Inheritance tax 'threatens private wealth' without a will

Private wealth may be at risk of heavy duties when it comes to paying inheritance tax for those who die intestate, it has been claimed.

A survey by unbiased.co.uk reveals 30 million Britons have not yet written a will, despite the fact 92 per cent claim they know how they want their assets to be distributed after their death.

The cost of inheritance tax may also be spread through drawing up a testament, as private wealth can be passed on in the form of trusts.

Not having a will may result in this levy being due before the estate is released, meaning families might have to find alternative means - or even take out loans - to honour the tax before they can benefit from the gifts bestowed upon them.

The Guardian recently reported people investing in wine might have to pay unexpected inheritance tax as a result of poor advice, with some incorrectly told levies are charged on the value of bottles when they were bought, rather than at today's prices.  ADNFCR-2318-ID-800157791-ADNFCR