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Counting on the great wealth transfer? Expect an $84 trillion mess instead.

  • Britons aged 55 and over may face higher inheritance tax if they neglect to create a Will, with HMRC reporting inheritance tax receipts of £7 billion for the 2024/25 financial year.
  • Over half of UK adults have not written a Will, according to Canada Life, with 13 percent stating they have no plans to write one in the future.
  • Free Wills Month offers free will-writing services to those aged 55 and over, aiming to reduce inheritance tax burdens.
  • Changes in inheritance tax rules starting in 2027 will affect more families, as defined contribution pension pots will now be included in estate liabilities.
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GB News broke the news in London, United Kingdom on Sunday, March 2, 2025.
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