More people living to 100 alters inheritance plans

A new report by the Office for National Statistics shows that more people in England and Wales are living beyond 100 years, raising more questions on the affect of an ageing population on employment and inheritance plans.

In 2010 11,610 people reached the 100 years old milestone - over 8,000 more than in 1980. The ONS analysis estimates that most men will reach the age of 85, while women will on average live until 89. The statistics raise new issues for employees approaching what was once traditionally considered retirement age, and also changes the ability of adults throughout Northern Ireland and the rest of the UK to leave an inheritance.

The majority of adults in the UK say they will not be leaving an inheritance as they intend to use their savings to maintain them in their retirement.

If you require legal advice from a Will writing solicitor in Northern Ireland, or require advice on inheritance tax or estate planning, contact Wilson Nesbitt in Belfast by calling 0800 840 9293.