Parents want to control how the money they bequeath is spent by their children, according to new research from Prudential.

Many of the baby boomer generation plan to pass on significant assets to their heirs due to rising property prices and pension wealth, and 77 percent of over 55s have indicated that they want to have some control over how their legacy is spent.

Over a quarter (26 percent) of parents are concerned that part of an inheritance may be given to spouses of their children in the event of a divorce, and 30 percent do not ...