Legal News | 16.09.21
No Time To Die for Daniel Craig… but when he does, his fortune isn’t going to his children
Daniel Craig’s long awaited Bond instalment is, at last, going to be released (30 September for your diary if you are a Bond fan). But Craig has been grabbing a number of headlines recently for something far more divisive than his latest film (in our view, at least!). He reportedly does not wish to leave his fortune to his children; he believes leaving heirs large amounts of money is “distasteful” and his philosophy is “get rid of it or give it away before you go”, according to the Times.
Craig is not the first person in the spotlight to voice such opinions. Mark Zuckerberg and his wife plan to give away 99% of their Facebook shares over the course of their lifetimes, and Bill Gates plans to leave a “miniscule portion” of his fortune to his children. Elton John, Sting and Simon Cowell reportedly have similar mind-sets.
We say Craig’s comments are divisive because individuals tend to have a strong opinion on the subject (like many do when it comes to their favourite James Bond). Those favouring Craig’s view might believe inheritance is not in the spirit of balancing the financial playing field. Whilst those with the opposing view might see inheritance as rightfully belonging to heirs; being essential for younger generations (many of whom are struggling to get on the property ladder); and being fair to those in wealthy families, accustomed to a certain standard of living.
Whatever your view, Wansbroughs can help you pass your estate to children, charities or whomever else you might choose, so please do contact us at wealth@wansbroughs.com or get in touch with your usual contact for further advice.
It might be that you would like assistance with estate planning and gifting (if you, too, wish to “give it away before you go”) or you may need to prepare a valid Will; a simple note saying “the name is Craig, Daniel Craig, and please don’t give anything to my kids” would not be sufficient…
