To disagree with inheritance as a concept

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Just that. I think it's odd that the concept of inheritance is barely questioned in our society.

I don't think that anyone can really talk about social mobility in a meaningful way, or interrogate the class system, while wealth is still inherited.

Inheritance IS the class system.

In my opinion, inherited wealth is incompatible with a meritocratic society. It is also add odds with entrepreneurialism, and more generally the notion that wealth is earned through hard work, and thus deserved.

Thoughts?

Seeing homes and small businesses as nothing but the equivalent in cash imo contributes to the distruction of communities, particularly rural ones.

I agree badguider.

The threshold is too low IMO.

I think if an inheritance of more than £325,000 was held in cash, then it might be fair enough, but when it's in property it really isn't. That amount is about the current value of my house, and it's only a tiny three bed ex council semi. I just haooen to live in an area where house prices have risen a lot in recent years. It has loads it needs doing to it to maintain that value, and it's value is one comparative to other property in the same area.

If DH and I popped our clogs tomorrow and our children were old enough to be independent, by the time funeral costs, probate, selling costs and tax had been paid for, our dc wouldn't stand to inherit that much in the grand scheme of things. It would be enough to get them a deposit on their own mortage, or perhaps make their crippling mortgage slightly less crippling, but it's not actually going to give them that much advantage at all.

Certainly not anywhere near enough for other people to get get up about or be disadvantaged by.

And when a partner dies, their surviving partner should not inherit their possessions?

If so, what if the surviving partner remarries (possibly someone a generation younger) then passes it to them.

When the new partner is again single, they could choose a partner etc etc.

And if both parents die, children get what to look after them into their adulthood?

Crazy notion, in theory it sound lovely that everyone starts off the same, yada yada yada, but in reality families would be torn apart, homes sold off, children left with no home to live in, inhertited money wasted by the government and the seriously wealthy would find ways around it (marrying a token younger person, income in a business or trust etc).

Brilliant post, Jenny70, that sums up the lunacy of this crazy fantasy

Can't reply today - not being rude - but will get back to this.

You can already do that, Arisbottle, nothing stopping you.

I think it's a good question to ask OP, but unworkable to enforce except thru changing cultural expectations.
People would just find ways around it.

Can I still give gifts to my kids? What will the cap be before it's an inheritance, £100, £1000? Per year, per life? Can I sell my house to my kid for £1000, why not? Etc.

Besides, how is it okay to ban inheritance but still let some people pay high ££ to educate their kids at most prestigious schools, some kids get tutoring & others don't, some get elite sports tuition others have no opportunity, etc. all based on household income, etc. Inheriting your parents' estate is like every other circumstance/advantage/problem you pass to your children, really. Inherently unfair.

Sorry - I got sidetracked by another thread. Bad bad OP. I will get back to this - do want to have time to write proper answers.

Has anyone seen heir hunters where beneficiaries of wills are tracked down. It turns out you have been left £000's by some long lost relative you never knew? Doesn't seem right but it is better than going to HMRC I guess

Llkjj I have not said that anyone has stopping me. I was explaining why my DH and I will not be leaving our children the inheriticance that we could

We are not wealthy but I suspect that because we have been lucky we will be able to leave our children a six figure inheriticance if not more. We have five children at the moment and hope to have at least one more. That would mean leaving each child around 200K, I am distinctly uncomfortable with giving one person that sum of money. I do think that sum of money could make a huge difference to a number of individuals if donated to charity - which is what we will do with most of it. I also have no problem with 40% of that money going back into the state to pay for schools, hospitals etc. In fact I feel some pride that someone as little and insignificant as me could do that.