I am assuming that you have already paid inheritance tax on the money? So any redistribution now, would be YOU gifting away your childrens inheritance tax free so to speak?

It is not fair on your own children, sorry.

Any guilt you have for your own dc3 you will have to handle by investing from your own money/salary for him/her.

Like I am assuming your siblings have done for THEIR children? Assumably your siblings have inlaws which may leave an inheritance for their children/granchildren. Will you expect to get a chunk of that money some time in the future? Will you be disappointed if you dont? What if your siblings kids stand to inherit more than your own children? How will you feel if you have given your childrens money to your nephews and nieces and at some point in the future they are left money by other relatives?

I think you ought to respect the wishes of the will.

My oldest son inherited XX k from my uncle. My youngest son was not born. I am putting aside money every month for ds2. Later on, I will have to try and even out the difference myself. But in my view, those XX k is for ds1. He was loved by my uncle.

My parents have 2 daugthers. One a single mum of 1 child. Me, married with two children. Should I expect MORE inheritance just because we are a larger family? No, of course not!

Ok, it's more complicated than I thought...

Will investigate further. Thanks all.

I think a deed of variation has to be done within 2 years (so too late now), and it also needs the consent of all beneficiaries, so it may not even be possible with minors.

freebox, I think you need legal advice even if only informally from a solicitor on MN. I vaguely think (although it's been nearly twenty years since I studied trust law and I wasn't very good at it even then) that if the money was left specifically to your DCs then it is actually in trust even if you haven't realised that it's in trust. And what you can do with it is then very limited (and doesn't include distributing your DCs' money among other people). I'm not sure how easy it is to draw up a deed of variation if some of the beneficiaries are/were minors.

Check what the will actually said, but if the money was left to your DCs then that was done in the knowledge that you and/or your siblings could have more children in future, so your relative presumably made a conscious decision to do it the way that he/she did.

Freebox, I think you should post this on legal to see if any of the lawyers over there have a view.

Hello Freebox,

It is difficult to know what to do - are you very close to your siblings? If you are I suppose it makes it harder but then again they were also left money and they could have invested it and be sitting on a small fortune now and you may not even know it!! If you then give their kids some of the money left to your kids you might end up worse off.

Depending on how much it is you could do a deed of variation as suggested by clean and clothed - you would need to set up trustees and you would only be allowed to draw out so much per year without paying tax. Depending on how much the initial amount is and if it is invested wisely for a period of time before accessing it could accumulate quite a bit.

Only you can make the decision that feels right for you - sorry that is not much help is it? IMO though I would be inclined to leave it for a while and see how things pan out

If I were your sister I wouldn't expect you to split the money with my children (who didn't know the relative). But I understand where you're coming from, and it's very kind of you.
Having the money towards university fees (or travel etc) frees you up to help out your DC3 yourself with these things - so it's not so unfair on your youngest.

I have only invested my DC's share for 7 years, not everyone's.

Interesting that the vast majority of you thinks I should keep it for my 2 DC. DH agrees - says that in the reverse situation it wouldn't cross his mind that his kids were owed a share. I hadn't really thought of it like that TBH.

This happened to me; my great grandfather left money (in trust) to only those great grandchildren who he had met- he even stated something on the lines of only those that had sat on his knee!!

I was born after he died, and when the trust matured on my brothers 18th birthday, he split the money with me! out of kindness. I think my parents had spoken to him about it, but it really was his decision - So my brother lost out on my behalf.

I would have understood if he had not split the money with me, it was his!

My cousins however did not; they were not approached. It was seen that each side of the family was separate when it comes down to money.

I think that it is unfair- but thats life i am afraid. I think that each family should accept this, i would not split the money outside your own children.

She may have thought about this in her will- when writing one this is the sort of question that she would have been asked; perhaps she didnt want to spilt the money or she would have stated - "money goes towards current and future children of freebox" and "current and future children of freebox sis/bro"

It is a difficult situation, but in reality the money belongs to your children not you so it is down to them.

PS my great grandfather also only left money to the males in the family, not even his own daughter and sister! The family sorted this out but a Will is a Will, so things have to be split how the person wanted it, not how everyone else wants

freebox - I don't think people usually consider the number of children when doing wills.

eg My MIL and FIL have 2 sons (DH and BIL). PLSs have left their bungalow and any money that they have to DH and BIL with a 50:50 split. Me and DH have 2 DCs and BIL has no DCs - but it doesn't mean BIL should inherit less than 50% of PIL's stuff does it, just because he has no DCs?

I think that you should leave it all well alone! In your position, I would try and save some money for your DC3 to even it up yourself between your own children.

Another example for you, I know of an old lady who had no children and was a widow. She died and her will left her house and money to her nieces and nephews. It was not split evenly at all - each person received a specified amount, varying MASSIVELY! FIL was one of the beneficiaries and he received £1,000 and FIL's cousin received £150,000 !!!!! Obv this lady didn't like FIL much , but anyway, those were her wishes and I think you should stick to them really.