# Mumsnet Talk

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## You want to write a will, you have two children ...

(46 Posts)
Contraryish Tue 17-Jun-14 08:48:59

... one child has two children of their own, the other has four. You want to pass the money straight down to you grandchildren to optimise tax. You also want to share the money fairly between your children. All the grandchildren are grown up, some married, some with children of their own. None of them are in specific need of financial support.

How do you split the money fairly among the six grandchildren?

This is not me, I'm not that old! I'm just curious to what the normal solution would be!

tryingtocatchthewind Tue 17-Jun-14 08:53:51

I can only advise how mine did it. One set just left everything to their children, nothing to grandchildren and the other set left a specific lump to each grandchild regardless of who the parents were and whether they had children. The remainder plus property was divided between the three children.

No one had a problem with either method

Tue 17-Jun-14 08:55:13

Personally, I would decide how much to leave each of own DC then whatever's left would be split equally between the 6 grandchildren.

Are the DC getting anything? If not, then the money is just split 6 ways.

BakerStreetSaxRift Tue 17-Jun-14 09:00:12

I would give each of the children the same amount, and each of the grandchildren the same amount.

Eg, if 100k, say 41k to each child then 3k to each DGC, for example (proportions can be varied if you want to leave more to the young'uns.

Mitchell2 Tue 17-Jun-14 09:00:34

I'm in my mid thirties - no kids (yet!) - and have already had my will written (by a professional) and future proofed it for my unborn children and their children a little weird I know

we made the decision to split equally between our children and then if they are not around then the split each goes between their children - eg in the scenario above one family would have 50% to share between two, and one 50% to share between four. For us, we didn't think it was fair that son/daughter and in-turn their children received more than others just because they chose to or were able to, have more kids. Its all hypothetical at this stage (currently baking my first!) but that is what felt right for myself and my husband.

But, its obviously up to the individual to decide - its not unusual at all for the grandchildren just to get an even amount, despite one family in theory getting proportionately more than others if that is what feels right and fair to you.

Personally though unless you have very strong feelings about needing to help one grandchild more than another I would just split it evenly between the six if I would going down that route penalize one grandchild over another due to the age or life choices. But again, that's just my take on it.

sanfairyanne Tue 17-Jun-14 09:03:21

i would just split it between all the gc i think, if i wanted my grandchildren to inherit then i would try to be fair to them, just as, if i wanted my children to inherit i would do an equal split

what if someone has more children after i die though?

maybe it is safer to leave it to the children and let them give away their inheritance to their children as they see fit? or even to alter the will (heard this is possible)

starfishmummy Tue 17-Jun-14 09:03:52

I would say something like the "remaining money to be split equally between my grandchildren".

Because there is always the possibility thatt more might be born. Saying "my six grandchildren" would cause problems if there were seven or more when the person died!

3boys3dogshelp Tue 17-Jun-14 09:06:04

My gps left a fixed amount to each grandchild then divided the rest equally between their 3 children. (1 had 3 kids, 1 had 2 kids, 1 had no kids). That seemed fair at the time.

Contraryish Tue 17-Jun-14 09:07:32

I think all the money is to be passed down to the grandchildren, otherwise it could be split 50:50 between the two children and they could sort it out for themselves.

But splitting equally between the six grandchildren would mean that one side would effectively get twice as much as the other. That doesn't seem fair, but nor does it seem fair for some of the grandchildren to get more than the others.

If you leave money to your children, and pre-decease them, under some circumstances they have the option to vary the will as if, e.g. You had left the money equally to them and their spouse and/or children. So you can opt out of the decision and let them choose

NB - I am not a lawyer - seek professional advice!

Tue 17-Jun-14 09:10:33

My parents have left everything to be split equally between my brother, me and our 3 children. In theory that means that my brother's 'side of the family' is worse off as he only has one child whereas I have two, but my parents' attitude was that each person benefiting from the estate should have an equal share. The grandchildren are all adults.

