Why did Sir Bruce Forsyth cut his six children out of his Will?
Late television entertainer Sir Bruce Forsyth cut his six children out of his Will, yet passed a hefty £11.5 million portion of his estate to his wife, Wilnelia, it has emerged in recent days.
The popular star died in August 2017 at 89-years-old, having amassed a substantial fortune over the course of his long career in entertainment.
But earlier this week, the Strictly Come Dancing presenter’s probate records were leaked to the press, indicating that he took an unexpected approach to drafting his Will.
Sir Bruce’s six children – Debbie, Julie, Jonathan, Charlotte, Louisa and Laura – were ‘disinherited’ entirely, while wife Wilnelia received the bulk of the star’s estate, £100,000 was left in a trust to be shared by his grandchildren and £40,000 was passed on to the executors of his Will.
Reports across the media suggest that Forsyth made these important decisions in order to ‘cut’ his IHT bill.
Shortly before his death, the star told an interview: “I think your inheritance should go to your children more than back to the country that you’ve lived in. I’m not saying you don’t owe the country something, of course, you owe your country a lot for living there all those years. But I think it [IHT] can be a bit over the top.”
If the late entertainer did not take this approach to drafting his Will, his estate would have been liable to pay thousands of pounds worth of IHT, commentators have warned.
This is because the UK’s existing IHT threshold or ‘nil rate band’ of £325,000 sees any estates worth more than this taxed at a rate of 40 per cent unless passed down to a spouse or a charity.