Real life MMD: Are my parents dividing the will fairly?

scrabbly

As previosly mentioned - although on the face of it dad divided between 4 and mum between 2 seems fair there are so many "what if's " in this arrangement I would recommend a solicitor. I recently made my will (a fairly simple one I thought ! ) but the solicitor came up with so much I hadn't thought about. I was so pleased I went to an expert. There are so may scenarios you don't even consider on your own.
A few hundred pounds seems cheap to get real advice and avoids any unpleaseantness later when you are all upset and not at your most realistic

littlerat

moonjooce wrote: »

technically it's nobody's business but theirs. However, I assume if one of them dies then their assets pass to the partner (so your dad's would go to your mum if he passed away first and vice versa) unless they have changed this in the will but that's the normal way people do it. In which case if your dad was to pass away first, then his share would go to your mum, and when she passes it would go to you and your sister - the 2 children from the previous marriage could get nothing. You can get it written in that if your dad was to go first then your mum would have to give the percentage he wanted to his first two children when she died. It should work out the same as if they were to die at the same time. Solicitors can advise ways to make sure of this. Me and my other half don't have children but have different percentages to our respective families and have this kind of thing written in so if one of us dies before the other it won't mean the other family gets nothing. I would make your parents aware of this as our solicitor didn't (we found out about it and asked them to write it in) and then keep out of it and leave the decision to them. If you get involved it will only cause possible bitterness. It's up to your parents to decide, and then when the time comes if people are bitter, but you have kept out of the decision and haven't persuaded them in any way etc you should not end up falling out.

Hmm, surely it'd be simplier to have both wills as to "all money goes to partner if i die 1st, otherwise 15% to x, 37% to y" etc?

Otherwise if the money is all tied up in a house the surviving partner will either have to mortgage (if they can get one) or sell up.

CFC

It's hardly a moral dilemma - you have no control or choice in it.

jenblackrod

Its their will not yours. If they left it all to you and none to your siblings, its up to them.

piggielady

The parents should make a will with the help of a solictor who will be able to give sound advice and can often see possible scenarios which the will makers haven't thought of and ensure that the parent's wishes are followed. Fairness doesn't come into it; it is the parents' money and their decision.

Respect your parents' wishes and encourage them, if they haven't already, to seek proper legal advice.

ceejayblue

When my mum died in 2010 she left my sister 60% and me 40% and my two estranged brothers got nothing.

I had actually suggested to mum that my sister should get more than me as we own our own house and have savings and my sister lives in a council house and is always scrimping for money. However, I did think it would be a split of say 45-55 but I was happy with what I got. Although I have to say I have been sad to see that has now spent so much of the inheritance (we're talking £100,000) that she is scrimping for cash again. She has paid off debts (but now she has some more!), saved around £30K in NSI Bonds andshe did have a holiday to South Africa to see her son and bought a new car but they have absolutely nothing else to show for it apart from that.

Mum wrote my brothers our of the will because they cut her out of their lives over trivial arguments and they said they wanted nothing from her.

I would leave your parents to sort this out themselves, they should get legal advice and I do think that its right that your step father gives his children more than you from his will but your mother doesn't need to leave his children anything

Our wills are made out to leave a small sum to each of the children and grandchildren from whoever dies first and then when the other one dies the will provides for the grandchildren (including a step grandchild) and splits the rest 50-50 between my son and my daughter.

Njal

If the parent's have a joint will specifying how their estate is to be split between step-siblings.
What happens if, for example, the father dies first and the mother just chooses to give lots of money to her children, without anyone knowing.
When she dies the estate will be split as specified in the will, but she could have voluntarily given it away before then.

kurilchik

I agree with NJAL :T The second time around is a minefield :mad: I cancelled an engagement 15 years ago because I saw her having a laugh later. We had back-to-back Wills drawn up by a Solicitor where a surviving spouse would have the house as long as he/she retained ownership and lived there and did not re-marry or cohabit and my three children or her two (plus a limpet Mother) would receive 50% of any other assets (plus 50% of the house equity at a later date probably). If we both died together, all assets would be split six ways. We did not plan our own children so it was relatively straightforward, but still offering potential loopholes. I suggest each case must be carefully considered on its merits, including how much each partner has contributed to the marriage (for this thread, we don't know if his first wife got the house or the lion's share do we?) :cool:

janiebquick

First of all, how your parents split their assets is up to them and not you or your half siblings. However, I assume your half siblings have their own mother who may provide for them in her will. Also, your parents won't die at the same time - even if they die simultaneously in a plane crash, the elder of the two is deemed to die first.

seven-day-weekend

Keep well oput of it.

Although I personally think it is fair. Your father has four children, your mother only two. So, he should provide for four and her for two. Job done!

However , I think your faher should arrange it so that if he dies first the children of his first marriage are provided for.