Inheritance Tax

[Moscow Mule]

There is nothing strange about the logic. I have no intention of giving my children any more than a deposit for a property. If I leave them a lot of money they will have no reason to get out of bed in the morning. Why should they have an easy life? why is having an easy life better than having a tough life that teaches you the hardships of life how to deal with them.?
Giving children money in return for not earning it is the worst thing a parent can do to a child it is called spoiling them. They learn to have no respect for money and are stripped of their own aspirations and are likely to blow it on booze and drugs anyway.

So when your kids are 40, and have kids of their own, will you not want to pay off their mortgage for them? I think by then they might get away with not growing up spoilt (spoiled?).

[DodgyAgent]

So when your kids are 40, and have kids of their own, will you not want to pay off their mortgage for them? I think by then they might get away with not growing up spoilt (spoiled?).

fair point. but if they know that they are in for a big pay out then may then borrow against it or not work as hard as they would if they knew they were not going to get anything.

The point I am making here is that if we have a tax system then inheritance tax is as fair a tax as there is. The only people it affects are dead anyway. we teach our children to grow up to be self reliant. This is how they learn responsibility, respect for others, to understand the value of people and things. Giving for nothing is as unhealthy as it gets.

[TheFaQQer]

That may be so, but it should be up to the person making the will to decide what they do with their money.

It's called estate planning. Do it right and regardless of the size of the estate, there is no inheritance tax to pay.

If you're smart enough to have built up this fortune that you want to give away, then you should be smart enough to plan how to dispose of it without incurring taxes.