Estate planning and wealth transfer is a recurring theme in IELTS Writing Task 2, appearing frequently in questions about family finances, inheritance, and economic responsibility. Based on analysis of past exam patterns, this topic has appeared in various forms over the last five years and is likely to continue being relevant. Let’s examine a real IELTS task 2 question on this subject.
Some people believe that inheritance should be heavily taxed to create a more equal society, while others argue that people should be free to pass on their wealth to their children without government interference. Discuss both views and give your opinion.
Analysis of the Question
This question requires candidates to:
- Discuss arguments for high inheritance tax
- Examine arguments against inheritance tax
- Present and justify their own position
- Consider societal implications of wealth transfer
The debate over inheritance tax and social equality
Sample Essay 1 (Band 8.5)
The question of whether inheritance should be subject to heavy taxation is a contentious issue that affects both individual families and society as a whole. While proponents argue that inheritance tax promotes social equality, opponents contend that it infringes upon personal freedom and family rights. In my opinion, while some level of inheritance tax is necessary, it should be moderate and well-balanced.
Those who support substantial inheritance taxation argue that it helps create a more egalitarian society. They contend that inherited wealth perpetuates social inequality and prevents true meritocracy from flourishing. For example, in many countries, the wealthy elite maintain their privileged position across generations primarily through inherited assets, which can limit social mobility for others. Furthermore, high inheritance taxes can generate significant revenue for governments to fund public services and social programs.
importance of tax strategies in financial planning
However, opponents of heavy inheritance tax present compelling counterarguments. They maintain that people have the fundamental right to transfer their legally earned wealth to their children without excessive government intervention. Parents often work hard throughout their lives with the specific intention of providing for their children’s future. Additionally, family businesses and farms could face significant challenges if heirs are forced to sell assets to pay high inheritance taxes.
importance of estate planning for families
In my view, a balanced approach is most appropriate. While some inheritance tax is necessary to prevent the extreme concentration of wealth and promote social mobility, the rate should be moderate enough to allow families to preserve their legitimate wealth and continue family enterprises. This could be achieved through progressive tax rates with reasonable thresholds and exemptions for small businesses and family farms.
Sample Essay 2 (Band 6.5)
The topic of inheritance tax is very important in today’s society. Some people think it should be high, but others disagree. I will discuss both sides and give my opinion.
On one side, people think high inheritance tax is good for society. They say it makes things more fair because rich people cannot just give all their money to their children. Also, the government can use this money to help poor people and build things like schools and hospitals.
But other people think inheritance tax is not fair. They say that parents work hard to save money for their children, so the government should not take it away. Also, some families have businesses that they want to give to their children, but high tax makes this difficult.
importance of wealth transfer strategies for families
I think both sides have good points, but inheritance tax should not be too high. Maybe the government can make different rules for different amounts of money. Small amounts should have low tax, but very big amounts can have higher tax. This way, normal families can still help their children, but very rich people pay more.
Key Vocabulary
- inheritance (n) /ɪnˈherɪtəns/ – money or property received from someone after they die
- egalitarian (adj) /ɪˌɡæləˈteriən/ – believing in equality for all people
- meritocracy (n) /ˌmerɪˈtɒkrəsi/ – social system giving opportunities based on ability
- perpetuate (v) /pərˈpetʃueɪt/ – make something continue indefinitely
- intervention (n) /ˌɪntərˈvenʃən/ – the action of becoming involved in something
- threshold (n) /ˈθreʃhoʊld/ – a level or point at which something starts
- progressive (adj) /prəˈɡresɪv/ – happening or developing gradually or in stages
For practice, try writing your own essay on this topic and share it in the comments. Consider also exploring related topics such as wealth inequality, social mobility, or economic fairness in society.
