"Why shouldn’t my mum and dad be able to pass on the money they worked so hard for and made over their lifetime to us?"
The "worked" part is clearly not true for the majority of that inheritance.
"Why shouldn’t my mum and dad be able to pass on the money they worked so hard for and made over their lifetime to us?"
The "worked" part is clearly not true for the majority of that inheritance.
However, only about 30% of the increase in value is down to inflation, so about 70% is just unearned house value increase.
However, only about 30% of the increase in value is down to inflation, so about 70% is just unearned house value increase.
So, the total with the allowances would be 1,370K.
Inherited amount 1,222K after tax.
They could have framed this as 3 children complain about inheriting over 400K each (after tax) of largely unearned gains.
So, the total with the allowances would be 1,370K.
Inherited amount 1,222K after tax.
They could have framed this as 3 children complain about inheriting over 400K each (after tax) of largely unearned gains.