I’ve never known anyone who had their life destroyed or wasted by inheritance tax.
I’ve known dozens who had their lives, and families destroyed by or wasted their lives waiting for inheritance.
The adage ‘rags to riches to rags in three generations’ comes about exactly because one generation works hard and builds a fortune and the next generation waste it.
Families ripping themselves apart over inheritance, long married couples divorcing when an inheritance is in the offing, kids wasting their lives because why study and work, an inheritance is coming.
I’ve seen it happen dozens of times.
I can think of no better way to cripple your kids than promise them an inheritance, no better way to rip your own family apart than leave them an estate to argue over.
I agree with you on capital gains tax for property gains.