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

home_alone

Everytime this subject is talked about on this website it gets the same response, to me its easy how much do you love your kids or do you love gordon brown more and how well off are you, IHT is something most of us want to avoid paying, the thought of my hard earned money going to support some goverment scheme just chills me. To those that think that your kids will not thank you in the end live in a dream world. On the otherhand if you dont like your kids and have hard but warped sense of loyalty to the country pay IHT and die with a smile on your face. In the end we all have different opinions and views (boring world if we were all the same) do what you have to do.

gary

miss_bargainmad

I really don't understand whey they're holding onto it all - probably because neither of their sons need the money.

They know all about Inheritance Tax as a distant relative of theirs had £1 million worth of property when she died and no will!!! She had no children and all her brothers and sisters who she'd not spoken to for years had the lot.

Other people who had visited and looked after her over the years got nothing (her husband's nieces). She obviously loved the government a lot more than them.

Spendless

miss_bargainmad wrote: »

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

and if that's what you wish to do you can do it. *IF* you inherit £200K you can give them half each and in some areas you can still buy houses for £100K or you can buy them a £200K house and tell them they both have to live there or you can sell your house and rent, give them all the proceeds from your house plus the £200K divided between them.

What isn't fair is you wanting your share of your in-laws estate and the remainder to go to your children.

WrenBoy

How does that old saying go?
Give a man a fishing rod and he eats today…
Teach him how to fish and he eats every day…

seven-day-weekend

Whether the grandparents or the parents help the children out with a house is immaterial. It's expecting the brother-in-law to take less so that it can happen that's the problem.

Why should he?

If he had six children, would the OP expect hers to take correspondingly less so that his could have 100 grand each?

No, I thought not.

cpu

miss_bargainmad wrote: »

(Do some people spend their whole lives on this site?)

:wave: I've replied more than once to this thread, I wonder if you mean me?

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.

That's great. :beer: I hope you have nothing to do with it.

I started off giving you the benefit of the doubt and I thought you were just a bit misguided. I don't now. I think you are an out and out money grabber. Your willingness to gloss over any points that have been raised against you proves that. Helping your children isn't what people are saying is wrong, it's the fact that you want to help them with money that should be partially for your BIL.

Repeating facts about the housing market is doing nothing to support your case for doing your BIL out of some of HIS share of his inheritance. Be thankful for whatever share your OH and kids will eventually get.

miss_bargainmad

There's nothing I'd like better than a house price crash but then I'll probably get a lot of stick from people who have recently bought their first property as they'll be landed in the *****.

sarah_elton

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?

If her mum has said she's going to get that share, then no. Her mum has made the choice, that's the point. She's not saying "my mum should give me more than my siblings because I have no pension". That's the difference to your point of view.

Having said that, I don't think she's being particularly sensible. If her mum needs long term care in her old age the house will have to be sold to pay for it. House prices aren't guaranteed - she has no idea what her inheritance will be worth. Her mum could choose to sell up and spend her remaining years travelling. Relying on money from someone else like that is a risky move.

Tam_Lin

miss_bargainmad wrote: »

I really don't understand whey they're holding onto it all

Why is that any of your business, apart from delaying you getting your claws into it at your BIL's expense? Perhaps they're holding onto it because they realise what a grabber one of their sons has married.

sarah_elton

miss_bargainmad wrote: »

There's nothing I'd like better than a house price crash but then I'll probably get a lot of stick from people who have recently bought their first property as they'll be landed in the *****.

Oh, and I bought my first place a year ago so I'd be one of those in trouble if there is a crash.

I have no problem at all with people betting on the market by selling to rent, or waiting to buy. Everyone has a view on where the market's going. That's fine. What I do have a problem with is anyone who's going to watch the crash, and point and laugh at those in my position. If the market went up, I wouldn't be cruel to anyone who had stayed off the ladder. And I expect the same in return. I haven't bought to make money, I know it's a peak in the market, but I wanted my own home and could afford it. But a serious crash would put me in negative equity which would be a horrendous situation to be in and one I want to avoid. I'd hate to think anyone would take pleasure in it.

That comment wasn't pointed at you, my impression is you wish houses were more affordable because you worry about your kids' future.