Spare the child and blow the inheritance

Leaving all your money to your grandchildren can be more trouble than it's worth.

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Your starter for ten: who would want this 50-room stately home?
(Image credit: Copyright (c) 2015 Rex Features. No use without permission.)

For most people, inheriting a large 50-room stately home with 350 acres of grounds from a great-aunt would be a cause for celebration. However, Bamber Gascoigne quickly found the demands of the mansion, built in the 1400s, "absolutely impossible", he told Audrey Ward in The Sunday Times. For one thing, "there were a host of defects" that required millions of pounds to address. At the same time, it proved impossible to live in the "unbelievably cold" building. Gascoigne therefore took the sensible decision to transfer ownership to a charitable trust, while auctioning off the contents, which raised £5m in funds.

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