Anyone know much about investments, am I pinning too much hope on this?

[Gakrpp]

Parents have a 1.2 million shareholding in a company that is very slowly going to wind down. Slowly for tax reasons. Bit by bit they will receive this through sales of properties, asserts and receipt of cash.

I am not a lazy person before anyone flings that at me. I’m in a decent job and mid thirties and had no help getting on the property ladder etc. I have a 300k mortgage after moving last year somewhere bigger. My repayments are 900 a month.

since then my life has fallen apart. Partner left me with a baby a few months old and I am not coping. My main worry is how I will ever pay back this mortgage now I will have to cut hours. This obviously wasn’t the plan.

my parents have said when any money comes through they will give some to me and my sibling bit by bit and obviously they want most of it to do things with. They don’t have a mortgage to pay off.

we never talk about money and I don’t want to ask but do you think, subject to care costs etc, that this is a reasonable safety net to justify staying in my house and plodding on for now? I can’t ask them how much these figures will be as it’s too awkward.

If I had maybe 10 or 20k next year for example it would mean I could easily meet repayments without stress as I would pay 600 myself then use 300 from this each month. I guess I was wondering if anyone financially savvy considered this to be realistic? I’m not able to sleep well at the moment for worry.

Honestly, it’s impossible to say. There are so many variables. If you want to know you’ll have to ask your parents, even if it’s awkward. I would phrase it as ‘look, I know there are no guarantees but I need to make a decision on whether to keep the house. You mentioned that I will get a share of the liquidation assets. Is 10k next year realistic?’

@illiterato I just feel awful saying that. I know that’s really the only way. They said they would give me and sibling ‘a chunk’ when it came through each year but that was it.

It’s less about having the mortgage paid off than it is about being able to manage it if you see what I mean. Having a few hundred a month towards it changes it.

I suppose I should go from the starting point that 40% will be taxed anyway, I think.

@illiterato is absolutely right.
a) you don’t know how much they’ll get each year
b) you don’t know if this will be in liquid cash
c) you don’t know how much of this they’ll be able to gift to you

It may be awkward but just have the conversation for the sake of your kid/ their grandkid.

So it's an awkward conversation vs giving up your house unnecessarily. Unless your parents are absolutely horrible, which it seems they are not as they plan to give you money, then talk to them.