Inheritance, what will you do?

SpeedFreak · 2 Sep 2017 at 16:19

In leaving a inheritance do you intend to split your assets equally or will you divide it among your children in another way?

I recently have seen three different approaches. One equal, one weighted through perceived need and one based on male priority.

I am personally of the view that, barring some monumental fallout, our children will receive an equal share of our estate. I find any other approach difficult to understand.

It is a difficult subject to broach with family/parents. My mum made the effort to do this and spoke with us. She initially felt my youngest brother may need more support, but then reflected that we had been given identical opportunities in life. I and my middle brother just made the most of ours. She therefore decided to split things equally.

Just curious to hear what people think is "right".

Rroff · 2 Sep 2017 at 16:22

I don't see why anyone would do anything but equal split unless very specific circumstances.

theone8181 · 2 Sep 2017 at 16:26

Equal altho at 31 its a bit early for me lol.

FL630 · 2 Sep 2017 at 16:27

Equal. Any other way just makes arguments

Dis86 · 2 Sep 2017 at 16:30

Neither of my father's received anything when their dads died.
It was split between the other siblings. A perceived need kind of thing although not necessarily financial.

padcontrol · 2 Sep 2017 at 16:30

I'd always go equal, but to each and their own. No one way is the 'correct' way, just really depends on the current circumstances etc.

Sliver · 2 Sep 2017 at 16:31

Equality seems to be the way to go unless of course one of the potential recipients is a scum bucket.

Ahleckz · 2 Sep 2017 at 16:35

Equal, can't see why it wouldn't be. Perhaps if it was unwise to leave something to one person then I'd leave it in trust to be administered by others - but that would cause all sorts of other issues I imagine.

SpeedFreak said:
one based on male priority.

Really?! Wow. What a backwards family that was.

Hades · 2 Sep 2017 at 16:38

Equal.

SpeedFreak · 2 Sep 2017 at 16:39

Ahleckz said:
Really?! Wow. What a backwards family that was.

Ironically the father wanted things done equally, but died first and left the assets to his wife. She is the one applying the unequal split.

Skidder · 2 Sep 2017 at 16:46

A friends family pass a business down the male line only. This generation sold it and made fortunes. Sisters got nout, the chaps are now extremely wealthy. I find that bizarre. Equal for my kids without doubt.

Physical things based on who had liked them or they suited.

VoG · 2 Sep 2017 at 16:48

Equal, any thing else could lead to bitterness & potential expensive legal complications if any one felt hard done by enough to contest the will.

SpeedFreak · 2 Sep 2017 at 17:30

Skidder said:
A friends family pass a business down the male line only. This generation sold it and made fortunes. Sisters got nout, the chaps are now extremely wealthy. I find that bizarre. Equal for my kids without doubt.

Physical things based on who had liked them or they suited.

Wow, that's pretty grim. If my mum left me more I'd just correct it after she died so that it was equal.

wordy · 2 Sep 2017 at 17:32

I'd give each of them a percentage, based on how much I liked them.

KNiVES · 2 Sep 2017 at 17:37

I've been on the receiving end of this, inherited a lot more than my brother & two sisters, from my uncle who never had any children. I got his house. They got money, but nowhere near the same value.
Took a while for probate and lawyers to sort that one out. They still don't talk to me. I don't care.

phonemonkey · 2 Sep 2017 at 17:37

I'd say equally. Unless one of beneficiaries happens to already be a multi millionaire (and therefore wouldn't notice/miss the money in their daily life) and the other(s) are struggling to make the rent each month, then I might be tempted to go need and leave more (maybe all) to those in need

cheesyboy · 2 Sep 2017 at 17:39

Generally, an even split.

Maybe weighted if one was very wealthy and the other not so much. Particularly if the difference was down to, say, one going into investment banking while the other was a teacher or nurse or something. (I.e. Not poorer due to lack of effort or good will)

dowie · 2 Sep 2017 at 18:10

I think generally equal unless there is a big disparity in wealth/one child is facing hardship etc..

Also sometimes you might want to take into consideration caring arrangements - for example with my Nana my aunt lived with her and looked after her and in return got her house, given that she looked after her every day for over a decade it seemed fair enough. All her other possessions, savings etc.. got split equally. Everyone else had their own homes, it was just that aunt who was single, had been in low paid work till then and agreed to return home to look after Nana.

sbi5ar · 2 Sep 2017 at 19:03

I would say equal split.

One key thing that needs to be remembered that whilst it might seem that your younger brother needs more help - he is younger, so when you were his age, were you in the same position as he is in now. Again, it might turn out that by the time he reaches your age, he has the same financial position as you do now and therefore everyone is the same. This is doing a lot of extrapolating, but just because he might seem worse off he might not actually.

I say this because I am the youngest of my family (at 30) however on appearances I am probably not doing as well as my sisters (they are 7-8 years older). Given another 7-8 years, I would like to think I would be in a similar position to where they are now. Hopefully, that will make sense.

lunar · 2 Sep 2017 at 21:38

According to Islamic law, the boy gets twice the share compared to a girl. E.g. One son and three daughters; the assets are split into 5 parts and the son gets 2 parts and each daughter receives 1 part.