Will Bruce Forsyth still be as beloved, now that the public knows he did not leave any of his millions of dollars to his children? Or do they recognize a tax strategy that’s well known in the United Kingdom?
The widow of one of England’s legendary entertainers, Bruce Forsyth, has inherited his entire fortune—a whopping $15.4 million. Starts at 60’s recent article, “Millionaire performer Sir Bruce Forsyth leaves kids nothing in will,” says that his children didn’t inherit a single dime of his estate.
According to The Daily Mail report, it was Forsyth’s strategy to avoid estate tax. In the United Kingdom, money that’s passed from a husband to a widow isn’t subject to inheritance tax. However, an inheritance from a parent to a child is taxed.
In addition to the money left for his wife, the entertainer left about $130,000 in a trust fund to split between his nine grandchildren when they turn 21 and roughly $26,000 to the two executors of his estate.
Nothing was left to daughters Debbie, Laura, and Julie, who Forsyth fathered in his first marriage to Penny Calvert. His daughters Louisa and Charlotte from his second marriage to Anthea Redfern also weren’t included in the will. Likewise, his son Jonathan from his third marriage won’t inherit anything.
Forsyth died last year with his six children by his side at age 89. The star had been sick for an extended period of time and had been admitted to hospital earlier in the year with a severe chest infection.
Bruce Forsyth had a record-breaking 78-year career in British film and television. He made his first TV appearance at the age of 11, taking up tap dancing after being inspired by a Fred Astaire film.
Forsyth received a knighthood in 2011. His last appearance on TV was at Christmas 2015, when he sent a festive message to fans.
Social media was flooded with tributes to Forsyth upon his death last year. The London Palladium promised to dim its lights, celebrities shared their memories of working with the entertainer and fans wrote of their experiences they had had with him.
Whether tax strategy or not, Forsyth is now one of many wealthy celebrities who have made the decision not to leave their children with their fortunes. Bill Gates, Simon Cowell, Elton John and Gordon Ramsay are among the bold-face names who have other plans for their millions.
Reference: Starts at 60 (June 19, 2018) “Millionaire performer Sir Bruce Forsyth leaves kids nothing in will”