Death and taxes

I hate to be nasty to an old lady, but when the media elite get to mouth off from their pedestal on things they know nothing about, or choose to interpret to fit some cosy view of a world they are privileged to inhabit, I see red:

Dear Ms. Bakewell,

Further to your piece, It is a rare tax that can inspire generosity, and in particular:

Gifts made more than seven years before your death will go untaxed. Now is the time to give some of it away.

I must respectfully diasagree.

Why then, can you not give it away immediately, or in fact immediately prior to passing, on the same basis you espouse?

It simply seems to allow time for a game to be played between the Treasury and a lot of vastly paid folk in the City and Lincoln’s Inn Fields, that most mere mortals cannot consider affording. Guessing the date of one’s demise to ensure the best use of the funds for one’s retirement to that point, and the betterment of those who have helped make it comfortable thereafter, to assist such leeches, their gold-plated salaries and index-linked pensions can not be what you are promoting, surely? You seem to be advocating more the crushing of the majority to penalise a minority (most of whom are immune), and while that may satisfy your view of the world you inhabit, it does not mine.

I returned from abroad with my young family several years ago to help my mother tend my dying father, and now find myself fitting in her care around trying to generate a living and establish the foundations of a comfortable retirement for my wife and myself - to avoid being a monetary burden, at least, on our future family members. This has required many career and financial sacrifices on our part, some of which have benefited the state already. It has to an extent been my choice, already with the support of my mother’s inherited income, to pursue a dream of a better future for my nearest, dearest and, I’d hazard, others. But by not being the beneficiary of all my Mum may end up leaving me will not make things easy, and will run contrary to a lot of the ‘logic’ you seem to hold so dear, in terms of family cohesion or avoiding future calls upon the state.

Depending on your view, I have either done very well or very badly. I have looked after both my parents' interests pretty well, a fact recognized by my mother who is more than happy for me to take over her finances in my name and look after her as part of the family she helped establish, and of which she is very much part.

However, despite having an Enduring Power of Attorney, as her sole heir (in addition to her grandsons, for whom I am trustee to her bequests) I doubt the Court of Protection would view this move as in her best interests. And, unless I have missed something, neither would I. I love my wife very much, and she me. But I am too old to be a total romantic. Things can change, especially as careers come to a close and kids leave. It is just possible therefore that having handed over her gift my mother would find half of it (and a large % of what I have committed to devote to her care until she passes on), going... elsewhere.

So I am afraid I cannot accept your statement is as you would have it. And, frankly, that a lot else behind your piece as being either fair or just in the circumstances I, and many others, have had to commit to. The current system still benefits those able and willing to avoid the proceeds of their ancestors' slave trade or other ennobled efforts (how much tax do Messrs. Fayed, Green or indeed many highly-placed Government supporters contribute again?). And while I am sure you are an exception, I can think of a view media celebrities of stage, screen and print, with oft-quoted egalitarian views, who I suspect have a speed dial to a good adviser with a nifty way to ensure the Tuscan villa doesn't come into the reckoning. Not all of the beneficiaries of a more equitable solution are the descendants of the rich, be they old money or nouveau (as you polish your Guillotine, be careful who the mob comes for next), and it frankly smacks of idealistic meddling to claim otherwise, at least in the terms you do.

Yours sincerely, an illogical crackpot (by your definition, at least),

I am juggling a lot, including making Junkk.com work, on terms that are of my choosing, but by any measure would destroy her beliefs, logic and defences. Trouble is, those with nothing to lose (gold-plated, index-linked ones) are setting the system and being supported by dewy-eyed, fabulously wealthy media types like her who think they know what's best for 'us'.