Is inheriting 100k as a 27 year old in the UK quite rare?

[YourWaryPlumBalonz]

1. Inherited over 100k from distant family member
2. Have friends who have inherited 200k, 300k but admittedly they are a tad older than me
3. Thus is it weird
4. As an autistic person, do u advise me to tell others if peopel ask me how I got a new car, etc

I did and bought a flat. No one asked me where the money came from. If asked, I said I inherited enough to help the purchase but didn't say how much.

Very rare. Don’t tell people. People can be very shitty/resentful/jealous over far less than that. In my experience.

You don’t tell anyone.

Pretend anything you buy is on a loan/rental. People will be weird and or start asking you for money. You don’t have to be honest about everything.

Same with my children aged 17 and 19. Their dad knew he would die young(brain tumour) so left them £100k each through a life insurance. Sorry you lost your dad in such an awful way. Hope life has since been kinder. My dad is still here at 94 so I cannot begin to understand how losing a dad young really feels

Nice one

Any inheritance, at any age, is a piece of good fortune, but the fewer people you tell about it, the better.

@YourWaryPlumBalonz i’m sure ve read this before?

Same

This. We inherited in our late 50's, the grandchildren also got £20k each. I think if you are in very small families you could get that kind of money, but all the families I know have multiple children/ grandchildren, so any inheritance is very diluted.

Up to you to say you were very lucky and received an inheritance, but don't tell them how much. That's your business.

OK. I hope the executors of the distant family member's estate had a deed of variation drawn up.

I inherited c 83k at the age of 28 very unexpectedly around 25 years ago. I barely told a soul. People get very very funny and jealous about money, even the ones you think wouldn't. I squirrelled mine away until buying a first house and most people presumed we had a full mortgage.

Why? As long as the will was enacted as written, the beneficiaries can give it away to whoever they want.

Absolutely don’t tell anyone. Not a soul!!!!!!!!!!

my family made this mistake and it was the worst mistake in their life

You are fortunate. I would tell no one but your financial advisor.

Invest wisely and you might have a home and a solid pension before you retire.

If you have money/savings or come into money by inheritance or gift, you should keep it very quiet. Some people will be jealous or resentful and think you should pay for them or ask to "borrow" some.

It's rude to ask how you afforded your car. Just say saved up and if that isn't plausible then "family helped out" which is true. Neither requires you to fess up to having 100k inheritance and you have no obligation to disclose.

Tell no one.
20k in a stocks and shares ISA, now and again after April ‘27. Max out your pension contributions, compound interest at 27 is on your side. Don’t fritter it away!

It is unusual. Most people get their inheritance (if getting one) from parents, and thankfully most of us don't lose our parents so young.

I didn't get 100k, but I lost one of my parents when I was early 20s. That was nearly 30 years ago, so with inflation it would be worth more now, and would be considered a decent lump sum, but not as much as yours.

It's bad form when people say you are lucky to have had an inheritance. The money is a detail really, the most important thing is that your parent has died when you are young, which is not lucky at all.

It's a bit different if it's a distant relative that you weren't close to though.

It's up to you what you tell people, but I wouldn't tell people. Or if I did I might be vague about the details, so saying a purchase is from an inheritance, but never disclosing how much you got.

Yes they posted last night asking if 100k was too little because all of the websites they're on say that 27 yr olds all have 300k, or some bollocks.

Very boring repeated post. OP if you have actually inherited any money and are so clueless that you think it's useful to know whether it's "rare" or not (why would that matter?) pay for an IFA don't keep spamming mumsnet.

I would say that yes, £100k is unusual at 27.

How kind of your Mum to share her inheritance.

Personally I would not tell people details - it isn't their business and people tend towards a bit of envy, or even if they don't ask to borrow money etc think 'oh PlumBalonz can afford it' and leave you to pick up the bill etc.

Are you planning on an especially flash or expensive car?

Think carefully abut how you best use this money for your future. Are you in a position to get a mortgage if you buy a house or flat?

Yes, beneficiaries of a will can gift part or all of their inheritance to anyone they wish.

But having a deed of variation drawn up means the money is treated as though it had been left directly to the recipient of the gift.

A gift of £100,000 to an adult child exceeds the UK standard annual gift allowance, which is £3,000 (or up to £6,000 if you did not use the previous year’s allowance).

Instead, the future IHT tax status of a gift of £100,000 may potentially be tied to the 7 year rule. If the parent dies within 7 years of making the gift, the £100,000 is brought back into their estate for evaluation for IHT.

The better plan would have been for the executors to approach all the beneficiaries of the will and obtain their agreement that a deed of variation is put in place in order that £100,000 of the £200,000 left to the mother could be paid directly to the OP.

That way, the OP receives an inheritance which is not potentially subject to the 7 year rule, as it is treated as though the original will had left the money directly to her.

The OP has not received an inheritance from a "distance relative", she has received money gifted to her by her mother.

A deed of variation can be applied retrospectively within two years of a death.

For more information:

https://www.moneyhelper.org.uk/en/family-and-care/death-and-bereavement/gifts-and-exemptions-from-inheritance-tax

https://www.gov.uk/inheritance-tax/gifts

Most would inherit later & many inherit less than that. Although as pp said in certain circles it’s normal to receive a lot of help at a young age.

Because OPs posted about this before.

The posts are always about wanting someone to tell them that yes, 100k is a lot of money and yes, they are better off than most people their age.

I see. I think her time would be better spent educating herself about inheritance tax, redirection of assets, and the financial advantages of deeds of variation.

Op, I mean this kindly (as a mum of two children with autism and adhd), but how good are you at reading people’s body language and telling if they’re manipulating you. I know that some autistic people are better at this than others.

i would say don’t tell anyone about the inheritance. If they ask about the car then savings is a good explanation or even that your mum helped you out with the car as both are largely true.

Tell nobody at all. It's not their business.