Shall I split DDs inheritance of baby 2 comes along?

[AliceTheCamelHasFiveHumps]

DD is about to inherit £10,000 from my Dad.

All grandchildren were left the same amount.

We are trying for a second child. It's IVF and we have only one chance. If second child does come along. Do you think I should split DDs inheritance with her?

Legally it’s the OP’s money.

This is why you should really keep it clean and and simple and divide inheritances between children. Otherwise the last one to finish their family/having children is disadvantaged.

I do like and admire that you just want all of your Dad's grandchildren to benefit equally.

Have you thought about talking to an accountant or someone about setting up a family trust/UK equivalent that the grandchildren can all access when they turn 18 ? If you all agree to this then it shouldn't be that hard. You could even still inherit it but you're just agreeing and sitting down afterwards to all open a trust together.

Personally if you all have two children each (and you're planning to) I think my
idea of just keeping your inheritances split three ways and then splitting two ways (and in your case waiting to split two ways) is the cleanest option. If in the very unlikely case your second child doesn't come along (and i'm sure they will, i'm sorry if for the purposes of this I seem cold) then....

You would split your 50% of the $16666 between all 5 grandchildren and all will be fair and well xxxx

There is no will the OP's father died intestate which means legally it is the OP's to do as she wishes but morally she wishes to honour her Father's dying wishes which were verbal and not in a will. So rare for a family to be trusting and honour it. Lots of love and respect, you'll all do great. Good luck to you op x

Legally you’re not allowed! It’s your daughters that is already here.

This thread is really confusing.

There was no will, so the three siblings (OP, her DBro and DSis) are legally getting all of the money. The plan is for the three siblings to give £10,000 to each of the living 5 grandkids, of which 1 is OP's DD. So, her DBro and DSis have 4 children between them.

Is that right?

There are the following options:

1. Split the £10,000 intended for the OP's DD between the OP's DD and the OP's potential future child. Legally fine, because the gift of £10,000 came from the OP and her siblings (well, TBH, it came from the OP, because she has fewer children than at least one of her siblings). I think is is the option the OP was primarily considering?

2. Reserve another £10,000 for the OP's future child. This works if there is enough money to do so (I think there is?) and it means all three siblings are getting the same amount for their family, assuming the OP's DBo and DSis have 2 children each. Otherwise, someone is getting £40,000 or £60,000 for their offspring, someone is getting £20,000 (the OP) and someone is getting £nil or £10,000. I can't figure out what the situation is?

3. Reserve £10k out of the OP's share for a potential future DD. Only an option if the OP is set to receive at least £10k personally after giving after the cash to the grandkids. Is there enough money for this?

4. Do nothing, all the grandkids get £10,000 each and the rest is shared between the OP, her DBo and DSis. Possible future child gets £nil.

5. As with 4), but the OP attempts to save up £10,000 for the potential future child by the time the child is 18. I think this is an option that has been mentioned a few times but the OP has not acknowledged.

Have I got this right?

It's not worth the expense of setting up and managing a trust fund for the amount involved.

Nope
There’s 50k

All the best with your IVF OP too. Many blessings to you.

Do not forget to take a break from this and properly grieve. 🌹🌹🌹🌹🌹 Your Dad would be very proud of the thought and care.

@AliceTheCamelHasFiveHumps Please see and believe the advice given by @disfordarkchocolate

Please take legal advice. If your DD is a minor you may need to set up a trust fund. The inheritance stands as it is set out in the will and at the time of death. The benefactor could ask for a variation but not while under 16 and any variation has to be approved before probate

Please take legal advice if you do not believe us. There is a saying that "free legal advice is worthwhat you pay for it"

I would split personally.

I'm crossing my fingers the other two siblings have 2 children each because then you could just inherit your $16666 each and divide evenly between your current and prospective children.

I mean yes you could save but your Dad clearly wanted to give the next generation a boost and I think he may have wanted that to be equal and fair and I think for a grand baby he won't get to meet - all the more reason he'd want them to be included.

There is no will.

THERE IS NO WILL. the money is OP's.

Not sure why this is so complicated, especially when the 6th child doesn't even exist yet . Stick the £10k in a savings account. If 2nd dc does happen, split it.

I don’t think I would because as others have said it’s depriving your exiting child of what her grandad wanted her to have.
I know it seems unfair on any other child you may have as your eldest will have more in savings than her sibling but unfortunately that’s just life.
It’s no different really than my children as their grandparents both save a small amount for each of them every week and the eldest’s account has more in it than the others
Having said all that if your dad has left any of his money to you and you feel uncomfortable with the fact that one of your children has more in savings than the other then than perhaps you could put £10,000 into an account and leave it there until such time as you know whether your eldest child will have a sibling.

Jesus wept, are we going for a world record on the amount of people who haven't read the full thread?!

As others have said THERE IS NO WILL. This is a moral dilemma not a legal question. The OP could spend it all on glitter if she wanted to.

Ok, if you are insistent on splitting the money five ways initially then , yes I would split the £10k in two, put both £5000 s in a savings account and, if possible, keep adding to both until your eldest is 18. Then, if you have 2 children, they each have a savings account, if you just had the one, they get both.

Oh and THERE IS NO FURTHER INHERITANCE. Is it so hard to just read even the OPs posts? There's a button and everything.

Well it might have helped if the first post had been amended 13 pages ago. And not just a drip feed making a lot of the replies a complete waste of people's time.

Follow the law.

Intestacy law says inheritance is split equally between next of kin. It sounds like that's 1/3 each you and your siblings.

What you do with your own third is up to you.

There is no inheritance for any of the grandchildren. There is only what their parents choose to pass on to them.

The inheritance is yours, not your daughter's. If you want to give away £6k to your nieces and nephews then do so. Put £5k in your daughter's account. Save £5k in you account. If another child happens to come along, you've got the £5k to give them. If not, give it to your daughter. I'd prefer my children to get an equal share of MY inheritance.

If it would have been what he wanted - ie all GC to get some, then yes I would split it as it is coming to you as parents then you are transferring it to children rather than in a will as a set amount.

I’m with Vivienne Mary on this one - surely if anyone wants advice it’s best to give all the relevant information in the original post.
I’m obviously not the only who reads what’s been written and the responses on the first page and then moves on to the end to comment.

Oh FFS OP. You want to disadvantage your own (potential, likely) DCs (and anyone else's possible additional DCs) because... feelings, interest and an overwhelming sense of immediacy.

Get rid of that last driving force and you eliminate the problem.

So, agree amongst you and your siblings (the legal, equal inheritors), that all your DCs inherit when aged 25. At the point that the first GC reaches 25, you distribute the funds equally between living GCs. You can invest all the money into a good 5-year+ fixed-interest account, or similar (ISA if you and siblings are not already using your own allowances), until that time.

It also makes it more likely the GCs will use the money productively, for a house deposit, professional training or something they've really thought about, than that they spend it impulsively, or fritter it away, aged 18-21. Easily done.

That allows time for anyone to have more children. Then you'll know what you're dealing with.

This is not complicated. The OP is making unneccessary drama. for several posts just why??

No will. 3 adult children. Inherit equally.

what the adult children do with their share is up to them.

The End.