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Financial stuff with new partner

(15 Posts)
julia651 Wed 17-May-17 10:30:31

What does everybody else do? I have 2 children, he has 3, all grown up. Should we split inheritance 50/50, then his kids get a third each of his half, and my kids get half each of my half. It's not my kids fault that he had 3 and I only had 2. Or should we split it 5 equal ways?
I have more equity than him to begin with, but he earns more than me.
I'm looking for ideas to think about and discuss with him! Help! It's such a minefield!

ImperialBlether Wed 17-May-17 10:32:06

Split it 50/50, then you leave yours to whoever you want and vice versa.

But how new is new anyway?

Confused1983 Wed 17-May-17 10:34:59

If its a new partner why are you both thinking of combining wills? How long have you been together OP?

rizlett Wed 17-May-17 10:36:46

Spend it all yourselves - no arguments. grin

newbian Wed 17-May-17 10:41:23

If your kids are grown up, I don't understand why they should get any inheritance from their mum or dad's new partner. The partner hasn't raised them, they haven't grown up in a sibling relationship with the partner's kids, etc.

julia651 Wed 17-May-17 10:47:57

Been together about 8 years. We were both married for 20 years + before that. Just thinking about wills etc. Might well not be anything left anyway, the cost of care homes! And none of the kids are 'expecting' any inheritance anyway. And they'd all be quite happy if we just spent it. We just want to be fair with what is left over if any.

MysweetAudrina Wed 17-May-17 10:48:26

My dh has 2, I have 1 and we have 2 together. It will left to them equally, split 5 ways. I would hate to cause any friction between the siblings when we die. They are all our children and are treated the same by both of us.

Joysmum Wed 17-May-17 10:48:32

Depends what stage your relationship is.

I'm an only child. My dad had a large amount of equity in his home compared to my step mum who had little equity.

They are married and their assets are to go in 5 equal portions (I now have 4 step siblings).

Personally whilst I only am close to one of my step brothers, I am glad my dad sees my step mum as his equal and her kids are equally valued to me. I respect him all the more for it.

Quartz2208 Wed 17-May-17 10:49:18

Your half goes to your kids, his half to his. Easy

nauticant Wed 17-May-17 11:02:54

Your half goes to your kids, his half to his. Easy

That would be my thoughts too. With sensible safeguards in place, for example a surviving partner can stay in the family home until they choose to move out, they die, etc.

Wills can be changed so there can be a situation in which one partner dies, leaves everything to the other partner, then the surviving partner makes a will leaving everything exclusively to their own kids.

PookieDo Wed 17-May-17 18:22:45

I will get 25% of the total as shared with my one full sibling and 2 step siblings

If more siblings on either side I would still get an equal share, that's how they have done it and I suppose it is fair to us all at least

PookieDo Wed 17-May-17 18:23:53

PP said about will changing - this was one of my queries about it. I think my stepmother would just change if if she inherits from my dad and cut out me and my sister so there is that risk I suppose

Falconhoof1 Wed 17-May-17 18:27:48

One of you will die first (sorry, sounds so morbid!) and leave everything to the other I would have thought? Then the surviving partner would split hopefully fairly, but I have experience (not me but cousins) of that not happening!

Quartz2208 Wed 17-May-17 18:49:30

If you have a house become tenants in common and leave your half to your respective children and give the other s life interest so they can remain there as long as they want

Hellothereitsme Wed 17-May-17 19:00:43

My stepmother has changed her will now that my father has died. Everything is going to her sister. My brother and I are not being left anything. My mum would be so upset if she knew that the savings and capital on my parents house isn't staying in the family. Please get wills done properly so that this doesn't happen if you want your assets to go to your children.

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