ITN News At Ten, right now, house price rises immensely exciting

wotsthat

Fella wrote: »

Anyone intending to bequeath their house should prefer low house prices. For starters, unless their children also intend to never move anywhere more expensive, then high house prices are bad for them. Additionally high house prices may well mean estate duties & could even mean their kids have to sell the house in order to pay them, as opposed to being able to keep the lot & live in it.

How many people move into their parents house when they die?

I'm as certain as can be that people on the receiving end of an inheritance want it to be as large as possible. IHT to pay? Brilliant - it's even bigger than expected.

Fella

wotsthat wrote: »

I'm as certain as can be that people on the receiving end of an inheritance want it to be as large as possible. IHT to pay? Brilliant - it's even bigger than expected.

100% not true in some cases. Why on earth would you think someone would rather inherit a house then have to sell it & buy something inferior in order to pay a chunk of IHT, versus inheriting it and keeping the lot?

wotsthat

Fella wrote: »

100% not true in some cases. Why on earth would you think someone would rather inherit a house then have to sell it & buy something inferior in order to pay a chunk of IHT, versus inheriting it and keeping the lot?

100% not true in some cases? I like that.:)

How many people do you know moved back to their parents after they died?

How many would want to? It sounds a bit creepy to me.

Sibley

LydiaJ wrote: »

Corrected that for you, Sibley.

Out of interest, do you mention the idea of donating 2 quid to Africa as an example of bleeding-heartedness or of a pathetically inadequate level of generosity?

All joking aside.
A great deal of my salary goes towards helping poor Thai families..

Fella

wotsthat wrote: »

100% not true in some cases? I like that.:)

How many people do you know moved back to their parents after they died?

How many would want to? It sounds a bit creepy to me.

Glad you like it, it means just what it says. You said "I'm as certain as can be that people on the receiving end of an inheritance want it to be as large as possible. IHT to pay? Brilliant" and I was pointing out that in some cases this is nonsense.

Re your question, most of the people I know their parents are still alive, however very many of them are not homeowners i.e. they rent or still live at home & would they certainly live in the family home when the unfortunate day comes that they inherit it.

wotsthat

Fella wrote: »

Re your question, most of the people I know their parents are still alive, however very many of them are not homeowners i.e. they rent or still live at home & would they certainly live in the family home when the unfortunate day comes that they inherit it.

I'm not sure how far you can reasonably take this.

Say parents die around the age of 80 then we'd also expect that their children will have made alternative arrangements for accommodation by then.

If they still have offspring living at home when they're 80 then, yes, upon their demise I'd expect 100% of them to stay in the family home. That's 100% of a very small number.

That's how life works. Kids move on and make their own lives - they don't hang around waiting for their parents to die so they can move back. They tend not to be reliant on their parents as they approach retirement themselves. Therefore normal procedure is to liquidate the estate upon death - the bigger the estate the better.

No-one ever received an inheritance and was disappointed that it was too big.

gazzabboi

black_taxi wrote: »

how do you down-size from a 1 bedroom flat?

Buy a 1 bed studio

Fella

wotsthat wrote: »

No-one ever received an inheritance and was disappointed that it was too big.

Simply untrue, there are many cases where children survive their parents and have to sell the family home (or take a mortgage on it) in order to pay the IHT. This is simple fact, not really sure why you're trying to claim otherwise.

Jack_Johnson_the_acorn

Fella wrote: »

Simply untrue, there are many cases where children survive their parents and have to sell the family home (or take a mortgage on it) in order to pay the IHT. This is simple fact, not really sure why you're trying to claim otherwise.

The poor sods!!!!! :rotfl:

Graham_Devon

wotsthat wrote: »

No-one ever received an inheritance and was disappointed that it was too big.

Maybe not, but that's VERY different to what you proposed, which was that people hope their inheritance will be as big as possible when their parents pop it.

It's a terribly sad way to think of things, hence why I don't know anyone that thinks that way. (or didn't, should I say). Most want their parents to enjoy their life while they have it.