Can my brother denounce inheritance so we don't have to pay debt...?

kelloggs36

If my mum leaves me anything in her will I will be using it to pay off debts such as mortgage, so I fail to see how brother paying off different debts is wrong - it is a very sensible decision actually; he could choose to squander the lot and still remain in debt - would you prefer that?

margaretclare

lombrozo wrote: »

My dad was a carpenter and literally ran whilst he worked to provide more for his family. I work in an office typing at a keyboard all day, my older brother doesn't work at all (lives off the state), so in comparison I'd say 'hard-graft' is the correct term.

I'm still not sure what the point of this is. I've worked in offices and I've also worked in hospitals, some of the time on my feet for 12 hours at a time. Is that hard graft, or not? DH used to walk miles round factories and he now has difficulty walking to the end of the road. You could say we 'live off the state' - retirement pensions etc.

There must be some reason why your older bro 'lives off the state' - is he long-term sick, disabled, something like that? When he gets his inheritance he won't be living off the state any longer, you can be sure of that. Good. Why should he continue to 'live off the state' if he has a windfall coming to him? Is it just that you'd prefer to have more of it than your bro, in which case, presumably, he'd go on living off the state while you enjoy his share as well as your own? I'm sorry, I don't really understand your mindset.

poppy_f1

when my dad died my mum gave me some of the life insurance money to clear my CC - its what my dad would have wanted, me to be less in debt

Person_one

Nothing from the OP in a while...maybe he and younger brother have gone back to the drawing board on their 'scheme'!

springclean

Hmm, OP was quick to respond until some people started blowing some smoke away. Have they got it wrong OP and you're simply just an opinionated moral crusader..?

pollypenny

An astonishing thread! OP either wants the brother's share or wants to help him evade his creditors, as well as continuing to claim benefits.

OP, it's people like us, who pay their taxes, from moderate incomes or pensions,. who are supporting your brother. With his legacy, he can make a fresh start with no debts and a little nest egg as a safety valve.

seven-day-weekend

kelloggs36 wrote: »

He could pay off the debts, so he hasn't really benefitted by getting anything new, just getting square again. Then what is left it is up to him how he spends it - you spend yours as you wish and let him spend his. Leave him alone - if he goes wrong again then he will have to face the consequences as there won't be any more money to come to bail him out again will there?

Hey? I am on the brotehr's side! I'm not the OP, I only said about drip-feeding because that's what the OP suggested! I agree the brother should have his inheritance to use how he wishes (which hopefully will include paying off his debt).

kelloggs36

I wasn't having a dig at you - you were just the last one to mention the drip feed, that was all!!! Chill out!

princeofpounds

I know I'm arriving late to this thread, but the whole premise of it seems totally illogical. Debt is simply a mechanism for preponing (the opposite of postponing) consumption. It allows you to access capital when you don't have very much, in the anticipation that you will pay it out of future cashflows. The cost for providing that service is the interest.

So the older brother in effect has already spent his inheritance as he wished in advance of actually receiving it, and he will (or at least should) be paying that debt off - it's not like he gets the opportunity to spend the money twice! If he had been restricted from taking debt, then he would have to wait longer to get the money but could still spend it on exactly the same stuff.

Frankly, if the OP has ever had a mortgage or ever intends to use one then they are somewhat hypocritical about the use of debt, and if your parents want to give it to him what business is it of yours what he spends it on and through what consumption-shifting method, whether it be debt or savings?