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?

Not really sure why you have asked, as you are insistent you aren't going to do what most people think would be the right thing.

If your siblings are normal, nice, kind people - as you are describing them as - then, if they are aware that your Dad might have 6 Grandchildren, (and, from all the information you've given, the only likely outcome is either 5 or 6 - it would seem unlikely that your siblings or you will have any further dc), then surely they would say, 'well, let's split it 6 ways'.

Let the older dgc have 1/6th of the money.
If the IVF doesn't work, then split the final sixth between the 5 grandchildren at that point
If it does and you are lucky enough to have another dc, then all your Dad's dgc would have been treated fairly.

The fact you are adamant you don't want to do that, makes me wonder why you have asked everyone.

Personally I would split it if you have another child. My PIL gave some a similar amount to my children. My DD got the full amount and my twins got it to share. I was furious but DH won’t bring it up with his parents. We will make up the amount so the twins have it each as well and if we don’t have it when they need it then it will be shared out.

I’d split it, as your dad would have if he were still with you.

@GreyhoundG1rl

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

Because Dad never even met DD. And wasn't even conceived when conversations were had.so, I assumed that the money would be split 4 ways and DBro and DSis said no, it must go 5 ways as DD was alive when Dad died. :)

It's not your money.
It's your daughters

@theMoJareajoke

It's not your money. It's your daughters

Read the thread. It's the other way around.

@BackforGood

Not really sure why you have asked, as you are insistent you aren't going to do what most people think would be the right thing.

If your siblings are normal, nice, kind people - as you are describing them as - then, if they are aware that your Dad might have 6 Grandchildren, (and, from all the information you've given, the only likely outcome is either 5 or 6 - it would seem unlikely that your siblings or you will have any further dc), then surely they would say, 'well, let's split it 6 ways'.

Let the older dgc have 1/6th of the money.
If the IVF doesn't work, then split the final sixth between the 5 grandchildren at that point
If it does and you are lucky enough to have another dc, then all your Dad's dgc would have been treated fairly.

The fact you are adamant you don't want to do that, makes me wonder why you have asked everyone.

I suppose because it means it will all be dragged out another year? We just want it sorted. I want nieces and nephews to have their money. I don't want to put spanner in the works.

I don't know :(

Take your 10k, put it aside, if you do have another child split it as 5k each, if not, the full 10k to DD. Your Dad wanted it to go to Grandchildren. I assume had he still been around he would have wanted ALL the grandchildren to be apart of that. So, yes split the 10k if you have another child. Congratulations on your DD and sorry about the loss of your Father.

Because Dad never even met DD. And wasn't even conceived when conversations were had.so, I assumed that the money would be split 4 ways and DBro and DSis said no, it must go 5 ways as DD was alive when Dad died
Ah ok, that makes sense now

@Diaryofanapper

Because Dad never even met DD. And wasn't even conceived when conversations were had.so, I assumed that the money would be split 4 ways and DBro and DSis said no, it must go 5 ways as DD was alive when Dad died Ah ok, that makes sense now

But she was born before he died; when his estate legally passed on. This is bizarre

@GreyhoundG1rl
What is bizarre? I just assumed that it was going 4 ways. Sorry.

I think it’s great that you and your siblings have agreed a plan for the inheritance that was in line with your Dad’s wishes regarding the grandchildren. It’s in the spirit of what he wished (even if he didn’t make a will for it) and he clearly wanted his grandchildren who are now all late teen ages to benefit from his money. Your siblings have been kind and fair in saying your little one shouldn’t miss out so it’s £10k. None of that is written in “law” via a will so once you all have your third it’s up to you all to move cash around as you wish and clearly you have all have a good enough relationship to assume that’s done as discussed.

So you need to now only consider your own children. Legally any money was left to you and you’ve chosen to gift your nieces/nephews a portion leaving you with £10k (earmarked for your DC1). It’s legally YOUR money though (ie wasn’t lift directly in will you your child). For me for fairness within my own nuclear family I would consider than money to be for ALL my children, so both DC1 and any future children I have. I’d invest it in a single account and wait until my family was complete before even putting into the children’s names (you might have twins if ivf so 3 way split if so or else if one further child half it etc). I think that is the fairest way to do it for your own children. It would be different if your DC1 was older and had a personal relationship with their grandfather but your baby was only a day old (and I’m so sorry for your loss and especially the timing ).

