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?

This is why I think grandparents should never leave money directly to their grandchildren, it should always pass directly to their own children (expect in special circumstances)

I agree with this. You have control over how many children you have (and obviously, once you die, there won't be any more); but it's very far from uncommon to have grandchildren that you never live to see/know of.

There was a thread from some time ago where grandparents left money for the private education of their grandchildren, specifically naming them to benefit - children of one of their DDs (the OP) - as their other DD had repeatedly said that she never intended to marry or have children. After the GPs died, the other DD did go on to have children of her own, and then expected them to also benefit from the GPs' money for their private education, but it wasn't to be - legally couldn't happen. It was a very sad thread.

I'd only say, if your DD/DS has already died, that you'd leave their share to be split equally between their children/spouse (if applicable) - but again, of course, if your own adult child has predeceased you (by 9 months or more), they won't be responsible for adding any more grandchildren in to the mix.

Ok, so your Dad didn't leave anything to his grandchildren. He didn't leave anything to anyone and so the rules of intestacy apply and you inherit via the law. You can do whatever you want with your own money OP.

@AliceTheCamelHasFiveHumps

To complicate things slightly. Sorry if this is a drip feed.

There was no will. But we know Dad wanted it split between the grandchildren. After all the form filling and the probate people losing paperwork etc, it has finally been released.

So, we know that legally have to be split between me, my sister and brother. And we will do that, to follow the letter of the law. Then we will shuffle the money around into the kids bank accounts so they have the £10k each.

Does this change anything from a legal perspective?

yes that is a drip feed.

Absolutely not

Still no for me. Your potential
Child doesn’t exist yet. Give your DD her 10k that all the children are getting and set aside the “share” for you next baby from
The rest of your pot or start saving.

And to be absolutely clear. I do not expect other grandchildren to give up any of their share.

If I were to split, my kids would have £5k each and other 4 will have £10k each.

Who knows if once you all have the money everyone will still agree to give each grandchild 10k? Very much relies on good will. This is why it is imperative to have a will. No I do not think you should give the same amount to a potential child unless you can save for it yourself assuming your dad wanted the money to go to existing grandchildren.

@AliceTheCamelHasFiveHumps

To complicate things slightly. Sorry if this is a drip feed.

There was no will. But we know Dad wanted it split between the grandchildren. After all the form filling and the probate people losing paperwork etc, it has finally been released.

So, we know that legally have to be split between me, my sister and brother. And we will do that, to follow the letter of the law. Then we will shuffle the money around into the kids bank accounts so they have the £10k each.

Does this change anything from a legal perspective?

Honestly, still no. Perhaps not legally in that instance but certainly morally. So you DD's cousins get £10,000 each but she gets £5000 because you chose to have another child later? That's your choice, not hers.

Sorry OP it's not remotely fair on her and you risk her being extremely angry/upset at a later date when she understands the situation.

@AliceTheCamelHasFiveHumps

To complicate things slightly. Sorry if this is a drip feed.

There was no will. But we know Dad wanted it split between the grandchildren. After all the form filling and the probate people losing paperwork etc, it has finally been released.

So, we know that legally have to be split between me, my sister and brother. And we will do that, to follow the letter of the law. Then we will shuffle the money around into the kids bank accounts so they have the £10k each.

Does this change anything from a legal perspective?

How many children do your brother and sister have each?

If they have 2+ each and you just one, they're finished and you're not I can see why it feels you're not getting your fair share.

could you agree it goes in one central pot in all your names until you're all absolutely finished having kids?

You say you want one more but you might not, or you might have 3.

If they're set that it's 10k per grandchild born so they're taking their 20k each and you get 10 then yes I'd put it into a seperate fund and then split it when you know for sure you're done

Ok.

I think DD needs to keep all the £10k.

@AntigoneLost

I wouldn’t, but I’d try and save a similar amount for DC2 myself

I’d do this.

@AliceTheCamelHasFiveHumps

To complicate things slightly. Sorry if this is a drip feed.

There was no will. But we know Dad wanted it split between the grandchildren. After all the form filling and the probate people losing paperwork etc, it has finally been released.

So, we know that legally have to be split between me, my sister and brother. And we will do that, to follow the letter of the law. Then we will shuffle the money around into the kids bank accounts so they have the £10k each.

Does this change anything from a legal perspective?

Oh, honestly No. It doesn't.

Nope. You save 10k from your inheritance to give to your second child.

So you DD's cousins get £10,000 each but she gets £5000 because you chose to have another child later? That's your choice, not hers. I'd suggest something would have gone rather wrong in their family if she begrudges them having another child for the of 5k

@CovidCorvid

Nope. You save 10k from your inheritance to give to your second child.

But op isn't getting any inheritance. There's 50k, it's all going to existing grand kids. Op will have £0

@Mrsbclinton

Yes I would split it equally

If the will allows for subsequent grandchildren rather than those in existance when it was made then all the grandchildren should take a smaller cut.

You can do what you like with YOUR inheritance, nothing officially left to DGC. But as you knew £10k was what he wished his existing DGC to have, £10k is what she should be given. Not £5k.

£10k to existing children.
If you have another (fingers crossed!) any inheritance given to them would come from your share only. Not DDs.

You haven't had a new baby yet,so the said money amount, should be given to the grandchildren of now, and that''s it. You can't take the money for a child who isn't here yet,so very odd,that you would think otherwise.

If you're not in a position to save the same amount for potential DC2 yourself then I would split it. I wouldn't be comfortable giving one child and not the other, either everyone gets or no-one does, that's how I was brought up.

@AliceTheCamelHasFiveHumps

Ok.

I think DD needs to keep all the £10k.

I think so too.

@Sceptre86

Who knows if once you all have the money everyone will still agree to give each grandchild 10k? Very much relies on good will. This is why it is imperative to have a will. No I do not think you should give the same amount to a potential child unless you can save for it yourself assuming your dad wanted the money to go to existing grandchildren.

I have no doubt that the money will be split without question.

None of us want the money. My sister is having kittens because it's been sat in her control for over a year whilst everything has been sorted out. She desperately wants to give the kids their money. My brother has set up a separate account for the money for when it comes, and absolutely will not have in there for longer than it takes to transfer the money back out again.

My sister would pay it straight into kids accounts, but can't because if the intestacy rules.

And let's assume the worst and my brother and sister keep their 1/3 of the money... Well that's on their conscience. I know I'll be sending the excess from my account to the kids accounts.

OP is getting 1/3 of the money. She's giving up some of her share (under intestacy rules) so her nieces / nephews benefit from an equal share of the money.

Just split the money three ways (between you, DS and DB) as per intestacy rules. You can then look after your own children as you see fit and filling your Dad's general wishes. This doesn't leave any future children out.

@Disfordarkchocolate

Legally, you can't. You can ask for the will to be varied but you can't deprive your child. Please take some legal advice.

Not sure that's true.

A relative left my brother money before I was born and he chose to split it with me.

I still don't think it's fair, she'll get much less than her cousins and I'm sure it'll come out. Can't you take an extra 10k out of yours rather than hers?