Inheritance what would you do?

Hagar_uk

Me and family member are getting some inheritance. I am sorted, but family member I think is being daft and we both think each others view on what she does with it are crazy. 

She is separated from her husband who was on a good age and they lived in expensive area of South East and a son who they do 50/50 with. Her Husband made her signs contract that that means she has to live within a mile of school. Rental is a nightmare and she had to pay upfront for a year a flat she never got to visit at a cost of 25k. Her take home pay is about 21k

My thoughts she uses the money and mortuageand try and get anything in budget which will be hard but doable maybe goiing out a bit more. 

My sisters idea is she does not want to live in a worse part of town and will use money for renting. I suspect money will only last 4 to 7 years..

My sister is somewhat entitled she hates her current flat as too small and horrible. I thought it was amazing and is a half million fllat. She scoffs at lidea of iving iin my kind of house or area. 

My other half's idea was she moves out of expensive town buys a house she can afford and suits her wishes and sort child access through courts.. Think this is tad risky

ouraggie

Isn’t it up to her what she does? Surely its her inheritance to do what she wants with? Or have I misunderstood somewhere?

Ms_Chocaholic

The title of your post is "what would you do", nothing, she can do with her inheritance what she wishes, as can you.

I'm unsure that the contract that her husband made her sign is legally valid.

LinLui

As above... if isn't up to anyone else to tell her what to do with her money. But no way can that contract be legally valid (unless he is paying for the cost of living there).

Hagar_uk

Thanks for feedback, not looking to tell her, just let her know her options. She is very short term thinking. I am the opposite (probably to the other extreme so was curious if there were other alternatives.

I know it's her money to do with, but this scares me, she has suffered serious depression for all of her life in 5 years time once money has run out and her rent is likely to be more than she earns, she will face homelessness losing her custody with her child. And she will be in a bad place and look to me to sort it somehow.

Reference the contract with her husband he is giving some money for now, but no where near the rent money, she had to use her savings to front that.

He did use lawyers to draft it, my sister who thought it was only a temporary thing and they would get back together after a year blindly agreed. I offered to pay for a lawyer to discuss it with her.but was not interested.

RAS

It's should entirely you sister's decision what to do.

However, it sounds to me that the first thing she needs to do with her inheritance is get some sound legal advice from a good family law solicitor.

It is possible that her ex is entitled to claim a portion of her inheritance. And she needs advice on the validity of that contract. It's not usual for financial settlements to be agreed by the courts until after divorce so the starting points are whether the existing arrangements are liable for renegotiation.

elsien

Her money, her choice.
And in her position I be challenging an extremely dodgy contract -Just because something is drawn up by a lawyer doesn’t mean she has sign it or that is in her best interest. It’s drawn up by his solicitor to represent his interests.

The husband will have to pay child maintenance anyway.

There is no obligation to pay more than that. However, if it’s clear, they’re not going to get back together then either of them has the option to start divorce proceedings in which case all of his assets and hers would need to be considered as part of the settlement process. 

Again, her choice, but she would be stupid not to sort this out sooner rather than later. 

MEM62

Ms_Chocaholic said:

I'm unsure that the contract that her husband made her sign is legally valid.

If he is insistent on that then he should be financing it in my opinion.  That aside and albeit that she may not be the best decision maker based on the fact that she signed such an agreement, as an adult she can do whatever she likes with her inheritance.