Posted in Family Law
In recent weeks it’s been widely publicised that the much-loved Sir Bruce Forsyth left his multi-million-pound fortune to his widow in a bid to avoid inheritance tax.
Sir Bruce, who died aged 89 last year, bequeathed the £11.7 million sum to his third wife, Wilnelia Merced.
It means his six children have formally been left nothing in the will, meaning that his estate will not be subject to inheritance tax. This is purely because the tax is not applicable to funds left to a spouse.
It is worth adding though that Mrs Forsyth will be able to gift up to £650,000 of Bruce’s estate before it would be subject to tax and may also leave funds to Bruce’s children in her own will.
Sir Bruce, one of UK television’s biggest ever stars, did leave £100,000 in trust for his nine grandchildren, which will be distributed when they reach the age of 21.
This news is more interesting taking into context that prior to his death, he had made his opinion on inheritance tax clear. In an interview with the Radio Times, he said “I think your inheritance should go to your children more than back to the country that you’ve lived in.”
Being London based probate experts we at Pindoria Solicitors see what Sir Bruce has done as relatively straightforward estate planning.
The subject of inheritance is a contentious one, which provokes debate throughout society. Good law firms do not get involved in the debate, but instead act in the best interests of their client.
If you would like to talk to Pindoria Solicitors about the important matter of inheritance tax and estate planning, please contact us today.