"Many a peer of England brews. . . A. E. HOUSEMAN
Thirteen peers, grave dukes and sad-eyed earls, have brewed and tasted this twelvemonth an idea snugly within the law.
The Idea: a limited company (corporation) is a "fictitious person" who can never die. Therefore, on turning one's estate into a limited company, it passes beyond the reach of the death duties (inheritance tax).
Not until the great Dukes of Marlborough and Portland incorporated their estates recently, did the peerage consider this practice purged of all ignoble taint. Since then estate incorporations have become...