Wealthy women under 65 are most likely to inherit

By Lenore Rice

A new government study has revealed that self-employed women under the age of 65 who are already considerably wealthy are the most likely to receive an inheritance.

The figures published by the Office of National Statistics (ONS) are based on inheritances received by people between 2008 and 2010. They reveal that 4 per cent of adults in Northern Ireland and the rest of the UK received an inheritance during that two year period, and that the average inheritance was small - under £10,000 in half the cases. A total of £75billion was passed on in inheritances, largely inflated because of a small number of very big inheritances.

Money was the most common things to be passed on in an inheritance, present in 88.4 per cent of bequests. Property was involved in 19.5 per cent of inheritances, and in most cases the beneficiary sold the property.

The report considered which characteristics were common among those people who did inherit, and concluded that working in management, being self-employed, owning 100 per cent equity in your property, and coming from a wealthy family were the most common factors of those who inherit.

If you are one of the 70 per cent of adults in Northern Ireland and the rest of the UK that hasn't made a Will, contact Wilson Nesbitt in Belfast for a free Wills information pack by calling 0800 840 9293, or submit your details for a callback by clicking here.