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?

@Hoppinggreen

No I don’t. You only have one child at present (hopefully that will change though in the future) In any case if your Dad left the money to his GC directly you won’t have the option to split it, it’s nothing to do with you.

Unfortunately, you'd be surprised by how many parents would pocket that money for themselves. It's not a nice thought, but it does happen.

@PrincessTuna

Having read your subsequent posts OP I'm baffled why this is even a debate. Your dad didnt have a will. He told you all that he would like the gc to get money. Your dd was 1 day old when he died so sadly didnt have a relationship with him.

Essentially you are inheriting and I think it would be really odd/unkind to only give one of your DC some of your dad's money.

Yes, this is what I think. Baffled by the comments saying otherwise.

@TheCovidHalfStone

Why are you so intent on them having equal shares? It’s pretty normal for it to go to children who then do what they want with it. If you died tomorrow that’s your DDs money so IMO you’re already ‘cheating’ her out of £7k. And if you have another child, like everything else she would have to share it 50:50. Did your dad say that’s what he wanted (the £10K split)?

Because Dad wanted the grandkids to have the money. DBro and DSis insisted that DD gets a share. So it is being split 5 ways.

We are giving equal shares because that is how we have interpreted Dad's (verbal) wishes.

If dad had said give it to me, DBro and DSis, then there's nothing to even ask. But he didn't.

I'm not delaying the nieces and nephews payment, and potentially reducing it because we might have another child. To me, that's not fair on the Nieces and nephews. We might be unusual in our family in that, there's no arguments, no "but what about", no contending dad's wishes etc. None of us want this money. All of us want it to be split 5 ways.

Under the circumstances I would give them 5k each as they were never named in the will so aren’t depriving dd1 of her rightful inheritance.
However I would never have agreed to the 5 way split, it should have been 3 ways between you and your siblings then they could divvy out there’s as they see fit.

@GreyhoundG1rl

It's a ridiculous thread, tbh. The "drip feed" was the fundamental point, there was no logical reason to leave it out

I'm sorry. But as I explained,it was a mistake We just refer to it as the GKs inheritance, so I forget that actually me and my siblings are legally inheriting. Sorry for the confusion.

Legally, no, you can’t, if DD was specifically named in the will.

Even if she wasn’t, you’re still on very dicey ground with it.

well if all of you want it split 5 ways there is no more discussion. If there was no will there is no discussion.

You are ignoring alot of the points posters are making here that amount to the fact it is a non-issue. Do what you want. With your third. Seems alot of unneccessary going in circles to be honest.

DBro and DSis insisted that DD gets a share.
Sorry, what? I thought it had been split between the three of you, since there was no will?

@Diaryofanapper

Under the circumstances I would give them 5k each as they were never named in the will so aren’t depriving dd1 of her rightful inheritance. However I would never have agreed to the 5 way split, it should have been 3 ways between you and your siblings then they could divvy out there’s as they see fit.

Even if you knew that your Dad didn't want that?

And besides, it is 3 ways, and we are divvying it out as we see fit. By making sure each (living) grandchild receives £10k. [Confused]

You are certain about splitting the money so each cousin gets £10k. That needs to be done now, clearly at the ages they are they can use the money. You’re all in agreement. That’s great.

But you don’t need to decide about money for your baby daughter and a hoped for sibling now. Your DD1 doesn’t need it right now. So if your question is solely “should I split the £10k” then personally I’d park it in a separate account, still in my name, and decide about splitting it when I knew if I would have a DC2. Your initial post sounds like this is urgent - I don’t think it is. Could you wait and see and then decide?

So do that then. Divvy it out as you see fit.

The End.

@GreyhoundG1rl

DBro and DSis insisted that DD gets a share. Sorry, what? I thought it had been split between the three of you, since there was no will?

...it is. Me, DBro and DSis will get £16,666.

Then the money will be moved in to the kids accounts. And each will end up with £10k. As per dad's verbal wishes.

