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

Hahaha... Please come back and confirm where my money should go when I die.

It's like the wolf and the 3 pigs. The pig who spent his time and money building a house with bricks, whilst still contributing to the straw and sticks the other pigs used, should have his house taken and given to the pig whose straw house blew down? Regardless of the fact that the straw pig spent his time spending brick pigs money on enjoying himself.

Sorry I'm lost - who is the inheriting party in this scenario? Is that straw pig spending his parents' money?

I’m afraid you’ll have to get used to it. Some people are richer than you.

If you worked your whole life to build wealth from scratch so that your children would have an easier life... wouldn't you want to be allowed to give it to them?

Hell no to working so that the government can take everything you've built once you die.

Not all wealth comes from privilege. My parents worked bloody hard to attain their wealth. IF I get any part of it when they die I won't feel a jot of guilt because THEY EARNED IT.

You sound extremely bitter op.

You don't work hard to build up a stash to leave to family.

You work hard to get an income allowing you to have a good life - holidays, pets, experiences etc.

I'm not planning on dying with money in the bank. I'm hoping to enjoy any money before I go. You can't take it with you.

We had DS in our early 40s so won’t be around as long as other parents. He will benefit from his inheritance but it won’t replace the benefit of having us around. I lost my parents in my early 30s no amount of inheritance has replaced their being here.

Yes it is not fair.
It is not fair some people are born smarter, or more beautiful or more healthy. It isn't fair that some people will face bullying, sexual abuse or racism.

From that knowledge however I have a different take on it - only bring children into the world if you think they can have a fighting chance because not only is it not fair but it never will be and people will fight to keep what advantages (fair or unfair that they have).

This

It's like the wolf and the 3 pigs. The pig who spent his time and money building a house with bricks, whilst still contributing to the straw and sticks the other pigs used, should have his house taken and given to the pig whose straw house blew down? Regardless of the fact that the straw pig spent his time spending brick pigs money on enjoying himself.

Now I'm not saying that there shouldn't be equality of opportunity and that some folk have a hard life because of their parents, but come on, you are looking to punish the wrong people.

It's tax evaders that I think the general ire should directed towards and successive govt of both varieties mismanaging and choosing the wrong priorities.

And how pray tell, would you abolish inheritance?

Presumably by forcing people to surrender everything they have left after they are gone to the state, the crown or those on benefits but not their kids/other heirs. 😉

This.... This is exactly what happened with my parents. I hardly saw my df as a child because he was gone to work when I got up and I was in bed when he got home. Plus the extended overseas trips.

They also were able to pay for their own care when they needed - £1,300 a week for a live in carer, never cashed in the cheques for the cold weather payments and had at least operations privately instead of on the NHS. They were also very careful with their money so that there was something for my ds and I.

I absolutely agree with you. It's a large and growing source of inequality and I would like to see a much larger part of wealth redistributed after death.

I'd like to see inheritances treated as income by the recipients, spread over eg 5 years and then taxed according to income tax band.

My parents left an estate that was just below the tax level (after the domestic property allowance) and I think it was very unfair that we received it without paying any tax. We expect to have a larger estate ourselves to pass onto our children (depending on care home costs etc) and I think we/they should may signficant tax. It just seems obviously right to me.

And no, before anyone suggests it, I'm not going to pay that tax unilaterally as that would be a drop in the ocean and the whole cost would fall on me! But I would very happily do it if everyone else was required to ie I would vote for it in a referendum.

My DP, one of the hardest workers I know, received nothing from either parent. He had to live independently from the age of 16. Gave him a fierce work ethic and he went on to be very successful and runs his own business. I don't think he would have had that fire in him had he had a comfortable start in life. The hand you are dealt is all about how you play it.

And how pray tell, would you abolish inheritance?

Life's a bitch.

I absolutely agree that I want to be able to leave anything I can to my children but agree completely it keeps certain people endlessly wealthy and cringe also when I know that’s how some people have money but they pretend it’s just down to their own “hard work”. But life being unfair is a certainty op.

It is unfair that people inherit their parents ugly genes, or their genetic illness too,

Nice try. You are such a fake post.

is this a rage-baiting thread 🤔

Yes, and everyone is duly raging regardless of the side of the fence they are on 😁

You Sound about 14 OP. Grow up.

I didn't get a penny from either parent. But I think people who do are really lucky and I don't begrudge them. I'm against inheritance tax. It's another unfair tax.

I want to live in a society where everyone has an equal chance at a fulfilling and rewarding life and as a result I’ve always been quite pro inheritance tax.

But abolishing inheritance or even heavier inheritance taxes than they already are are the measures that are really aiming at the equality of outcome rather than equal opportunity, don't you think? Let's say two people were born into two similar families and by similar I mean roughly similar starting points in terms of who their parents were, what they do for jobs etc. One really applies himself or herself in studying, work effort etc and eventually succeeds on all fronts by retirement age. The other chooses to party his life away, does the absolute minimum at work and achieves nothing great financially by the same age. The first one then would like to leave something earned through hard work to the kids while the second one has barely enough for own retirement, let alone anything for the kids. And, so to equalise chances for their kids, we have to either heavily tax the first one or abolish inheritance as proposed by OP altogether? And that ensures the fulfilling and rewarding life in society how?

SoNiceToComeHomeTo

It’s very unfair like many aspects of life. But we have inheritance tax to help.

I think this helps make it more unfair-a lot of people have to sell to pay the tax

is this a rage-baiting thread 🤔

@ThisCandidCritic there would be no point putting in the graft if it were all taken away in the end. Then where would everyone be.

I suppose I could have a jolly old hedonistic time and spend it all on wine, fine dining, holidays and the opera and you could ha e an issue with that? Or if the rules change, we won't spend another penny or pay another penny in tax in the UK because we'll go overseas.

If you want more, work to get it rather than resenting those who have. FYI both my children are working in jobs that put something back, because they have a financial cushion and can.