Who would you leave your money to in these circumstances?

[Pumpfive]

Single, no kids (would like this to change but for the moment this is what the circumstance is)

If I was to die tomorrow I'd have money to leave behind. I'd leave some to charity.

Who would you leave the rest to?

1. parents (in their 60s)
2. siblings (2 plus an in law) - if this option, what percentage to each considering 1 is married and 1 is single)
3. nephew (baby)
4. a mixture of the above (again, what percentage)

I'm struggling with what to decide. I was thinking my nephew but wasn't sure if this was a bit mean to leave the rest of the family. I also have a couple of godchildren.
Obviously I'm hoping I live for a lot longer and I'll have kids to leave it to. But just in case..!

For me it depends if anybody is already comfortable/well off.
If everyone is on a similar position i would split it equally between each family unit.

Godchildren I think, probably to be divided equally with the nephew.

Depends how much you have.

If you leave it to your parents eventually they would leave it to your siblings???
Also it depends. Do your parents need the money?

If they are well off. Then maybe a token gift for your parents.

And the rest split equally between your siblings- maybe in trust or protected so their partners cant claim it in the event they split up.

If you leave it to your nephew would it be awkward if he has later siblings?

If you trust your parents to use it to help the family out in general as needs arise, to them.
Otherwise equal split between siblings.

50/50 to the siblings

A fairly token bit to the godchildren if you like

Are you likely to have more nieces/nephews? If so, I'd try to sort out a trust to cover all of them, not just the one that's there now.

Charity then remainder
50% nephew
50% split between godchildren

I’d go with:

20% each sibling (wouldn’t mention in law or make a distinction between married and unmarried)
10% to charity
Remaining 50% to be split equally between any nieces and/or nephews at the time of your death, possibly including godchildren in that class if so inclined. That’s just me though.

For me it would be 3) nephew. He’s mid 30’s and not in need and I couldn’t leave money to DSis as it could mess up her accommodation. She’s disabled and has appropriate social housing.

Thanks for all of the input! Really helpful.

To answer a few questions: parents are not loaded at all, so I think I'd leave some to them maybe. They will get a good inheritance themselves though at some stage.

We are a close nit family and my parents (although don't have tonnes of money) have always helped us out when needed. Same it my siblings needed help. We are close.

My godchildren don't come from a family with money either so I think maybe a token to them and the rest to family.

Oh and yes, very likely to have more niece/ nephew and had already taken in to consideration including future ones :)

I'm married, but no DCs. If I didn't have DH, it would all go to one or two small local animal charities (and I have a parent plus siblings and nieces / nephews). My parent and siblings are reasonably well off financially. I'd rather the money went where it would make a difference.

Something like 50pc to my sibling, 20pc each to niece and nephew, 10pc to godson

I wouldn’t leave any money to charity I’d leave it to my siblings split evenly.

Depends how well off they are.

If your parents are comfortable I would just leave them a small amount and split the rest between siblings and their dc plus godchildren if you're close to them.

I would say write it in a way that means you don't have to chane it if circumstances change so e.g. any children of your own would receive the full amount divided equally if more than one, if the CHildren pre decease you then to divide the monies between all nephews and nieces equally, or 50 50 to siblings

I wouldn't leave to parents or in laws keep to family and or god children

2 and 3 nothing to parents assuming financially solvent as not tax efficient.

I have 3 childless uncles who have/will be leaving their inheritance in a trust for their nieces/nephews and their descendants to access education which I think is a wonderful thing to do.
My mother is one of the trustees.

I've split it equally amongst my nieces and nephews. My view is, they could get a house deposit and a start in life.

Pre marriage and DCs my will was split between nieces, nephews and ex-SD equally. My godchildren are my nieces anyway. I put my life insurance policy in my DBs name so the money went straight to him to cover funeral and other costs straight away.

50/50 between siblings.

I will be in this position - no kids myself so nobody immediate to pass it to. Remaining parent is wealthy, sibling is single no kids but also well off.

I think mine (assuming there’s any left) will go to my cousin’s kids and my friend’s kids - she and her partner both work but wouldn’t be able to afford to send their kids to uni for example, so it’d be nice to pass some on to them. And the rest will go to various charities that have meaning to me in some way.

50/50 to siblings with a token gift to godchild. It's the simplest and fairest.