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?

@NeedToGetOuttaHere

I think you should get your third and then do whatever you want with it. If you want to give your DC and then subsequent DC 10k then do it.

My 3rd will go to the grandkids to make sure they all get £10k each.

£10k will go to DD.

The rest will be split 4 ways into the other accounts. All 5 GK will have £10k no matter what.

I will not be splitting DDs money now.

There’s £50K, there was no will, so OP and her two siblings are going to inherit £16,666 each.

They’ve agreed amongst themselves to split it between the five grandchildren, that’s £10K each. They’re doing it because they “know” that their DDad wanted the money to go to his grandchildren. However, he didn’t make that legal by writing a will.

So legally, OP, you can do what you want with your £16,666. You can do what you had agreed and hand over £6,666 to your siblings, and then it’s up to you whether you keep the £10K for your existing DD, or split it when number 2 comes along.

You could speak to your siblings and say, look, can we wait and see if I do have another child, and then split it six ways?

Or you can say to your siblings, sorry, circumstances have changed, I’m going to keep my £16,666 and split it between my 2 dc if I am fortunate enough to have a 2nd, or keep it all for dd if she ends up being an only one.

And legally there is nothing they could do about it. But it might sour your relationship with your siblings....

I think it’s a bad arrangement, and a good argument in favour of making a will.

Changey - perhaps tead the whole thread before weighing in?
There is NO will.

@Changeythenamey

I’m a private solicitor and I deal with disputed wills and inheritance. It’s legally your daughters and you have no authority to give it away. Law aside, I’ve seen families absolutely torn apart by things like this. Disputes which go on for years and cost 10 times the actual inheritance amount.

I hope you read draft wills better than MN posts 🤣 the OP has clarified that her father didn’t actually leave a will, the estate is to be split between her and her siblings as per the laws of intestacy

Yes, a will would have made things easier.

We live and learn.

I promise you I am not going to keep the £10k, that will go into DDs account. Nor the extra £6666.

Tough one is there’s cousins. If they’re all getting 10k each and yours have to split between them. Having said that they probably will never know unless you tell them. I would split if possible or else try to save similar so they each get the same when the time comes but one child receives from you dad, the other from you.

No. It would be illegal.

@nimbuscloud

There's no will

If there is no will your dd gets nothing.

True..

I'm sorry. Technically, yes I am inheriting 1/3 of the money.

But we always refer to it as grandkids inheritance. Sorry. My mistake.

To all intents and purposes, it is the GKs inheriting. Bit obviously not legally.

@AliceTheCamelHasFiveHumps

Yes, a will would have made things easier.

We live and learn.

I promise you I am not going to keep the £10k, that will go into DDs account. Nor the extra £6666.

But legally you will have £16666. It will have to go into your bank account. The bank where the money is being held will want details of the 3 inheritors and will pay the money directly to them.

It depends on how it's phrased in the will. But legally and morally, the £10k was bequeathed to your daughter so if you inherited any money from your dad, I would redirect £10k of your own inheritance to any subsequent child you have. My DGrandpa wrote his will when I was very small, so when he died my DF passed some of the money he'd inherited to me.

Wishing you all the best with your IVF (fingers crossed)

Actually after reading all your updates I think it’s a tricky one. I’d be tempted to ask for a third and split it between your DC and if your next baby if you have one. If you don’t then you could put 10k by for your DC and give each of your nephew and nieces a quarter of what is left.

@Viviennemary

No. It would be illegal.

Definitely not illegal.

But questionable about I'm doing my DD out of her "inheritance".

Ridiculous drip feed. Which makes the first post and the rest of the thread pointless.

So there is you, your DB and DS?
Under intestacy rules you would get one third each of £50k to do what you want with. £16.67k
So you are actually giving away £6.67k of your inheritance so that all 5 GC's get £10k each.
How is that fair?
The fairest way is for you, your DB and DS to take your £16.67k each and divy it up to your own DC as you see fit.
This way any unborn GC could get something.

@NeedToGetOuttaHere

Actually after reading all your updates I think it’s a tricky one. I’d be tempted to ask for a third and split it between your DC and if your next baby if you have one. If you don’t then you could put 10k by for your DC and give each of your nephew and nieces a quarter of what is left.

I won't do that. I wouldn't ask my nieces and nephews to give up their share. They're having £10k each. Nothing will change my mind about that.

It really is only a question of whether DD keeps the 10k or we give her £5k and the second (possible) child £5k. And if no second child, then it's a moot point anyway!

So you inherit and pass it on however you see fit.

Ok

I don't think you are allowed to do that. We had a similar situation with an inheritance and we put in the same amount for DS2 ourselves.

But my way the nephews and nieces get 8.3k each (almost 10k).

That’s a pretty epic drip feed!

I would never have agreed to the “each grandchild gets £10k split” in the first place in your circumstances, knowing you plan to try for another child. I’d have split everything three ways as legally specified and then let each parent deal with their own children as they see fit. You’ve painted yourself into an impossible corner now because I think any way you do it from here on, if you have another baby, either DC1 or DC2 would have a legitimate grievance.

You'd better get saving then so that both your DD and her possible sibling aren't impacted by your generosity to your nieces/nephews

And I don’t buy “such and such would have wanted it” arguments for the most part when people die intestate or with very out of date wills. If they cared that much about it they’d have an up to date will that specified it.

I would. Presumably your dad wanted to treat his gc equally. On that basis I would share it with the sibling.

Sorry for your loss

@Marmight

So there is you, your DB and DS? Under intestacy rules you would get one third each of £50k to do what you want with. £16.67k So you are actually giving away £6.67k of your inheritance so that all 5 GC's get £10k each. How is that fair? The fairest way is for you, your DB and DS to take your £16.67k each and divy it up to your own DC as you see fit. This way any unborn GC could get something.

Because Dad verbally told us he wanted the money to go to the grandkids about 2 years ago. Before DD was even conceived..

He died unexpectedly and there was no will. We are honouring his wishes as we understand them.

Each grandchild will receive £10k. I don't think it's unfair that I am "giving away" £6,666. I think it's absolutely fair and reasonable. I even argued that DD shouldn't receive anything. DBro and DSis insisted the DD gets a share as well, even though she was 1 day old when Dad died, and he never met her and wasn't alive when these conversations happened.

My only dilemma is whether I split that £10k in 2 if a second child appears.

OP your drip feed makes half this thread useless.
As this is a 'moral' question - don't split the inheritance, it's your DD's to do with as she wishes. Maybe reflect this in your own wills as it will eventually boil down the same thing but seems 'fairer'.