Bruce said “He could elect to pass the cockpit (s) down to the children now, if they wanted to keep them, so as long as he lives another seven years, there would be nothing to pay. The same applies to any gift. This is completely legal tax planning. Of course, the children might not want the Lancaster; in which case the estate sells it before it comes to the accounting stage.”

Exactly. In my reply to Cees I alluded to my collecting interests. I also know full well from the actions of other families that few children share their parents’ hobby passions. The problem here is simply do the kids want to keep the cockpit reproduction or not. My experience tells me that the moment dear old dad drops of the perch, their carefully and lovingly developed hobby interest will be disposed of very quickly. If the kids are interested then this chap should give the cockpit to them now while he is still compos or give way to the inevitable and arrange for its donation to a suitable museum when he does what is inevitable for all of us.