MOST PARENTS RESIGNED TO SPENDING THEIR CHILDRENS’ INHERITANCE ON CARE IN OLD AGE
Nearly three-quarters of parents are resigned to leaving their children without an inheritance in order to fund their own care in old age, according to an LGA survey. David Rogers, chairman of the LGA’s Community Wellbeing board, said: “The results are a wake-up call for children who have not yet started to plan their finances for the future or for those who have not even considered the cost of care in old age.
“It seems unlikely that future generations will be able to enjoy the same as their parents, and any inheritance they do receive may well be spent on their own future care costs.”
Mail p41
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=532149&in_page_id=1770

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