully there was no dissent and everything within the family was amicable. My husband and I have made wills and revise them every so often if anything in our lives changes. The bulk of our estate is to be left to one grand daughter - although there are other grand children and children who will probably be very put out by this we never see them and even over this last horrible year they have never enquired how we are or if we are coping so we really don't see why they should benefit after our deaths.

Have you spoken to your loved ones about what inheritance you plan to leave to them?
No. They are too young.
Are you expecting to receive an inheritance?
Perhaps, if the state don't sell the house for care.
Do you know how long it takes to receive your inheritance?
No.
Do you know if you will be liable for an inheritance tax bill?
No.
What would you do if you are faced with an inheritance tax bill – this is 40% of the overall estate?
I'd sell the estate to pay the inheritance tax.
Have you ever wanted to dispute who benefited from a will?
No

Have you spoken to loved ones?
Yes
Are you expecting to receive an inheritance?
A modest one
Do you know how long it will take?
Yes due to the modest amount it should be instantly
Will I be liable to tax?
No it is well below the band limit
What would I do if I had to pay inheritance tax?
Pay from savings
Have I wanted to dispute a will?
Yes currently but don't know how

I k new I would inherit, but I didn't know how much or what. I never expect anything from anyone, so it was quite a surprise. We have made our will, but we haven't told the beneficiaries who will inherit what. When it happens, it will be here - just as it was for us.

I am leaving my whole estate to my son. He lives with me together with his family. However, there will be IHT bill and he will be forced to sell this meet this bill. We tried and tried to reduce this bill but without any luck.
My son owes me approx £30k which is being formalised and paid monthly. Would this debt by any chance be treated as an asset to be added to the estate? Or deducted and thereby reduce the IHT bill? I’ve spoken to solicitor and financial advisor, who have only confused me by giving conflicting advice.
Anyone out there have some advice/ experience to draw from?

When my grandfather died there was enough money left for a small bequest to grandchildren..with my share I bought a Mountfield lawnmower that lasted a good 20 years of heavy duty use and a very good bicycle that I still have 40 years later and has given me hours and hours of joy pleasure and strenous sweaty exercise pushing it up hills I couldn't get up with laden panniers on long distance rides ..a great aunt died and left my sister and I enough money that we used to go on an epic trip to Mongolia a few years ago and to repair a falling down brick stable which has become a covid isolation out house and multi use office/ archive/ library with disabled loo shower and mini kitchen..I am eternally thankful for these and hope to be as useful and joy giving to my heirs if the tax man allows

I inherited a large sum of money from my late mother, who - apart from a few small bequests to close friends - left her estate split equally between myself, my brother and my son. My brother could have contested the will I believe, so that my son would not inherit, but like me he believes that it's everyone's right to leave their estate as they see fit. For myself, now that my beloved husband has died from Covid, I'm leaving everything to my son apart from some small jewellery bequests to friends.

My father and step mother had mirror wills, the bulk of the estate coming to me with other smaller bequests to members of my step mothers family (she had no children just 2 nieces).
My father sadly died first and my step mother changed her will. Her sister suggested that there was some pressure on her to do this but didn't elaborate.
On her death, a great deal went to her nieces...neither of them had been in much contact etc.
I did find it difficult as the estate was largely via my father but didn't challenge anything, it was pointless.
I've since heard of similar instances.

What's an inheritance? Parents died long before the sell off of council housing that has created a lot of inheritance in the past 30 or so years. No I don't know about inheritance, my family do but will not be in the bracket to pay any tax etc.

Wills made by both my husband and myself. My 2 daughters get 50/50 but if I go first my husband can stay in the house until he dies. I will inherit (along with my 2 sisters) when my father dies - at nearly 97 he is hale and hearty and living in his own home - long may that continue.

I'm so pleased times have changed. My maternal grandma received nothing when her father died in 1949. The largest share went to her older brother with smaller amounts to her younger brother, step brother and stepmother. She had to wait until 1968 to inherit the small amount left by her stepmother. Her husband had a low paid job so she had a very different life from her brothers, Hopefully that kind of genderinequality has largely died out. We have had wills since our son was a child and needed named guardians-financial provision in case the worst happened. Now he will inherit as he's our only child. We intend to include our two granddaughters to receive separate legacies and this reminds me we should get on with it. I also intend to specify people to whom individual pieces of jewellery and other items should go.

We haven't spoken to our daughter about this subject. She doesn't really want to talk about it. We've made wills and everything will go to her. We've put a letter with our wills detailing our bank accounts, pensions etc. We have also asked that a nominal amount be given to a couple of members of our family. I know she will adhere to our wishes.
Neither myself nor my husband have ever received an inheritance. Our parents died leaving nothing.