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?

This!
OP should be thinking of how to give the money back! Not moaning about inheritance!

£700 was how much my parents were saving for my kids each month. Not sure exactly how much comes back to my brother via bond. I assumed it was there or their abouts.

They have nothing because their business went bust. Not because of the brother.

I think that some people are missing the point that the parents have debts and CCJs so probably can’t find a landlord to rent to them. Brother is earning big money so can rent a property in his name for the parents.

If the parents didn’t loan their son the money then they would have more debt and nowhere to live because son may not be able to give them £700 never mind pass the affordability checks etc

Even if he stayed in his current job, it’s madness that the parents have debts and CCJs but would be depositing 150k into their grandchildren’s accounts. Presumably the children aren’t planning on paying their grandparents back.

This. I think your parents have been very unfair in giving so much assistance to your brother without making equal provision for you.

If they'd been able to use their savings to cover the debts they wouldn't have had to take loans. Or even if they had, the amount would be 150K less than what they had to take.

Of course, maybe their business is worth a million pounds, so they still had to take a massive 950K debt, so they'd still be in the shit. Who knows?

Somehow I highly doubt that.

Parents are in Herefordshire next week with brother looking at properties.

For what it’s worth I do believe brother will stand by his word re building an annexe for them. He’s a good guy.

He hates the Middle East but going over to build up savings. There’s also been discussions about the parents going over with him but they don’t fancy it.

And you where happy for you parents who where in such an awful position they are having to sell their home to cover debts to give your children so much each month?

does no part of you feel even slightly guilty at that?

So they're in debt, with CCJs yet were saving £700 a month?

If it had been the case the 150k would have saved the business then the Op would have said so. The sole concern for the Op is that they won’t be saving £700 a month for her kids anymore

Parents are about to sell a house with no mortgage

No, according to the information we have - see my post at 14 55, citing OP's posts - he was only ever paying £700 to the parents. The airline was paying him at a rate to repay it all over 7 years but he wasn't paying his parents at that rate.

How is that relevant to what I was talking about?
PP were talking about how good the brother is, I disagree. he took a large sum of money that his parents could have used to help the business, he's morally obligated to rescue them,

If you read my post properly you will notice that I consider OP to be U about the money. However I do think she's annoyed, not really at that, but at her parents helping her brother out to the tune of ALL their savings. They were even considering borrowing against their house to fund it?

You think OP's sole concern is the £700. That's up to you.

I think to be fair I have got some figures wrong. A lot of this info is years old.

• I know the training was £120k-£150k.
• Parents are receiving a monthly figure from brother via bond
• My kids have £700 each month in savings given to them

And from your first post no equity either.

I’m also sure the bond is repaid over 7 years

OK so are they still receiving the £700?
Are you upset about the money or the fact that your parents put their hands in their pockets to fund your brother with a huge lump sum, but not you?
You think they're trying to make it right with this £700 but brother is stopping them?
How can you continue to expect this money when your parents are broke and in debt?

I missed this - yes!
In which case how are they supposed to clear the debt?
This si so confusing, it's a Saturday afternoon. CBA understand all of it.

Your parents are up to their necks in debt to the extent they have to sell their house to cover the costs and you were accepting £700 a month from them, you're disgusting

Your earlier posts suggested that your brother was paying them £700 a month AND as I understand it, that the airline was paying your brother at a rate that would repay the loan in seven years. That is much more than £700 a month so now you seem to be contradicting what you said before. Are you confused or am I?

No mortgage but debts under county court judgements, did you not say?

I understand you being pissed off your parents have spent money on your brother and not you. It's not your inheritance. It's your parents pension.

We don’t know that he’s only going to be paying £700 a month rent. That’s the amount that the parents were paying into the OP’s children’s savings account. I imagine the rents and bills will be a lot more, especially in Hertfordshire. Once they’ve sold their house, they will still have CCJs against their names. They would find it difficult to rent, I suspect, and neither will be earning as they will be retired. The brother will be supporting them to a great degree, at least equal to his loan repayments.
It sounds as if he doesn’t even want to move to the ME, but is doing so for the money, so that he can pay back and support his parents.

I don't understand why you are looking at this as your own children's right.

If anything, for the sake of fairness, you would get 50% of the reimbursed pilot school fees . If you want to give it to your own kids, fine; you do whatever you want.

The way you are presenting this situation, if the original plan came through, all money go to your own children. Why? Does DB have children and do they get anything; if no children it's a bit unfair on him.

I think as long as DB pays the parents every month the same he'd get back through the bond repayment, then all is as agreed. It doesn't matter where he gets the money from as long as he keeps to the arrangement.
If the money are used for keeping your parents housed, surely that's sensible.

Is the ME job paying so much more? I was surprised how little pilots were paid compared to my perception.