To let in-laws give us a LOT of money?

[maltharders]

My DH's parents are on the wealthy side of middle class but he has never really been superspoilt, although they helped a lot when he was at uni and bought him a car when he was early 20s.

Since then we've always been very independent, we're very early 30s, two young kids and renting while saving up a deposit to buy a house.

They recently said they want to give us a heap of money (amounts to about 50% of the value of a nice house) because otherwise it's just going to sit there and we'll inherit it when they die and we won't need it so much by then. My DH says that's aa logical argument and so we should accept, but I feel a bit bad about taking so much money. My own parents never had much money so have never given us anything.

AIBU to feel a bit weird about it? Even though I see the rationale behind it?

The nice thing about giving it as a gift now is they get to see you all enjoy it and there's no sadness attached to it. So enjoy it and your new house!

If they gift you this money at least 7 years before they die you should avoid inheritance tax otherwise you would pay tax on it if you get it when they die - clarify whether it is an absolute gift and take it!

My inlaws did this and it’s made a huge difference to our lives. It’s meant our DC attend a fantastic independent school, and that we were able to afford a far nicer house than we could’ve otherwise. They never mention it, or make us feel beholden, but I do regularly make it clear to them how grateful we are. FIL was an accountant and saw so many clients paying vast amounts of inheritance tax that he’s always been very savvy about reducing our liability when he dies.