Posted on October 2nd, 2011 by Stephen
The recent news that Jade Goody?s estate didn?t leave the expected two million pounds, but after loans and debts it left her children ?400,000 comes at a time when we might be looking at inheritances becoming less than previously expected.
This may be due in part to the collapse of pension funds, rising life expectancy and the cost of living which only appears to go up and rapidly.
A short few years back it was a well known fact that equities always outperformed most other forms of investment over the longer term. With the Footsie100 showing no sign of getting back beyond the 6000 barrier, it?s no longer the safe place (if it ever was?) to invest.
House prices might be rising in some areas but many UK zones are still showing figures much lower than three and four years ago. It may be that house prices have bottomed out, but some experts are wary to even suggest so.
Living longer means that people will use their investments and saving for a longer period. This may well reduce their values considerably.
An HSBC report states that they estimate that money left to loved ones will peak at ?1.1 trillion in 2047 before going down to just ?552 by 2062. They might be out by a few pounds, but we?ll have to wait and see how accurate their guesses are.
Also from the Office of National Statistics:
Life expectancy has risen across the board. A newborn boy in 2010 could expect to live for 78.1 years, and a girl for 82.1 years ? respectively five and two-and-a-half months longer than those born in 2009.
While women have traditionally lived longer than men, the gap is closing. In 1985, women outnumbered men by 154 to 100 past the age of 65. That had fallen last year to 127 women for every 100 men.
The median age of the population ? the point at which half the people in the country are older, and half are younger ? is now 39.7, up nearly five years since 1985
Filed under: News
Source: http://www.legalsuk.com/blog/?p=433
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