Bit of a sting isn't it? How many of you are thinking of it nd starting to offload your wealth onto your future generations?  It was something my Grandad always agreed about doing, as it is a sensible thing, sign over your assets to your children and trust that that money is yours as and when you need it.  That takes a lot of trust though, unfortunately my grandad never put his money where his mouth was, which made things difficult for my Nan.  She did manage to sign everything over but passed away not too long after.  Now inhertiance tax will claim on offloading, except gifts of X ammount, the only way we got round the issue of the bungalow was one line.  'She had no right to live in the property'  It's a difficult but essential clause to add into the paper work (ther is a lot more important stuff too).

And now it is time for my parents to be thinking similarly and offloading to myself and my brother.

Does anyone else have any bright ideas of avoiding giving the tax man 60% of hard earned already taxed money? Would you entrust your entire life efforts to your children or alternative?

In Germany we give our houses to our children, but we reserve the right of being the beneficiaries, i.e. we can live in the house until we die without paying any rent and after our death the children automatically inherit it.
In Germany we call it "Nutz- und Nießbrauch".

The problem with that here is if you die within 5 years of signing that over it is seen as offloading and the tax man can still get his claws into it.  After 5 years doesnt matter, but can you guarentee 5 years?  The only way my dad got out of it was because there were no clauses and she had no legal right to live there.

Val / William, do you have grandchildren who are over 18 and you could entrust it to?

Well Mike that is another issue because I have children from my first marriage and grandchildren there it wouldn't be right for Frank because they're not his, although we've been married 30 odd years and he in theory is their grandfather, we've still the 2 youngest kids which are his to consider, they are in their 20's. Its a mine field so to simplify it all the oldest are settled the youngest are still to get their own homes so we've left it to them.

I am hoping to have spent any cash I have lol
and like you stan I dont care after that,cos they dont !!