Tue 17-Jun-14 09:12:08

BillnTedsMostFeministAdventure you're correct, it's called a 'deed of variation'. BUT... all the beneficiaries of the original Will have to be in agreement.

ThinkIveBeenHacked Tue 17-Jun-14 09:14:16

But one family isnt getting more than the other - you arent splitting it by child, you are splitting it by grandchild, therefore each grandchild is equal.

if you think the children shoupd be treat equally then split it two ways (and face the tax implications) for tgem to spend as they wish.

Tue 17-Jun-14 09:14:31

We have 7 dc and 9 dgc we are leaving £1000 'spends' to each dgc and the rest split 5 equal ways. One ds has 3 dc, two have 2 each and the other two each have 1 dc. At Christmas each dgc gets an equal gift, its the same principle.

RunAwayHome Tue 17-Jun-14 09:15:04

I think either splitting it equally between two children (and then they can split it as they like amongst their own children in their own wills), or splitting it equally between all the grandchildren - because it's the parents' choice to have 2 or 4 children but not the children's choice to have 1 or 3 siblings. So even though it eventually comes to the same thing, it seems fairer to me to tie the decision to the person that had a choice, if you see what I mean. You're a grandchild in your own right, equal to the other five, when it comes to that grandparent/grandchild relationship, and if the money is being distributed along that relationship, then it would seem fairest to do it equally. If there is some need to divide it into the two families, then that's really actually using the parent-child relationship, and then it might as well be done that way officially and split between the two children.

APotNoodleandaTommy Tue 17-Jun-14 09:15:06

My grandmother did
One third to my uncle
One third to my mum
The remaining third spilt equally between her grandchildren

Contraryish Tue 17-Jun-14 09:16:18

The 'children' in question are in their late sixties. I think more grandchildren coming onto the scene is unlikely!

Forty, so if my dad and my uncle, say, got 50% of my grandma's estate and my dad wanted to give me half his share, would my uncle have to agree?

Contraryish Tue 17-Jun-14 09:18:23

This is just me being nosy, btw.! My husband's grandmother has just died at the grand old age of 98 and apparently any money she has was to be 'split between the grandchildren'!

Anything we get would be a bonus, I wouldn't be contesting any wills!

Theas18 Tue 17-Jun-14 09:18:30

gawd no not that old chestnut.

My mum will resent her mother for ever as there are 2 of us and 3 of my cousins and that was how the money was split- in ratio of grandkids.

I have 3 kids, sister has 2 and mum has split things 50/50.

I am trying not to resent this but it's getting bloody hard as, if you've read my other posts, sis and family now live the dream life in the sun, I work and do all the worrying/medical stuff/running to hospitals/rescuing dad because mums been admitted etc etc ( and from 70 miles away). Also we don't have much money to spare and are seeing the kids through uni. Sis kids privately educated, not likely to go to uni etc.

You can't win I think!

GrouchyKiwi Tue 17-Jun-14 09:19:27

Just want to check: are you talking England or Scotland? There are rules about how much you must pass on to your children in Scotland. Otherwise, carry on. :D

Tue 17-Jun-14 09:21:04

BillnTed, no, because your father would be disposing of his share as he saw fit. If, however, he wanted to change the will such your uncle's inheritance changed (so, for example, splitting the inheritance into equal thirds, one for you, one for your dad and one for your uncle) then your uncle would have to agree to the deed of variation. I think

OwlCapone Tue 17-Jun-14 09:22:52

I would split it equally between the 6 grandchildren. Whether one side or the other gets more is irrelevant as all 6 have the same relationship to the person leaving the money.

Tue 17-Jun-14 09:24:19

If you are bypassing children and going straight to grandchildren, then I would personally think of them as individuals, not by products of their parents.

The parents are receiving nothing - so they are irrelevant. The GC should get exactly the same amount each.

Tue 17-Jun-14 09:29:34

The grandchildren should be treated equally as individuals regardless of which side of the family they are from. Which side of family they are from is irrelevant.

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