Me, DBro and DSis will end up with nothing. (Which is fine!)

So what you actually want to know is that when you get your inheritance should you give the sum you had originally planned to your daughter or should you give her half and hold into the other half yourself for a while until you see whether you are having another child.
Is that right?
I would probably put £5000 in an account for her and once you have had your final attempt at IVF if it’s successful put another £5000 in an account for the new baby or if not add another £5000 to your daughters account.

@Hoppythehippo

You are certain about splitting the money so each cousin gets £10k. That needs to be done now, clearly at the ages they are they can use the money. You’re all in agreement. That’s great.

But you don’t need to decide about money for your baby daughter and a hoped for sibling now. Your DD1 doesn’t need it right now. So if your question is solely “should I split the £10k” then personally I’d park it in a separate account, still in my name, and decide about splitting it when I knew if I would have a DC2. Your initial post sounds like this is urgent - I don’t think it is. Could you wait and see and then decide?

The money is due to be released in the next few weeks. :)

But why are they insisting on telling you what to do with your share? The whole thing is bizarre.

@Hoppinggreen

So what you actually want to know is that when you get your inheritance should you give the sum you had originally planned to your daughter or should you give her half and hold into the other half yourself for a while until you see whether you are having another child. Is that right? I would probably put £5000 in an account for her and once you have had your final attempt at IVF if it’s successful put another £5000 in an account for the new baby or if not add another £5000 to your daughters account.

Yes. , That's right.

Thank you

I now see there is no will.

It would have been useful to have had that information included in the original message.

I agree with some PP. You really should all keep your own thirds and split it between your own children, so that the children in each family are treated the same. At least tell your siblings that you are trying for another, who will then be the only grandchild that doesn't inherit anything. You are choosing to give away your future children's inheritance to your nieces and nephews. If you can replace that money yourself so all your own children will have the same, then yes, keep your current arrangement. But if you can't, how will you or your planned child feel in future should your eldest have options available to her that any future children won't? This could easily cause resentment between your own children when your eldest has opportunities or options that your younger child/children don't.

@GreyhoundG1rl

But why are they insisting on telling you what to do with your share? The whole thing is bizarre.

There's no arguments. We're all in agreement about the 5 way split. The only thing they insisted on was that the money was split 5 ways instead of 4, to include DD.

Sorry if this is a drip feed.

Bit of the mother of all drip feeds there OP which will considerably confuse a lot of the answers. There will continue to be references to 'the will', it being your DC1's and illegal to split it.

And then there might be some answers relevant to your circumstances.

Good luck.

Have you told your siblings about plans for another child?

I think provision should be made for that potential child, if it doesn't happen then divide the unborns 10k to the 3 adults.

You have too consider what would happen if you have twins.

If there is no will of course you can split it. I would leave it in an account for now getting the most from it and decide later.

Why wouldn't she have been included, that they had to insist on it? Sorry, I'm confused.

@Wotsitsarecheesy

I agree with some PP. You really should all keep your own thirds and split it between your own children, so that the children in each family are treated the same. At least tell your siblings that you are trying for another, who will then be the only grandchild that doesn't inherit anything. You are choosing to give away your future children's inheritance to your nieces and nephews. If you can replace that money yourself so all your own children will have the same, then yes, keep your current arrangement. But if you can't, how will you or your planned child feel in future should your eldest have options available to her that any future children won't? This could easily cause resentment between your own children when your eldest has opportunities or options that your younger child/children don't.

I know it's unusual. But I'm fully supportive of giving the money away.

The disparity between my children (potentially) is why I considered giving DD £5k and future child £5k, so they're "equal".

Even if you knew that your Dad didn't want that?
Yes, if you’re dad wanted it to be legally standing he should have made a will.

Also
The only thing they insisted on was that the money was split 5 ways instead of 4, to include DD
Why would they need to insist this, did you originally say you didn’t want any money? This doesn’t make sense