that one child might inherit more than another....(logical people needed for this!)

[thelmasmonkey]

I'm in the process of writing will with dh but don't know if what is a fair division of assets between dcs.

Dc1 is mine from a previous relationship. DC1's father is well off. Dc2 is from current relationship.

Dh and my assets are tied into our property.

Should our property be split fifty fifty between dc1 and dc2 in event of both our deaths?
Or should my half be split fifty fifty between children while his half goes to dc2. That means dc2 stands to inherit 3/4 of estate but dc1 might potentially inherit all of her fathers.
Dc1 would inherit from her father. Dc1 will also reside with her father in event of my death. If dh and I both die then dc 2 will be orphaned and need money to help with her upbringing.

What makes me uneasy though is that there's a small risk that dc1 might not inherit anything from her father and will only have 1/4 of current estate. But if we do split 50/50 dc1 stands to inherit a lot more if her father does leave her everything.

Confused?

Yes I am aware that dcs might not get anything as estate could be used to fund me and dh in old age but l also want to prepare for alternative too.

Any advice would be great.

[thelmasmonkey]

To those who say 50/50 do they mean dhs half?

Yes, ex may leave his share to RSPCA but its more likely he won't.

Does anyone think it might be unfair that its more than likely dc1 will inherit considerably more than dc2 does as ex is very wealthy, esp if dc1 gets half of dhs estate?

[thelmasmonkey]

I repeat my half of estate will be split fifty fifty.

[Dogsmom]

If you die before current husband there's nothing to stop him changing the will to cut previous children out all together unless you get it specifically written in.

As it stands your assets would pass to him when you die and the joint will would only come into effect upon his death.

[thelmasmonkey]

OK, the question is, what should dh do with his half?
If he dies and his estate goes to me should I split fifty fifty even if ex has left all his money to dc1?

[kawliga]

As many posters have said, leave out the ex completely. The ex should not factor in your reasoning. After all, what if dc1 wins millions on the lottery after getting half the estate - you wouldn't say that's unfair to dc2. Leave the ex and his great wealth out of you and your DH's planning.

[Mintyy]

I am going to be at the receiving end of a will split like this.

My father divorced my mother and remarried when I was 14 and my older brother 19.

He then had three children with my step mother.

About a year before my father's death, my step mother announced that they would be leaving everything to their three children, just a token gesture from our dad in his will, as me and my older brother would inherit from our mother.

Well,

1. We might not. We might have to sell her house to pay for care, who knows?
   

1. Her house is worth about a third of the value of my father's house and he had plenty of other money to leave in the form of pensions.
   

To say this has soured my feelings towards my father, step-mother and half siblings is a massive understatement.

So please think really carefully whatever you do!

[ClawHandsIfYouBelieveInFreaks]

Monkey most people mean that yours and your DHs estate should be split down the middle. If DC one gets more from their bio Dad then so be it.

[NoArmaniNoPunani]

If your DH is leaving his half to dc2 then I think you should leave yours to dc1. That way they inherit equally. What your ex does is entirely separate.

[slithytove]

How does your DH feel about his stepdaughter? What age was she when he became a parent? What does he want to do with his money?

[kawliga]

It would be really strange for your DH to decide to leave nothing to his stepdaughter on grounds that the stepdaughter might inherit from her wealthy bio father.

[thelmasmonkey]

need am confused. By your calculation dc2 still inherits more. Is this what you meant?

Dh has helped look after dc1 but as she is extremely close to biological father dh hasn't had too much involvement. They are amicable though.

[thelmasmonkey]

But what if ex dies first and does leave everything to dc1?

How should will be drawn up then?

I guess I am finding it hard to discount one child more than likely inheriting more than the other.

[Applefallingfromthetree2]

Your half of the estate should be split between your two children. Your ex will make his own decision which you cannot second guess, so what your DC1 may or may not inherit from him should be left out of the equation.

