DrFfybes wrote:Nimrod103 wrote:
Everybody's situation is different, and of equal validity. Personally I don't think it right that your preferred charities should benefit at the expense of the common good (i.e. paying IHT should come first, before any charitable gifts). But it is your choice to bequeath to charity instead of looking after any of your family.
I suspect the 2 aren't mutually exclusive. In fact the family may benefit more from not recieving or expecting a large inheritance.
Paul
It's an interesting point.
A theme in business I notice from time to time happening is a small firm or business started and built up by a father has a son begin working in it when he reaches working age. As the years pass the customers of that firm begin to avoid dealing with the son whenever possible, preferring to deal with the father because the son doesn't really care, expects to inherit the business and has an 'entitled' attitude.
Father is blind to this and when he eventually retires or dies the son takes over and drives the business into the ground.