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

BobProperty

WrenBoy wrote: »

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…

No its:
Give a man a fish and he'll eat for a day.
Teach a man to fish and he'll sit in a boat all day drinking beer.

Rimo2021

Maybe we shouldn't be encouraging our ageing parents to go on exotic holidays....or should we...

http://www.guardian.co.uk/family/story/0,,2063300,00.html

littlesaint

I also agree that inheritance should be a bonus, not a right.

Having said that, in fairness to the OP, at least she is thinking of her children's future. There must be lots of home owners out there rubbing their hands with glee at their luck with property prices who don't think of the generation coming up. It is the same on pensions, climate change and many other issues. Economics journalist, Faisal Islam, calls this phenonomen the great generational robbery: http://www.newstatesman.com/200703050030

Whenever anyone suggests the possibility of a crash, someone else says that with low housing building numbers, current migration levels, divorce rates and the fondness for living alone, house prices will not fall. I've seen elsewhere on this thread people rib others for not buying in 1997 or whatever - often neglecting the fact that some of the people they are talking to may have still been at school or college in 1997.

We owe it to future generations that we bear this issue in mind. Why should your ability to buy be dictated by when you are born? The OP has recognised this issue, but like a previous poster, I think she is barking up the wrong tree.

kronos

Totally unbelievable !!!!!!!!!

Phirefly

littlesaint wrote: »

http://www.newstatesman.com/200703050030

Interesting perspective - I've mixed feelings on it. We (twentysomethings) bear a financial burden unrivalled by our parents' generation true, yet at times when I'm feeling grumpy about my student loan repayments/how cripplingly hard its been to buy our first home/how my tax contributions are being swallowed up/how state pensions are some sort of quaint tale from the past/how our salaries are not rising with inflation, I just think about how my relatives only a few generations back lived in desparate poverty in the slums of Bethnal Green and how proud they would be of how well their blood line has done since then

lush_walrus

[QUOTE=margaretclare;4976928Leave_the_grandparents_alone_to_make_their_own_choices_and_decisions.__I_absolutely_abhor_all_the_talk_of_'inheritance'.__You_don't_get_an_inheritance_until_someone_dies,_and_no_one_has_a_God-given_entitlement_to_an_inheritance.__If_I_thought_that_anyone_expected such a thing of me, as a right, was counting on it, I would make sure anything I left behind went to one of my favourite charities.

Margaret[/QUOTE]


I am sure my attempt at quoting has gone completely wrong, but Margaret I really couldn't agree more. I sadly lost all of my grandparents by the time I was 8 and thank god my parents were not planning as the OP is for hers. Let the children develop as they will independantly, it is absolutely not for the grandparents to concren themselves with in life or death!

My parents a few years back would have loved to have stowed all of their money for my sister and I...Thank god we have persuded them to enjoy the money they have earnt and not worry about our future at all.

So, after a lifetime of working, both of them retired in their early 50s and have joyfully been enjoying their life. If they spend every bean of their money both me and my sister will be more than happy. If they live to 500 and find they don't have enough then we will help them 100%. How absolutely sick I feel at the thought that anyone sits waiting for their IN-LAWS parents to die.

Absolultely disgusting, if I were the grandparents and found out about that little masterplan I would most certainly spend the lot, failing that donate what was left to a cat sanctury or something. But sure as hell if I had the sniff of the OPs little plan, I would make sure that they would get none.

littlesaint

No, I know what you mean (and I work in Bethnal Green). My grandfathers were a gardener and a bus mechanic and I hope they would be proud of me and my sister. I think that generation sacrificed a lot for their children, and many did not own properties.

Incidently, most of the stuff I inherited from my grandparents (all now dead, sadly) were non material. I still treasure them. Though we found out after my grandad (the mechanic) died, that he had put away a small amount of money away for a rainy day and it was shared between the four of us - no arguments. That's the way it should be.

Rimo2021

littlesaint wrote: »

We owe it to future generations that we bear this issue in mind. Why should your ability to buy be dictated by when you are born? The OP has recognised this issue, but like a previous poster, I think she is barking up the wrong tree.

I know what you mean but the fact is there are many arbitrary issues that dramatically influence our lives and wealth - the country we're born in; the parent(s) we're born to; the genes (e.g breast cancer gene) we inherit; values we are indoctrinated with; the way we look; our accent; our skin colour......whether or not we happen to be born at a favourable moment in the house price cycle is just one of these amny factors.

Having said that I am often surprised at property owners failure to recognise the downsides of high prices.

sleepymy

The sheer greed of the OP is quite sickening. Just because you choose to have children doesn't mean you've the right to go grasping after their money. Why the hell should your husbands brother pay for your children's houses?!

Does that mean that my hubby shouldn't get 1/3 of his parents estate because we don't have a child? Perhaps my SIL's will sit at home griping over the fact that I stand to inherit substantially more from my parents?

It's his parents money to do so what they wish, keep your beady eyes off it and have some respect.

just-saving

As the mother of two, and being one of four children myself I would expect my mum to do as she so wishes with HER money. Personally, I hope she blows the whole lot on herself before she dies. She owns her home and if my mum left anything to my three brothers and not me then fine. If she wanted to leave anything to her grandchildren then fine. If she wants to leave anything to Cancer Research or any charity she so desired I would be proud of her for doing that. What matters to me is that she is 64, and very much alive and hopefully will be for many many many more years and I certainly hope she doesnt feel guilt for writing out a will and leaving what she wants to who she wants!
My next door neighbour is 85 and when she lost her husband 5 years ago her son disowned her at his own fathers funeral of all places because he found out that her mortgage was paid off and he would not be taking it over (as he had planned) and inheriting the whole house when she dies. The last she heard from him was 5 years ago. Not even a christmas card or anything since. He has completely cut her off.
In 1988 we were paying over £800 a month to someone who was renting a titchy one bed flat out and we were basically paying his mortgage on his second home. We had no help at all from anyone when we bought our first house nor did we expect any help. It was extremely tough and it was even tougher getting on the property ladder ourselves but everything we have to show for now is our own or it will be once we hopefully finish paying off the mortgage when we are in our 50s.
I know it will be tough for my own two children but its a long way off as they are only 13 and 11 and right now there are much more important things to think about. We have no money of our own at the moment but we will help them out in any way we can when the time comes. We all want our children to have the best start possible..who wouldn't?
I dont know if its the same in every family but on my side and my OH's side there have been rows and squabbles over who has received what in 'loved ones' wills. His grandmother is alive and there are family members already squabbling over her money and she hasn't died yet. She has handed out most of it anyway and everyone is argueing about whos had what. By the way, we have not had anything and we are not upset because others have. We just want her to have some for herself and not be without and right now I think her savings are running out fast but if it is making her happy seeing her family enjoy her money whislt she is still around then good for her!
I am appalled how people behave when it comes to money, heirlooms, knick knacks, whatever. Sure, we all worry for our childrens future but getting funny over whos got what and who should be left what because they deserve it more.....it stinks!