Your DH should decide what he would like to do with his half of your estate, it would be nice for him to leave something as a gesture to your DC1.

It's worth remembering though that the more likely scenario is that one of you will die first. What will happen then? It is usual for the survivor to inherit the partners share.

If you died first what would you like to happen on your death? If you leave your half to the two DCs is it possible that your DH would need to sell the house to pay their inheritance?

Likewise if your DH dies first would you be happy for his share to be allocated on his death,if say this left you without a home?

[NeedABumChangeNotANameChange]

If I was dc2 I think I would be peeved my father left his half to my half sister who was no relation to him and had her own father. It would be different if your DH was like a father to dc1 but as you said she is close to her father.

This has nothing to do with her bio dad being wealthy, he may have something terrible happen and need the money to pay for carers etc.


Also you need it in your will that if you die first, and DP remarries, then dies himself that everything can't go to the new wife. There is a word for it but half your estate needs to be ring fenced for DC1.

[nemno]

I agree you split your half 50/50, you just can't do anything else. But your DH decides how he leaves his. It might be nice for you and his stepdaughter that she features in his will but it can't be expected. How much each child eventually ends up with is irrelevant imo and dependent on too many variables.

[thelmasmonkey]

I would have a 'right to reside' written in so neither one of us is made homeless.

[thelmasmonkey]

Also if dh and I die together then dc2 will be orphaned but dc1 will not. Surely dc2 will need the money for her upkeep while dc1 will be raised by wealthy father.

Yes, its a slim possibility that ex might give his money to cats but unlikely as he loves dc1 dearly.

[greenfolder]

The main issue is that there are too many unknowns. And I do see the issue with your dh. It does seem reasonable for him to leave his hAlf to his child if that is what he chooses. If he dies before you and you inherit, it is fair for you to leave it 50/50.

[YouAreMyRain]

It's really tricky. I have 3 DC and a DSD. Two of my dc have a different dad to the other one. So four sets of grandparents between them of varying economic statuses. It's impossible to make inheritance fair.

[unlucky83]

Whole estate 50:50 .
Hopefully your DCs will care enough for each other that they will make sure it is fair. Leave it up to them to decide what to do with it.
Hopefully if DC1 then inherits ££££ from their biological father, after getting half from your DH - they will do the right thing and share with their sibling.
You do need to talk to them about it, maybe write them a letter. It won't be legally binding but it doesn't have to be. Just be absolutely clear why you have done what you have.
Just because you inherit something doesn't mean you have to take it all - and if all the beneficiaries agree wills can be changed....
(You could do it the other way round and hope DC2 does the right thing if DC1 doesn't inherit anything from their bio dad.)

[kawliga]

Are your DC close to each other? Is your new 'family' a single unit? If your DH is not very close to dc1 and thinks she should look to her bio father for an inheritance and so he owes her nothing, and dc2 is also not very close to dc1 so will feel pissed off at sharing 'her' inheritance from 'her' father with dc1, then I feel very sorry for your dc1. Like many posters said, wills signal how much people are loved (rightly or wrongly) and this says to dc1 that she is not really part of this 'family' so she should look to her bio dad or nothing.

[MrsBennington]

You need to make sure your house is held as tenants in common otherwise it will pass to your DH on your death and your children may get nothing esp if he remarries after your death. if you are tenants in common you can leave your share of the house in trust to your children to protect them from this.

[YouAreBoring]

The estate should be split in half. Your half should go to your two children and your DHs half should go to his child. ie DC1 gets 1/4 plus their Dads estate (hopefully) and DC2 gets 3/4.

I would also make a plan for what might happen if you die. If your DC1 goes to live with her father your DH might end up leaving the whole estate to DC2. You may not mind this but you should at least consider it.

You don't know what will happen in the future but with the information you have at the moment it's most likely that your DC1's Dad would leave his estate to DC1.

I would keep reviewing the will.