A warning has been issued for millions of parents leaving inheritances to children. Wealthy parents have been giving more to charity over the past two years due to rising Inheritance Tax and worries about leaving too much money to their children.

Three in four high-net-worth (HNW) mums and dads with average wealth over £3m believed that leaving too much inheritance could be a curse for their children. Three in five were concerned their children might use the money irresponsibly, too.

60 per cent said their children already had enough money, and over half of parents increased their charitable donations in the last two years. Gemma Gooch, head of charities distribution at Rathbones, said: “Our analysis shows many wealthy parents, already concerned about inheritance tax, fear the impact

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