it's a tough call... From recent experience, my uncle (by marriage) recently passed; He - for reasons I wont explain here - split and moved away from his only remaining family at 13, had no contact since, could never have children of their own, and was very much an active part in our family as close as any blood relative can be. All nieces and nephews were treated as their own and he and his wife were the kind of people to give you their last penny without a thought for themselves. anyway, My both my aunt and uncle have passed, and never had their will validated (for want of a better word) in fact, when he died, his bank statements, all financial documents, and (albeit worthless) will was left arranged on the coffee table ... spooky I know... My point is... they were by no means well-off, but, their will was their for anyone to see, it was signed, but... still not valid. His accounts have been frozen, with whatever remains going to his sister who he hasn't seen or been in contact with in countless years. His only blood family he had - his brother suffered a major stroke a week before he died, and is incapacitated, and unresponsive. Now it is obvious for anyone to see that any money however little, should go to his brothers care, and not to someone who cant be bothered to send a Christmas card or say hi in over 50 years... [the insult is now the estranged sister has power of attorney over the brother and gets to decide his future care arrangements] The system is there to "protect" those without a will, but in this instance their wishes WERE clear and on paper, it just wasn't worth the paper it was written on. /end of depressing rant...
Won't inherit anything if something isn't done in the next 3 days (3 days, £9000 bill, 3 houses at stake)... **** me.
I know nothing of your personal situation and it isn't more me to comment... but I am going to anyway. If you have three house then why don't you get rid of one (I know this is a bad time to but it may be the best form of damage limitation). That way you get to keep two, have less expenditure (less mortgages, upkeep etc) so you will be able to enjoy the two you have more. I am sure any creditors would listen to you if you had a decent plan. I am sorry if I have completed mis-read the situation.
I suppose anything left behind when my parents die will be split between myself and four younger sisters, probably equally... what my parents hope is that we all grow up to be affluent and upstanding members of society who don't give much importance to whatever estate they possess... Providing all goes to plan and I become a doctor, I won't need the money and it will all go into an orphanage or something... I know one particular lad whose grandmother just died, leaving him in excess of £100K. This was last week and already he has spent £5K on a new Rolex Yacht-Master (the gaudiest of the lot) and a brand new Mini Cooper S for £19,500!!! With that money he could have paid his way through uni, or bought a house, or at least bought something faster than a Mini! a used but new C-Class, or an old M3 ... he could have got an X5, a Range Rover a fairly new TT, something Japanese faster than a Ferrari! Why do the idiots get all the money?
I know that on my dad's side of the family most of the inheritance money goes to a charity that helped my grandfather and the library we are helping fund in his name. On my mom's side, because they aren't the most affluent, leave the property to be equally split and taken care of. Thankfully there is no fighting in the family so we don't have to worry about much.
im in a slightly more complex situation my mother and father got divorced when my two brothers and i were young my mother got remarried a few years later and had 2 kids with him. when we discussed inheritance my new father (whom i consider dad) said that he was happyto split the inheritance equally provided the inheritance from my first father would also be split equally ( not that he is aware of this)
Ditto. Aside from a few personal things, I hope my parents blow it all. I certainly have no plans to leave anything to anyone when I, or the wife go.
I don't know whether I'm going to get anything from my parents, though I am the only child (That I know of, my dad and I don't communicate too well, and I don't trust my mothers verison of events). Personally, I don't know how I'd deal with what I leave. I don't know whether I'm going to have kids (I can't stand them for the most part, but everyone wants a child at some point in their life). I guess I'll see how it goes. If I only have one, then problem solved, eh? Hypothetically, were I a parent with two or more children, I'd favour the one who'd actually demonstrated they were capable of not being a lazy **** expecting to be provided everything by their parents. My logic being; The one who worked hard/worked well/demonstated competance is the one least likely to blow it all on useless crap, and actually make a decent choice with what to do with what they were left. Of course, that's not to say that I'd not leave anything to the other kid, but I would be more comfortable giving things of high value, or money, to someone with a brain in second or third gear, than someone barely in first. Of course, I'll probably not have a kid, knowing my luck with women
The thing that strikes me whilst reading this thread is just how lucky I am. I am 23, my parents are both still married to each other, all 4 of my grandparents are still alive, and no one in our family is prone to magpie moments (ooh, shiny). All of my siblings are likely to get a fairly equal share (no idea about charity commitments etc.) and everything seems so....normal really.
Money wise, besides life insurance stuff me and my only sibling, my sister, will get basically nothing as my family is broke. Not sure if its been done yet but me (18) and my sister (20) will be the executors and will decide together how to split everything. It's already been decided I get my dad's old car and all the garage stuffs that I want. I guess all other physical objects for the most part would go to my sister unless we decide otherwise. For the house I would assume we would sell it or something and split the money. Would all the money we get be split evenly? Not necessarily. If I have plenty of money and my sister is struggling, then most would go to her, or vice versa. Luckily me and my sister CAN get along well so I dont expect there to ever be a problem with anything. We will be in control and no one else will have a say in it even though I wouldnt be surprised if my dads family trys to get something. Don't know why they would but I dunno. Just wouldnt surprise me. Now when my grandma die I have no clue what will happen. I think it is most likely being split between all the grandchildren but she has like no money anyways and no property as she lives with our family.
When mum we did her will last year, she specified that it was a 50/50 split between me and my sis. The house is to be sold. But the money goes into a trust fund each, until our 25 birthdays. I just turnt 20 and my lil sis is 8 in couple of weeks. Thats mainly because her dads selfish, and absoluty crap with money (6 months after they split, he had 15k worth of credit card debt). As for my nan, she has very little left after the spending habbits of the man she married after my granddad died. And ive never met my father so i highly doubt ill be inheriting anything from him. (Thou legally I can contest the will when he does die). But tbh i dont really want heaps of money, if it results in a guy like him.
Surely it's up to the parents where their money goes, they've usually worked hard all their lives and put the effort into raising their children. What they do with THEIR estate is entirely their business, if they decide to leave more to one party then they will usually have good reasons for doing so. Get over it!!
