Money Moral Dilemma: Should we leave more to our younger children in our wills?

MSE_Kelvin

This week's MoneySaver who wants advice asks...

We've always treated our children equally. The older ones, now in their late 40s, were fortunate enough to go to university with generous grants and their fees paid for them, so they graduated with no debt and have now almost cleared their mortgages. It's much tougher for our younger ones - for example, the youngest is 31, has student debt of over £50,000 and rents a shared flat. Should we give the younger ones a bigger share of our estate in our wills as, due to circumstances beyond their control, they have greater need?

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El_Torro

I think this very much comes down to personal preference. I don't have any kids myself but think it makes sense to leave an equal amount to each, regardless of their individual circumstances. 

I think more context would be needed to give a more informed opinion too. For example the older kids might have kids themselves who would benefit from inheritance.

FlorayG

It's your money, do what you WANT with it, not what you feel morally obliged to do.
If you don't show the children your will then it won't be your problem once you die if they don't like it

MattMattMattUK

Treat them equally in the wills, do not show favouritism.

Stubod

+ another for treating them all the same...

Keep_pedalling

Why wait until you die? one of our children had student debt the older one didn’t. They both get an equal share in our wills but we paid off the debt soon after she graduated. 

CapeTown

No, treat them equally.  

chrissio

I would sit them down and explain the situation to them and explain why. Seems perfectly reasonable to help out the ones who need the most help. 

Agent57

Don't worry about or pay off the student loan.  Martin Lewis has covered this many times.  Treat them the same.

Skimatty

I think there's a strong case for the inheritance being weighted to the children with less wealth or more debt.

My sister works much harder than me in a public sector job that will never pay as much as i earn in a sales role. I would be happy for her to receive more from from my parents estate as I want her to have the same financial freedoms I have.

If your kids are all hardworking and responsible then the additional loans the younger ones have had to face certainly seem like an imbalance a weighted inheritance could help level out. Doesn't make financial sense to pay it off, and the house price effect also a lottery. but an open conversation with the whole family would be sensible. 

Ultimately inheritance in obscene if you believe in a meritocracy. Its total luck what you end up with, so people should be greatful to get anything and not quibble about a less well off sibling getting a little more help. 

Marcon

Who knows what the situation will be when you die? The younger members of the brood may have outstripped the older ones in earning power well before their parents shuffle off this mortal coil...