It's time to start digging up those Squirrelled Nuts!!!!

MallyGirl

Sea_Shell said:

I can definitely relate to the feeling of being "punished for being prudent", even when they don't know quite how prudent!! 😉

Families eh!! ☹️

Yep. My Dad recently told me that his will leaves 10% each to me and my brother with the 4 kids from his second marriage getting 20% each. Reason being that 2 of them are always going to be 'poor as church mice' due to their life choices and it not being fair to give some of them more compared to the others. 

Hey ho!

westv

As per another thread here I posted to, my PPF pension nuts have increased £2k a year

enthusiasticsaver

Inheritance can be a massive source of conflict and I agree with @Sea_Shell that people should sort out their own finances and plan for retirement and any inheritance should be a bonus.  I think DH and I have been lucky with family compared to many others as in my mum has always treated me, my brother and sister the same and anything we are likely to get at the end of the day will just be a three way split.  I have told her she needs to look after herself first though but as she gets older she spends virtually nothing and she has a very high pension from my Dad who died over 30 years ago. Who knows what she may need if she becomes incapacitated though. 

Thankfully my sister and brother listened to me when I told them they should not count on an inheritance to fund their retirement as they are not in control.  We have told our daughters the same in that we helped them through uni and on to the property ladder but any funds we have now will fund our care in later life and they get what is left. They are totally ok with that. 

cfw1994

Inheritance…..I guess you can chose your friends, but can’t chose your family 🤷‍♂️

We have been very lucky: both the youngest of 3, all get along fine.  

I dealt with my mums ‘estate’ back in ‘94 (dad passed a few years earlier).  No dramas, no massive inheritance but all amicable with my siblings.  

Now dealing with partners parents estate after the last passed away: again, all amicable and equal.
We try to keep our offspring well appraised of financial things….obviously nobody can see into the future, but I think they will be well equipped to deal with things when the time comes.

That said, I do know families who are not in that lucky position.  

As someone said, old people sometimes use their money as a lever, and use it rather badly.  Sorry for those involved in those twisted sagas 😏

Sea_Shell

cfw1994 said:

Inheritance…..I guess you can chose your friends, but can’t chose your family 🤷‍♂️

We have been very lucky: both the youngest of 3, all get along fine.  

I dealt with my mums ‘estate’ back in ‘94 (dad passed a few years earlier).  No dramas, no massive inheritance but all amicable with my siblings.  

Now dealing with partners parents estate after the last passed away: again, all amicable and equal.
We try to keep our offspring well appraised of financial things….obviously nobody can see into the future, but I think they will be well equipped to deal with things when the time comes.

That said, I do know families who are not in that lucky position.  

As someone said, old people sometimes use their money as a lever, and use it rather badly.  Sorry for those involved in those twisted sagas 😏

It's harder to want to keep family in the loop as it were, when they are not your children.   There is a balance between "none of your business" and "what you need to know".    

Currently we leave everything to each other, in the first instance, and then mirror wills leaving all split between our two sisters, on second or simultaneous death, who are also executor to each side (after ourselves).   However, we realise that this is open to being changed by the surviving spouse.   

Once all our Niblings are all over 18, then we will probably re-write them to bypass the sisters.

Will any of them be savvy enough to sort it all out...heaven only knows!!!!   But they can always instruct solicitors themselves.  

We'll probably start to gift chunks in due course, once our guaranteed pensions start to come on stream.    IHT is likely to be an issue for our joint estate (under current rules).

We'll also reassess what (if any) inheritances we get from each side of our family, as it doesn't seem right that (for example), by family benefit from that from DH's side, as it's likely to be very one sided in that respect.    Or we may just do DOVs and gift them that straight off the bat.   


I find that the threads on how things can go bad, open your eyes to what can happen, along with gaining insights in to what to do and not do.  

cfw1994

Very true.
& much more enjoyable, I feel, if you get to the stage that you can start helping those younger ones in your extended family along their pathway….you can encourage them to make the most of the financial help you can give, and see the value to them.   

Sea_Shell

cfw1994 said:

Very true.
& much more enjoyable, I feel, if you get to the stage that you can start helping those younger ones in your extended family along their pathway….you can encourage them to make the most of the financial help you can give, and see the value to them.   

But also, you never know what path they (or we) may take, and whether you'll have a close relationship in the future.

I was never close enough (emotionally or geographically) to my aunts and uncles to have ever received anything much other than a selection box at Christmas and birthday cards.

We won't use money as a "lever", but if they never visit or pick up the phone ...😝😉

Sea_Shell

Sea_Shell said:

Update on the YBS issue...

I haven't received any correspondence from them as yet, BUT, it does appear that the mention of "no further withdrawals" has been removed.   So that's good.   But will be interesting if they offer anything else as a good will gesture!   

I have just received a letter confirming that the "withdrawal" has been removed, my complaint has been upheld and enclosing a cheque for £50.

Result.

Sea_Shell

Our investments seem to be going great guns at the moment.

Our ISAs are a soupçon away from their all time high unit prices, and my 2 pension funds are breaking new ground too.

Who knows how long this run will last?

Pat38493

Sea_Shell said:

Our investments seem to be going great guns at the moment.

Our ISAs are a soupçon away from their all time high unit prices, and my 2 pension funds are breaking new ground too.

Who knows how long this run will last?

According to the various finanical headlines on an app I glance at every so often, it will last for the whole of this year.  Or until Monday.