To think it’s unfair that some people get inheritance while others start with nothing?

SerenityNowSerenityNow · Today 14:27

Who gets the money then?

Meeeeeeeeeeee!!!!!!

My dad always said 'Nothing's fair in life's, and he's right. If you're a parent, you might want to live frugally so that you can pass something on to your children. It would be unfair to take that away from them. Yes, richer families benefit but inheritance tax at least mitigates that a bit.

Often inheritance is the only way some families can afford to get on the property ladder despite being good earners

this is the problem!!!

Inheritance will partially be re-spent in to the economy. It fuels the jobs that services that spending.

Do you think that will stop is getting poorer?

Perhaps the best thing to do is to take it up with the powers that be who determine which parents you will be born to…. Oh, wait. Welcome to life.

you inherited a place in one of the richest countries in the world.

if you really want to make it equally fair, every human should be born in the poorest countries in the world and start out with nothing

Life isn't fair, that's for sure. It's got worse for generation z too - they basically can't buy a home or accumulate wealth unless their parents can give them a leg up.

I agree life is unfair and is getting unfairer. But I don't agree with your solution. I'm a single mum who has managed to build wealth for my daughters with no help from my family. It's human nature to want to see your children thrive

Yes, their parents arranged it. Should I come to your birthday and take your presents away because you did not buy them?

honestly, you are speaking like someone has come and eaten up your lunch. Did you have lunch and can you afford at least food, never mind inheritance

I’m a huge lefty liberal, and I think you are wrong, inheritance tax yes, take it all away, absolutely not! Many low or middle income families have worked their whole lives to buy property or save to insure there’s something to provide security to their dependents once they have passed. Some people inherit millions, some a couple of grand, why should everyone be penalised because some have more than others. Often inheritance is the only way some families can afford to get on the property ladder despite being good earners. Going to add that I feel this way despite not being inline for any inheritance. I do think there are other ways in which we can level up equality and it’s more complex than taking away inheritance.

So take it up with your Mum and Dad, if they’ve failed to accumulate any wealth to leave

So people who bought houses in different parts of the country are failures?

My neighbour is a retired nurse in a housing association property. Did she fail?

Don’t throw a jealous tantrum because other people have arranged their lives differently

Arranged their lives differently by having wealthier parents? 😂

Are you suggesting that should be taken into account? It's an interesting approach - maybe untaxed gains (house price inflation) should be subject to different rules than saved income.

Uk has one of the highest IHT in the world. Japan has the highest. We are in the top 4. In fact I would say top 3 if you take allowances and variation levels in to account.

Inheritance will partially be re-spent in to the economy. It fuels the jobs that services that spending.

So take it up with your Mum and Dad, if they’ve failed to accumulate any wealth to leave 🤷🏻‍♀️
Don’t throw a jealous tantrum because other people have arranged their lives differently.

Why don’t you focus on the huge amount of tax people who leave sizeable inheritances have paid throughout their working lives?

@AzurePanda how have you come to that conclusion?

I'm afraid life isn't fair and to be honest even if you don't have cash or houses to leave then at least get a decent payout life insurance policy whilst you are in decent health - for £20 a month you can get a very healthy policy if you start early enough-

A uni friend had a stroke at uni & a colleague had lymphoma at 22. They are both fine now but don't have life insurance, the cost is prohibitive.

Why don’t you focus on the huge amount of tax people who leave sizeable inheritances have paid throughout their working lives?

Someone else benefiting from an inheritance takes nothing away from you, indeed chances are that you have been a significant beneficiary of the fact that they have been net contributors to the exchequer.

I inherited a while ago. I’d much rather my grandad and dad were here. Dad died first and with no will when grandad died it came to me and my siblings.
as I said, I’d rather have them back.

I'm afraid life isn't fair and to be honest even if you don't have cash or houses to leave then at least get a decent payout life insurance policy whilst you are in decent health - for £20 a month you can get a very healthy policy if you start early enough-

My SILs dad died, she was 23. Sure as only child of divorced dad she got about half a million and was able to buy a house outright. Massive advantage. She'd much rather have had her dad though, and I'd far rather have my parents around than have that money also.

My parents came from humble backgrounds. In fact my dad was only semi literate. What he was though was a grafter and worked hard in the building trade to give his kids a better life. They both died relatively young(dad 56, mum 67) so yes we inherited some money. I can't see an issue. We're hardly Elon Musk or anything but we're able to clear our mortgage in our 40s.

Exactly! some people work hard to own there homes and look after their families and grandchildren.
I worked 7 days a week when my husband was made redundant, while others stuck to 16 hours to claim benefits.
I don't want my money to benefit people who do not work hard in life.
I am by no means wealthy but have a property I hope my family benefit from

As someone who has inherited money from my parents, a lot to do with that was the boom in property prices rather than solely their hard work, so that is luck, both on my part and to a degree, theirs. (I'm not saying they didn't work hard, but the increase in the value of their house was independent of how hard they worked) They inherited very little from their own parents because they lived in rented or social housing, but got on the property ladder in the 1970s.

Out of curiosity, why haven't you used it?