Pensioners are worrying about the tax - despite the majority having already written a will.
There is widespread public confusion over inheritance tax (IHT), HFM Columbus claimed today.
According to the independent financial advisers, most people characterised the levy as the government "taking their money" and that there was "nothing you can do" about it. Moreover, a poll conducted by HFM Columbus of 500 over-65s found that six in ten were "worried" about the tax.
This is despite 91 percent of the group having an up-to-date will, which can be drafted to ensure that their assets are bequeathed to close relatives. Lawyers advise that a clearly-written will allows people to avoid leaving their relatives being forced to pay unnecessary IHT - which can rise to 40 percent for assets worth above £300,000.
Gary Festa, director of HFM Columbus, commented: "Most people were concerned about IHT and thought there was nothing you can do, full stop. Yes, very concerned, very upset that government's taking their money but hey, there's nothing you can do so why worry about it.
"A lot of people we spoke to over 65 needed jogging to what IHT was and when we said 'death duty' they realised what it meant."
HFM Columbus' research also found that 86 percent of over-65s own their home outright.
