Martin Lewis explains what to do with inheritance money – ‘the obvious place to put it’

Martin Lewis explains what to do with inheritance money – ‘the obvious place to put it’

“You can put a lot more money in than the £85k maximum with this one as it is totally protected as the state-owned institution.

“I’d certainly think if you’ve got £70k and you want to hold it somewhere while you’re waiting for a house at no-risk, then NS&I Income Bonds are the obvious place to put it.”

Many Britons could in fact stand to inherit more than they originally expect, so thinking about where best to place a lump sum is key.

A study undertaken by Charles Stanley, a wealth management company, found parents planned to pass on an average of £124,000 to their children.

This is compared to the average most adults expected to inherit from their parents – £78,000.

Published at Tue, 21 Jul 2020 05:27:00 +0000