Cut inheritance tax, I'll pay more tax so some kids can get a free house

[truman]

I don`t understand all this antithesis towards paying tax towards "the state" or "the government", like it`s paying dosh to satan. Quite apart from anything else they were voted in and let`s not forget that money is what goes to pay for the NHS, the schools, the army, etc etc.

 

I don`t agree with you about wanting to pass it on to your kids "any loving parent would". What about them making their own way in the world and developing a bit of self esteem from so doing ?

Your attitude doesn`t surprise me though, let`s face it compared to only 20years ago the vast majority of kids are spoilt these days, "we`ll give them what they want to show them we love them".

The thing is kids get so used to getting all, or even most of, what they want that virtually all of them will expect a free house when Sir Steven Senility comes calling to their parents.

 

Like I`ve already said, if I had kids and they were happy to accept handouts from me, or anyone else for that matter, I`d feel I`d failed as a parent to bring them up right.....

 

So if your siblings accept their inheritance then your parents have failed? I'm sure they'll be pleased to hear that...how do you know what anyone who receives an inheritance will do with it? How do you know the kids have had everything they want?You're making a lot of assumptions..I'd sooner my kids have anything that's left rather than it go to pay for some sponger's 5th kid...

[CottonTop]

Just read an article in my paper here about this very subject. Right now, estates are not taxed inheritance if the value is under $3.5 million for a single person or $7 million for a couple. For 2010, inheritance tax is waived altogether and then it drops back to $1 million in 2011.

 

So next year is the year to pop your clogs if your live in the USA. I must remember that.

[max]

I certainly have.

The problem is that my siblings are a little less idealistic than I am, which rather defeats the whole object.

Anyway, hopefully they`ll spend as much of it as possible before joining the nailed on parrots.

 

Try and persuade your parents to sign up to this: Gifted Housing Service

 

That way they'll enjoy the benefits of their home without any of the worries about bills and avaricious relatives.

[carosio]

Just read an article in my paper here about this very subject. Right now, estates are not taxed inheritance if the value is under $3.5 million for a single person or $7 million for a couple. For 2010, inheritance tax is waived altogether and then it drops back to $1 million in 2011.

 

So next year is the year to pop your clogs if your live in the USA. I must remember that.

 

Keep a wary eye on the kids, though!

[Justin Smith]

How do you know the kids have had everything they want?

 

Kids, or anyone else for that matter, should never "get everything they want".

[carosio]

 

I don`t agree with you about wanting to pass it on to your children. What about them making their own way in the world and developing a bit of self esteem from so doing ?

 

The child may be disabled or disadvantaged in some way and perhaps there's a mutual desire for him/her to remain at home should the parents die first.

Inheritance can also work the other way; the children (adult) might want an elderly parent to remain in the family home should the former die first. If you believe in the family as a unit then financial support between members is surely a laudable principle.

[truman]

Kids, or anyone else for that matter, should never "get everything they want".

 

I never said they should...

Just in case you missed my earlier post..would you say that your parents have failed if your siblings accept any inheritance that may be coming their way? It's obvious from the thread title and your opening post that this is just a "I don't want to pay any more tax" moan.....

[Justin Smith]

The child may be disabled or disadvantaged in some way and perhaps there's a mutual desire for him/her to remain at home should the parents die first.

Inheritance can also work the other way; the children (adult) might want an elderly parent to remain in the family home should the former die first. If you believe in the family as a unit then financial support between members is surely a laudable principle.

 

You have a point about money being left to a disabled person who may not be able to make their own way in the world, e.g. someone with Downs syndrome. But everyone who is able to make their own way in the world should, in my opinion, do so.

Helping and supporting ones kids whilst they are still kids, provided they`re not spoilt, is laudable. But there comes a point when they should get out from under their parents coat tails and make their own way. How else will they gain any satisfaction or genuine self esteem ?

[truman]

You have a point about money being left to a disabled person who may not be able to make their own way in the world, e.g. someone with Downs syndrome. But everyone who is able to make their own way in the world should, in my opinion, do so.

 

So you don't think we should have JSA etc?

[Justin Smith]

So you don't think we should have JSA etc?

 

What`s JSA ?