Sometimes disinheritance is more practical than personal.
The short answer to the title question is “yes.”
The famous entertainer Bruce Forsyth left nothing to his children.
According to a recent Starts at 60 article titled “Millionaire performer Sir Bruce Forsyth leaves kids nothing in will,” Forsyth left his entire estate to his wife Wilnelia.
Was he simply not fond of his six children?
He made his decision based on estate taxes in the United Kingdom.
Inheritances can be taxed if the recipients are children.
If the beneficiary is a spouse, the assets from the estate will pass tax free.
Although he left $15.4 million to his wife, Forsyth did take a few steps to provide a small amount to grandchildren.
He created a trust to divide $130,000 to his nine grandchildren when they turn 21.
He also made sure to provide a compensation of $26,000 to his two executors.
Forsyth received a knighthood in 2011. His last appearance on TV was at Christmas 2015, when he sent a festive message to fans.
Forsyth planned ahead for his estate and, consequently, he made this time of sadness a little more peaceful for his family.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: Starts at 60 (June 19, 2018) “Millionaire performer Sir Bruce Forsyth leaves kids nothing in will”