No inheritance because of pilot training

[Poily]

My brother is a pilot for a major airline in the UK. My parents were not able to borrow against their house to fund it so had to use pretty much all their savings. £150k was roughly what was spent.

Due to their failed business (folded just after Covid) they racked up massive loans trying to save their hospitality-related business. When they sell their house they won’t end up with much.

So I don’t know exactly how it works but some of that £150k ends up in a bond which the airline then pays out to my brother every month in his pay packet. But if my brother walks away from the airline he walks away from this bond also. It’s a lot of money. Gets paid over 7 years I think.

AIBU to think my brother should not quit his job and move to the Middle East (stupid salary) as he plans to do? He way paying that bond money to my parents.

Brother has said he will cover my parents bills. Great. Thats the right thing to do. But that cuts me out. As my parents were transferring the bond
money into a savings account for my kids.

AIBU?

He should be discussing with your parents how to pay it back if his circumstances change.

he shouldn’t not change job because you want an inheritance.

Is their death imminent with you worrying about your inheritance

Wow is it usual for pilots to have to pay £150K up front and be tied by this to the airline? Sounds horrendous

No my parents are fit and healthy. But this new arrangement means I have no hope of having anything.

@XelaM I’m fairly sure it is standing

Inheritance isn’t a birth right 🙄

But this inheritance will be stopping due to brother’s suggested set up

It's pretty disgusting that you're describing this as your inheritance rather than your parents money.

Agreed.

It’s between your parents and your brother. If they’re happy with it then that’s up to them. They don’t owe you an inheritance.

Maybe your parents will want to spend their money anyway

Your brother should be able to change jobs and do what he likes without having to think of your "inheritance"

Surely if his new job would be so much better paying, he would continue to repay your parents the same amount as he would have recieved from the bond?!

It's a loan, he still has to pay it back if he chooses not to work the same job!

What your parents do with it - keep it or give it to you / DC - is up to them, but it's still money he owes them

So if your brother owes £150k to your parents, he should pay that back in cash. Not by paying bills randomly or whatever. Then your parents can decide what to do with the money, whether let you inherit or spend it on a cruise.

Your bro should pay his debts

Ignore the question of inheritance.

Well it's your parents money. Even if they get it back, they could blow it all on coke and hookers before they die.

What do they say about it all?

I don’t know about the moving to the Middle East but I don’t think you are being U that you think it’s unfair.

This is all in really bad taste. They could yet end up paying care home fees. Your parents sound like they’ve had a tough few years financially and now you’re interfering in whatever they have left.

You parents chose to help your brother, that is their right as it’s their money.

If you needed help with funding for your career that they refused to provide then I can understand that feeling unfair, but that is different to inheritance.

Surely that’s up to the parents to decide? Maybe they’re happy with bills being paid.

I agree that your brother should repay the money.

If I were your parents and aware of what you're thinking I'd then put my own needs first.

Let’s take the fact that the 150k was your parents’ money out of it.

It’s not that unusual for companies to pay for training (eg an MBA) and require the employee to pay back that money if they move jobs.

This is a version of that, though flipped on its head a bit as he paid up front and they are slowly reimbursing him.

When you move jobs, you take the total financial impact into account. This might involve asking your new employer to take on the debt, or factoring in the fact that the higher salary means that you are still better off overall.

Your brother has a liability to your parents. That liability does not change just because he is changing jobs.

He needs to continue paying them at the same rate as before, regardless of where this money is actually coming from.

By saying that he will move from repaying the 150k over 7 years to “covering their bills” this presumably means he is giving them less money overall? If so, why have they agreed to this?

They could agree to it if course, it’s an entirely a parent’s right to cancel any debt they have to a child. But they need to think about the effect this has on the other children.

In short, if your brother’s move means your parents do not get their full 150k back, then this is a problem with your parents, not your brother (unless they are vulnerable).

I'm surprised so many posters think it's fine if the parents give the son £150k and nothing to the daughter. It may be their money but its really shit to have kids be treated so differently. The parents giving the OP the bond money was the way to even this out so I don't blame the OP for being upset if it stops.

@Poily could your brother continue to pay back the equivalent of the bond if he moved to the middle east?

That money should not have been promised to you before they passed away, but yabvvvu to be angry and squabbling over your parents money when they’re literally still alive. You say they’re in debt now with loans after a failed business, if your parents hadn’t have made choice to pay your brothers fees then they would have used all that money up anyway. They wouldn’t have sat on 150k savings while they were taking out loans and racking up debt. A lot of people don’t get the inheritance money they were expecting now society has changed with its attitude to the elderly. Now a lot of elderly people are ended up with carers or in care homes, their money and assets are used towards that in their old age. You shouldn’t have been relying on nest eggs for your own children when your parents are still alive and needing to take care of themselves, plus adult children they are still kindly trying to support.

Don’t spend your life worrying about inheritance. There are lots of reasons why you might not get any. Just concentrate on what you can do to improve your own life.

Well my brother has said he will be pay their rent alongside some spending money. And parents are happy with that. So the £150k seems to have been forgotten.

I think the long term plan is for brother to save money whilst he works in the Middle East (no income tax) and then come back to the UK and build a house with accommodation for parents.

I think my parents view this as my brother as being generous. So the £150k is very neatly forgotten about.