We should all live as the Queen did

Alex-The-Kid said:
What happens to the wealth once they’ve passed on? It would crush me knowing that my money was going elsewhere and not to my loved ones, people would just hand over everything before they died time willing.
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It would still go to your loved ones. They will pay tax on their inheritance that's all.
 
Loop said:
Most decent people want the best for their children, so if they've done well for themselves it's natural that they would want their kids to lead a good life once they've passed.
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The best for their children isn't the same as the most money. A lot of families lose their wealth over generations because someone working hard and making a success of themselves means their children don't have to work as hard and their children might have no drive to succeed at all because they have everything handed to them from day 1.

Would it not be better for your children to live in a better society than you did rather than them just being relatively better off than other people in a failing society?
 
Alex-The-Kid said:
What happens to the wealth once they’ve passed on? It would crush me knowing that my money was going elsewhere and not to my loved ones, people would just hand over everything before they died time willing.
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Ideally - it all goes back to the state

But, if you knew that from day 1 you would spend it all and enjoy it rather than worrying about giving it to your kids
 
1finny said:
Ideally - it all goes back to the state

But, if you knew that from day 1 you would spend it all and enjoy it rather than worrying about giving it to your kids
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Can I just ask Finny and I don’t mean to ask this and cause any disrespect, but do you have a family?

I only ask as I know from reading your posts that you have been successful in your career and wondered if you will be leaving any of your self earned wealth to your children (if you have any)?

I can see what you’re saying and tend to agree with it, we have my wife’s parents refusing to go on holidays and be rather reckless with the money they have worked hard to earn as they want be in position when they die to leave some to my wife and our son. We both tell them we neither want nor expect anything and beg them (perhaps beg is a too strong a word) to spend what they have on themselves. However I know in a few years time when me and my wife start to enter retirement and our final few years we will probably feel compelled to look after our son.

I’m not sure that I fancy everything I worked hard to achieve is just handed over to the state (especially if something resembling the current shower are still in charge) but then is a fair that my son potentially gets a hand out just because his parents worked very hard???
 
JM14 said:
Worth questioning why an institution as rich as the royal family should be receiving a penny from the state? Surely they have the funds to be completely self sufficient
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I don’t know whether anyone has noticed but the uber rich only get uber rich by sucking the life out of the rest of us - to put it simply they are the human equivalent of parasites
 
Inheritance is a load of BS, only the rich benefit from it, the rest of us either have nothing to pass on or it goes on end of life care
 
1finny said:
What we have today is wealth and, therefore privilege (in most cases) passed down from generation to generation.
As I said earlier - I think that is unfair (if others don’t then that is fine and dandy)
Because I think it is unfair I look at other options.
Maybe it is worth pondering whether there is a better way - more of a meritocracy, if you like.
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The current system is devised to keep the status quo, not for fairness. The very very rich get either exemptions from law (royals) or the ability to use legal protections such as trusts (the very rich including the aristocracy). While you and I have to give 40% of our wealth back to society.

A better system would be to give everyone a flat fee decided at the beginning of every year, dependent on what was collected the previous 12 months or put a cap of 1m, or put a staggered inheritance an do away with exemptions and trusts.

The kind of money and assets passed down in these uber rich old families is staggering, it is wealth that has grown in a lifetime often simply by allowing an investment or wealth management fund to manage it, not through a work ethic and intelligence.
 
Alex-The-Kid said:
What happens to the wealth once they’ve passed on? It would crush me knowing that my money was going elsewhere and not to my loved ones, people would just hand over everything before they died time willing.
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A patriot should be happy that a portion of their wealth goes to support the whole country
 
Alex-The-Kid said:

FactCheck Q&A: Does the monarchy pay for itself?

"The Crown Estates brought in £230.9m to the Treasury last year and Queen only received £32.1m from the state, so on the face of it there's a huge net gain for the taxpayer. That's one reason why monarchists claim that the royal family pays for itself."
www.channel4.com www.channel4.com
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They don't personally own the crown estate. They did once, but to save themselves from bankrupcy (again) handed it over. So no they do not create a net profit for the country out of it.
 
Trug said:
It would still go to your loved ones. They will pay tax on their inheritance that's all.
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Unbelievable they are exempt from inheritance tax so they won’t loose a penny of it in tax. Standard uk values to protect the elite
 
Nano said:
The best for their children isn't the same as the most money. A lot of families lose their wealth over generations because someone working hard and making a success of themselves means their children don't have to work as hard and their children might have no drive to succeed at all because they have everything handed to them from day 1.
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That rarely happens these days for the uber rich who simply put that wealth into a wealth management fund, money makes money if you have enough of it and access to investment managers and offshore tax schemes and trust funds.
 
BoroMart said:
That rarely happens these days for the uber rich who simply put that wealth into a wealth management fund, money makes money if you have enough of it and access to investment managers and offshore tax schemes and trust funds.
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People who work hard nowadays receive poorer reward and pay more for the goods they produce at a cheaper cost.

People who receive poor wages aren't recognised for doing hard work.
 
BoroMart said:
They don't personally own the crown estate. They did once, but to save themselves from bankrupcy (again) handed it over. So no they do not create a net profit for the country out of it.
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Officially the reigning monarch still owns the Crown Estate. But you own the revenue stream as the nation. The revenues are paid direct to the treasury.
 
Abel Tasman said:
Officially the reigning monarch still owns the Crown Estate. But you own the revenue stream as the nation. The revenues are paid direct to the treasury.
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It's a legal minefield, by design, but it isn't hte personal property of any one person, the monarch doesn't own it in any legal sense; It's a trust for the role of head of state, if you change the way that head of state is selected then the legal argument is it would 'belong' to that head of state, if we abolished the monarchy it certainly wouldn't be there's to take with, because they don't own it
 
BoroMart said:
a true patriot wouldn't be whelping about how much, they would be investing in the future of their great nation. Ensuring it stays great.
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What counts as a true patriot? A small portion of someone’s estate would suffice for me. Most if not all of that money has been taxed already. Enough money is pumped into our nation by the tax payer yet the Tory party see fit to waste it.
 
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