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

horsewithnoname

My sibling got more of the inheritance than I did; not a problem it was for perfectly justified reasons. 

And anyone who equates money with love needs to have a word with themselves. 

I agree with Julius Caesar 33 above. 

ShinyStarlight1

What if the ones who are doing well now have an accident or become unwell and can’t work anymore? Future circumstances are not always predictable or reliable. Also, no matter how rational people are, it can hurt to see a fellow sibling get more inheritance because it can be emotionally read as them being loved more.

BridgetTheCat

I’m never more glad to be an only child than when inheritance is discussed. I can’t tell you the number of people I know who’ve fallen out with a sibling over it.

Equal is not always equitable but unless you’re literally estranged from one or more of your children then I think equal shares is the least likely to cause problems between them.

Jemma01

You should give the money now, it is incurring interest on the poor thing, and it won't create tension between siblings fighting over money after you pass. Get the account details and pay the debt off, wouldn't hand over cash.

Help them now, you're alive, it is your money, no one has any right to question you. You don't question them.

Agent57

https://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes/

Ignore newspaper headlines about students leaving university with £60,000 of debt. That's mostly a meaningless figure. What counts is how much you'll repay. For some that's far more, for others it's free. 

Moneycraver05

Nobody really ever pays back their student loans as it dies after 30 years so disregard that 'debt' full stop. Simply think of it as a tax (it's peanuts anyway, i'm on good money and paying back shy of £7 per month!).

In any event, treat them the same and give them the same equally because they will end up resenting each other when you're gone. Do you really want your legacy to be favouritism amongst your kids?

Not really a moral dilemma here, more of a lack of understanding for how the student loans system works. 

[Deleted User]

Moneycraver05 said:

Nobody really ever pays back their student loans as it dies after 30 years so disregard that 'debt' full stop. Simply think of it as a tax (it's peanuts anyway, i'm on good money and paying back shy of £7 per month!).

In any event, treat them the same and give them the same equally because they will end up resenting each other when you're gone. Do you really want your legacy to be favouritism amongst your kids?

Not really a moral dilemma here, more of a lack of understanding for how the student loans system works. 

Not quite correct. These are the figures for a recent graduate earning £70K per year


For anyone interested Student Loan Calculator

Agent57

That's the point.  If they are earning £70k a year then they should not be in desperate need of the bank of Mum and Dad.   If they are on low pay then they will not be paying back the full loan.  

JayD

Keep_pedalling said:

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. 

I agree with all those who say, treat them all equally in your will.

I also think there is some merit in at least helping the younger ones who are struggling with the student debt, as much as you can.

Benthebadger

My Husband has children, who range from a Professor to  life-long unemployed scrounger. They are ALL getting the same in his will, which I think is perfectly fair. Penalise the one who has risen to the top and reward the idle one? Now that WOULD be unfair IMO.
As regards paying off student loans, what if the OP doesn't have the cash to do that? They have to plan for their older years as none of us knows if we will need paid-for care.