More families are tackling the inheritance taboo but nearly half still avoid the difficult conversation.

That was the finding from new research by Investec Wealth & Investment, which showed that 44% of the 1,039 adults surveyed had never discussed what they stand to inherit financially, if anything, with their parents.

This compared to 74% in 2012 when the research was last commissioned.

Chris Aitken, head of Financial Planning at Investec Wealth & Investment, believes that having the conversation early can mean that families can reduce the impact of IHT particularly as housing prices increase, forcing more families into the Inheritance tax net.

When asked why they didn’t have the difficult chat, around a quarter said they were concerned they would appear money grabbing and think their parents would be upset if they raised it while two-fifths did not want to think about their parents passing away.

One in 20 said they thought their parents would be upset that if they raised the issue with them.

A fifth admitted that they would not talk to their parents about inheritance under any circumstances. Nearly a third (30%) said they had a good idea about what, if anything, they will inherit with 24% saying they had no idea at all.

Mr Aitken said: “It’s good to see that more people are discussing the ‘taboo’ issue of inheritance with their parents. While it is a tough thing to do, it can be very important to broach the subject at a sufficiently early stage so that measures can be taken to reduce the impact IHT can have on a family’s assets.

“Rising property values, particularly in London and the South East, are forcing more families into the inheritance tax net. This can reduce assets worth over £325,000, including property, by 40%. Fast-changing legislation means keeping abreast of inheritance and estate tax planning has become more challenging.”

He said: “Experience tells us that it is better for parents and children alike to get the subject into the open and we’d encourage parents to take the lead in this regard. It’s no surprise that many people report finding it hard or impossible to raise the subject with their parents.”

Key findings:

• 40 per cent of adults do not have the inheritance talk with their parents as they do not want address the subject of their parents passing away
• Only 5 per cent believe that their parents would be upset about raising the topic of inheritance
• Almost half (45 per cent) of respondents to this year’s survey said they would only talk about inheritance at their parents’ request
• 8 per cent would only be happy to have the conversation about inheritance if they believed one of their family members was close to passing away