Daniel Craig caused a bit of a stir late last month when he called inheritance “quite distasteful”. Speaking to Candis magazine, he announced that he does not want to leave great sums to the next generation, and his philosophy is to get rid of it or give it away before he goes.
This isn’t saying much from someone who has an estimated net worth of £116m. A small proportion of his fortune would be far beyond the dreams of most, so I don’t think 007’s offspring have much to worry about. Presumably he’s applying “distasteful” in the context of the super-rich, not the swathes of the population making significant sacrifices to help struggling children onto the property ladder.
Taste aside, inheritance is a reckoning that lots of people face, and it is not a conversation that will come naturally to many. We are entering a period coined “the great wealth transfer” as the money of the boomer generation starts to cascade. According to a report published by wealth manager Brooks Macdonald earlier this year, around £327bn will be transferred to roughly 300,000 inheritors in the UK over the next 10 years.