If one has tenaciously worked and invested diligently, why shouldn’t they be entitled to leave their assets to their children instead of the taxman? TV presenter Anne Robinson, 79, decided to give her fortune to her children before she dies. “I don’t want the taxman to have it”, she declared. She hopes that by spreading her wealth among her family now, there will be less inheritance tax to pay when she dies. More Britons should do the same, because inheritance tax is an evil, insidious form of governmental robbery that exemplifies an entire system designed purely to strip wealth from citizens.
You’ve worked hard all your life and paid your taxes, and when you pop your clogs that should be it, you should be able to give the entirety of what you worked so hard for to your children, but that’s not the case with inheritance tax.
After your death, the government takes a whopping 40% of your wealth. Don’t allow this to happen.
Of course, Anne Robinson (worth £50 million) knows she can share out her assets while she’s still alive without hurting her current lifestyle or risking being poor in the future. Not everyone is in that position financially, however you can still make moves before to gift your children some of your boomer accrued wealth to not only ease your children’s lives but dodge the inheritance tax hit upon death.
If you do decide to do this, it has to done 7 years before your death, so get on with it.
