My kids will only ever own a property if their g/parents leave them massive amount

peter999

DKLS wrote: »

My Ma keeps trying to give me my "inheritance" on a weekly basis, I dont want it, she worked hard for it, I dont expect a penny, If there is anything left when she passes it will be a bonus, not my right. I hope she spends the lot on a great retirement, with some encouragement, she has been trekking to Borneo and Veitnam and is off to Thailand for the 3rd time next month.
It never ceases to amaze how family members can become vultures, when they sniff some cash.

There is a lot that can be done to minimise Inheritance Tax liability.

If your mother can afford it, there's nothing wrong with making Gifts to reduce Inheritance Tax liability or otherwise, as long as it doesn't mess with your mind or judgement.

peter999

Tam_Lin

That's all very well, miss, but you've ignored the major point that many people have picked up on, namely that you have no right trying to do your BIL out of any money his parents might choose to leave to him. It was your greed that has got people's backs up. The housing situation is a red herring.

miss_bargainmad

A woman I work with is in her 40's and is not saving for a pension and never has as she is going to get a share of her mum's house?

Should she be hung, drawn and quartered for thinking like this?

I bet you'd all give her some stick ie. vulture - she should provide for herself!!!

Glad to see I've started a debate - don't drive youselves to heart attacks by getting stress out over an internet post.

inkie

The fact is the grandparents have scrimped and saved all their lives to amass a fortune to have in the bank when they die and the two sons and the grandchildren will get it. No doubts about that as there is no-one else.

Can you be certain of that - what if they have chosen to do something completely different in their will.

I know that the housing market is difficult ( i have kids similar age to you), but tbh, i would think of it as my responsibility to help them out before that of my parents.
As for housing bein unaffordable in your area - you are assuming that they would want to live in that area. Sometime I think that we can get too consumed with all of the the 'what if's....'

mystic_trev

There were times when you'd have been happy for your Grandparents to buy your kids an Action man or a Sindy doll..........now you expect them to be bought a house!

Tam_Lin

miss_bargainmad wrote: »

A woman I work with is in her 40's and is not saving for a pension and never has as she is going to get a share of her mum's house?

Should she be hung, drawn and quartered for thinking like this?

I bet you'd all give her some stick ie. vulture - she should provide for herself!!!

Glad to see I've started a debate - don't drive youselves to heart attacks by getting stress out over an internet post.

What a parent and child agree between themselves is entirely up to them. When a daughter-in-law starts ogling her in-laws' cash, it's an entirely different matter. I'm not surprised you're getting snipey; surely you expected the reaction your proposal has received on here?

Spendless

miss_bargainmad wrote: »

Where I live, even if they had £100K to put down on a property they would probably still struggle if the market continues like it is and would still have to work their socks off to cover the mortgage.

They may not wish to live in the same area as you, the same county, country or continent. They may be the next Richard branson, or marry into the Royal Family. . The house prices may go down. Please stop worrying and enjoy your now time with the children.

miss_bargainmad

Believe me, I would love it if they were to start going on luxury cruises for the rest of their life, as it is really sad the way they live, having so much money, but it's not going to happen.

As for them leaving it to charity (there really is no-one else to leave it to) they really are not the charitable types - I probably give more to charity than they do.

I would rather help my children out in my lifetime than stack it all up in the bank and not have a life.

ftbworried

miss_bargainmad wrote: »

if the market continues like it is and would still have to work their socks off to cover the mortgage.
.

Most people that aren't born with a silver spoon in their mouths have to "work their socks off" to cover their mortgage- that's how the REAL world works. If you don't want your kids to live in the real world- fine, you give them money to live in fantasy-la-la land but why should your BIL pay the price for you spoiling your children?

Bargain_Rzl

miss_bargainmad wrote: »

I was reading yesterday that if it wasn't for parents/grandparents helping out their children with large deposits the housing market would have collapsed.

You say that like it's a good thing If this is the case, then if people didn't help out their children/grandchildren with large deposits, the current housing market would be a lot more accessible and fair for all FTBs, including those without substantial family assistance