Children paying for their inheritance

NAR

KellyWelly wrote: »

Sounds a bit like the parents want to have their cake and eat it - stay in their nice house but get the money out of it to spend as well.

Who owns the £200k home? Maybe parents will leave it to the cat's home if kids don't like the deal!! :rotfl:

belfastgirl23

I would want them to spend the inheritance and have a good time doing so!

maggie111

Urgh, I would hate the ultimatum - you do it or you're getting nothing.

As far as I'm concerned my parents have worked hard all their lives and are entitled to spend their gains however they please. In fact I spent 2 years convincing my Dad to live a little. I would feel awful knowing they'd lived 20 years in near poverty so I could get a lump sum. I'll be sad when they die and nothing will change that.

The idea of paying them a £100 a month so they could indulge does not sit well though. To put it the other way - would you ask your parents for a hundred pounds a month so you could enjoy yourselves and they can take it out of your inheritance?? All families struggle one way or another, keeping their balances in cheque. I can see a few family rifts if you see your parents nipping off for a cruise and you've had to reduce your shopping budget to pay for it.

I would rather they released the equity in the home another way... Yes there will be a cost to it but I reckon there would be less arguments and that might be worth it.

Right, I'm off to go and ask my parents for £100 a month....

NAR

Think a lot of teenagers get £100 a month from their parents nowadays. :rolleyes:

whitfreak

Bah, its asking for trouble. And you have issues with one parent dying and the other remarrying. Or care home fees, or whatever. Or if child loses thier job so can't keep up the payments...

My parents are re-doing thier will at the moment and they keep joking about leaving it all to the cats home. And I keep telling them if thats what they want to do then they should do it. Likewise, I tell them to enjoy thier money/retirement and not worry about leaving an inheritance. I'd prefer it if they didnt bankrupt themselves, but if a reason for not doing something fun is "it will effect the kids inheritance" then its a bad reason.

Had the issue been we dont have enough money to live and dont want to move, then the support would be an different issue.

mouche

Maybe it's because I've been brought up in a different culture, but why does it have to be if-you-give-me-this-I'll-give-you-that. It's a family not a moneylending business! My OH and I give his family money every month (my family doesn't need it) - simply because they are family and we love them and want them to be comfortable.

They don't ask for the money - we give it. They know we may not be able to give them as much as we do now so they use it for luxuries and it makes us happy to be able to give them that. OH probably will get half their flat in inheritance but he may not - it doesn't make any difference to giving them money now. They looked after him when he was young and they could afford it, now it's his turn.

In the OP's hypothetical situation, I would say the parents could tell the kids that they would really love to go on a cruise/ holiday etc. and the kids would voluntarily contribute as much as they could towards it because they want the parents to finally have some fun. The inheritance wouldn't come into it - only family feeling.