Originally Posted by
Roger
Good post and good question. I think its inevitable that at some stage the Government, probably a left leaning Govt, will re-introduce some form of death duties, probably under another name, something like transitional inheritance commission, or some such other more PC. term. As you say many people have their homes in a family trust already and I certainly encourage my clients to do so for a number of compelling commerically prudent reasons including the possibility of a change to the current zero rate of death duties. I agree that many Gen Y's will stand to inherit real estate, (the jury is out with my two kids on whether they deserve it LOL).
I think its a sad and inevitable reality that we will see apartment facilities spring up to replace pensioner flats, probably all of which will have standards and facilities vastly inferior to SUM's retirement units. Poeple living in a cramped, crowded and poorly serviced apartments without any meaningful community facilities clinging on too some illusion of independence aided by the on call facility that a ST John medical alarm provides. What a sad way to "enjoy" one's twilight years.