Four in ten grandparents (38 percent) have not discussed their inheritance plans with their families, despite 64 percent planning to leave something to their children.

Meanwhile, 37 percent plan to skip a generation and leave money to their grandchildren. However, just two percent of grandparents have shared these plans with their grandchildren.

This is according to new research from Octopus Investments, who manage over £8.3 billion on behalf of retail and institutional investors.