Many people in the UK are set to inherit a property when a family member or loved one dies.

For many, it may be a leg-up onto the housing ladder, but for other beneficiaries, the decision about what to do with the house that is now legally theirs will be a difficult and, potentially, complex one.

Not only are there tax implications to consider but if the property has been left to multiple family members, there will be several people involved in the decision-making process, for better or worse.

The current condition of the inherited property and its location are also likely to be huge factors in whether to keep the property to live in, or as a second home, or whether to rent it out or sell it.

In many cases, the decision is just as much an emotional one as it is a financial one.

The features in this guide will look at what the options are for those who find themselves in this situation and go to their adviser for help. 

It will also compare renting a property with selling one in the current environment, and what an accidental landlord will need to know about the market.

This guide is worth an indicative 60 minutes of CPD.

Contributors to this guide are: Tony Mudd, divisional director, tax and technical support at St James's Place; Sam Mitchell, chief executive at HouseSimple.com; Simon Heawood, chief executive at Bricklane; Alan Collett, fund manager at Hearthstone Investment; Paresh Raja, chief executive of Market Financial Solutions; Philip Hanley, director and independent financial adviser at Philip James Financial Services; Lawrence Adair, private client senior manager at HW Fisher & Company; David Hollingworth, associate director at London & Country; David Cox, chief executive at Arla Propertymark; Lucy Pendleton, director at James Pendleton; Market Financial Solutions; Royal London; Arla Propertymark.

Ellie Duncan is features editor at FTAdviser and Financial Adviser