Most over-55s say they will continue to pass on their wealth through their wills and estates planning after death despite a rising number of inheritance disputes and concerns about rising taxation, new study has revealed.

HMRC has identified £156m worth of gifts in the last year that may still be liable for inheritance tax as the donor continued to benefit from the asset after making the gift, according to analysis by TWM Solicitors.

Over half (54%) of over-55s who have given a financial gift in the last seven years have failed to keep a record of it, according to new research.

One in eight (13%) of retirees plan to cut back on gifting to children and grandchildren, according to a new study.