Think of it this way.... say you have one more child. On DC1 18th birthday you give them £10k from a relative they’ve never known (sadly) but then on DC2 18th there is nothing. Neither child has a relationship with your dad and the money was left to YOU not them. If I was DC2 I’d be very hurt that you gave it all to DC1 due to them being a day old on their grandfather’s death. I think it will store up lots of trouble for your children and resentment. Split it equally. If you can save add to it so potentially they both have £10k but I wouldn’t worry about that. They won’t be comparing to their cousins £10k inheritances as they of a different age grouping and their cousins will have long ago spend their inheritances. Your children will only be comparing to each other so make them equal - don’t you think your dad would want that?

Hi op, have a look at a compound calculator. If you take the inheritance, , and add 5O a month for 18years @ 1% interest, you end up with more than £23k.

Which would be your child’s 10 plus another 10 for second with leftover.

I just put 1% because of current dire economic situation. If you average 3% = £31.5k.

Invest it, add 50 a month, and everyone will benefit.

You say they money is being released - presumably to you/your siblings. They then want to immediately pass it on to teenage recipients, which is fair enough. Why can’t you set up an account that you mentally earmark as “your children however many that is” and just leave the £10k there for a few months? Your daughter won’t know anything about it. I understand the desire to be done with it, but how can you decide this until you know how many children you have. You could wind up with ivf triplets! Honestly, I’m not understanding the urgency.

There is no way your nieces and nephews should see their £10k pots reduced because you may or may not have another child (or more!). It’s completely unfair and it sounds like you know this already and have no intention of changing what your nieces and nephews will get.

I was totally on team "give it all to the existing child as it was left to her and her alone." However, now knowing that there was no will, and your dad wanted it to be left to "the grandchilden" rather than to named individuals, changes the situation completely for me and I say split it.

I mean split your 10k between your children, not split the total equally between all grandchildren.

Am I reading this correctly that you split the money 3 ways and then divided it by the children within in family? That is how I would have done it. If that is the case, I would hold your 1/3 in a single account until you are sure you are done have children and then split between all your children.

Unpopular opinion but I would split it. Your dad seemed to want to split between grandchildren and there is no will specifying exact ‘grandchild name’. If you have another child I feel you should share it equally between them

I think it's odd that it "matters" whether or not a grandchild was born (or even conceived) before or after their grandfather's death, when it comes to inheritance. If he wanted this grandchildren to receive equal portions, of course your daughter would be included. (I wouldn't have needed convincing of that, tbh.) It's a shame that any future grandchildren will be excluded. Surely your father would've wanted all his grandchildren to benefit equally. (Or I'd certainly hope so, at least.)

The whole thing seems a mess to me, but if you're satisfied, I guess that's what matters. I don't think it's wrong to split your daughter's portion if you do have another child, though. She's young and won't be expecting any specific amount, and I think it's important to treat siblings as equally as possible.

Your first post is totally misleading. You have inherited £16k from your father's estate. Some of which you have already agreed to give away to your nieces and nephews. N ow your child is to be further disadvantaged by potentially having her shared halved in case you have another child. Keep the £16k and decide how to split it in a few years when your family is complete.

Save £46 a month for DD2 so she has £10k by 18

In your particular case then yes, I’d split it if you have another child then try to save another £5k each to make it up to £10k over their childhood. You’d only need to save around £600 per year to do that.

Why would you even contemplate it? it's not your money to decide whether to split it or not!! Its left to your existing daughter not one your trying for..

The fact that it’s the children rather than the grandchildren actually legally inheriting changes everything.

You will get £10,000 to administer, according to the arrangements you and your siblings have made. You don’t need to give it to your DD now, you don’t need to make a decision now. You can put it aside in a separate account as your child/ children’s inheritance from their grandfather, and make decisions when you know what’s happening for your own family.