I hate this notion of inheritance being 'for your kids'. All being well (I know that isn't always the case), your 'kids' will be 50/60 when you die and will have 'kids' of their own who possibly might have actual kids by that point. If they've managed to get to 50/60 without your house and money then they're not in desperate need of it when you die, and if they are then you should probably have shared it with them whilst you were alive if you were that bothered. Massive sums of inheritance shouldn't be allowed to be passed on. I know you 'worked hard for it' etc. but then your (grown up) kids should have 'worked hard' too and not get a house and a lifetime of savings just handed to them as they are about to retire.
Social care is also about who runs/owns it. At the moment most of the social care facilities in the country are run by private companies which have a lot of their money funnelled into offshore banking accounts. At least that was the story I was listening to on the radio the other day. I'm sure someone can confirm or correct me
I totally agree. Inheritance tax is not paid until the owner of the money is dead and doesn't need it anymore. An alternative would be to abolish inheritance tax altogether and treat legacies as income and make it liable for income tax in the year it is received.
