what do put in will

lincroft1710

rexel wrote: »

what would put in will if you want to give your children equal share but one adult child has little regard for money

If one of my beneficiaries decides to squander their inheritance, that's their decision. When it's gone it's gone. I will have enough problems worrying about the inferno surrounding me, than what is happening back on Earth

DigForVictory

Either stick it in trusts for each or hand them their 50% each. There is no winning here, but if you want peace of mind be evenhandedly awkward.

Frankly, as whatever you do can be rearranged with a deed of variation, make sure both understand your intent (a letter in with the will rarely hurts with that) and then enjoy your estate while you have life & breath & (I hope) health. You've worked for it - you enjoy it!

CathA

Speaking from bitter experience, treat ALL of them the same. We had an "issue"with my mum's will when she died, not going into it now but it's horrible being treated differently. It's all sorted now, everyone is in an equal footing but it's too bl00dy late now, has ruined my memories of my mum, not done much with my relationship with my dad, and don't get me started in my brother!

TBagpuss

As others have said, treat them equally.

If you have bailed out the spendthrift then you could chose to leave them less and make clear that this is because they have had some of their inheritance in advance, but I'd only do this is the sums involve were significant in the contest of the over all value of your estate.

If, as an adult, they they make poor choices about how to spend their inheritance, so be it. At that point, it is their money, and their choice. And they may get more pleasure out of spending it than they would put of being sensible.

If by having little regard for money you mean they are not interested / don't want it, I'd still do the same. They can chose to gift money to their siblings or to charity f they don't want/need it.

krlyr

suki1964 wrote: »

Why leave anything to anyone?

We help the kids out when we can , and we live a life

I'm certainly not stashing it away to pass on in when we die

Even our house will be sold to fund our old age. Hopefully we will have enough put aside to bury us and that's it

Or you may (hopefully not) pop your clogs ahead of your life expectancy and have quite a hefty estate - why not leave it to your family, who you presumably love and wouldn't object to providing for (it's not like you can use it!)

OH and I have (in the event we're both gone at the same time) split ours equally amongst close family members (no plans to have kids), to be honest I don't care what they spend it on, because I'll be dead!

Tygermoth

Our land owner decided to place a chunk of the estates rental houses in a trust so that her son who was notorious with money would always have an income. A good solid monthly stipend of several thousand pounds.

What happened after she died was he fought the will tooth and nail, caused terrible bad feeling and costs hundreds of thousands in legal bills.

He got his way in the end, evicted everyone and sold on the houses for a fast buck.

Primrose

Perhaps one ahould put a clause in one's will in conteoversial circumstances will that any beneficiary who contests it should forfeit any legacy and the money involved should go to charity. I wonder if that has ever happened?.

Keep_pedalling

Keep it simple, split the estate equally. Once left the money belongs to the beneficiaries what they do with it is their concern. Trying to control things from the grave can be probomatic and expensive so don't do it.