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?

The cheese has moved OP!

Your parents had a business & were contributing £700/month in savings to their grandchildren's accounts - lucky grandchildren!

Their business went bust, they have to sell their home to pay creditors & will be reliant on pensions to cover their living costs until death - poor parents! But hardly the only people with their own business who have had to take the downside of risks against the previous up-sides.

Separately, your parents lent your brother £150k for his professional training, which he is repaying & will continue to repay. While he is living overseas, this repayment will be made directly to a landlord so they can have a higher standard of rental accommodation than they could afford from their pensions.

Once he returns to UK, he will choose accommodation to ensure they have no ongoing rental costs, but somewhere with live in carers for the duration.

🤷🏼‍♀️

Missing the part where you're hard done by in all of this OP. Your kids were gifted some hay while the sun was shining. Brother is clearing his debt.

Life moves on!

I wouldn’t say I have SAD and I’m fine with spring (no bird song here yet) but I’m really not a fan of summer. I burn easily, I dislike it being light late into the night and it brings out all the anti-social idiots who spend every weekend making loads of noise sitting in the garden, getting pissed, blaring music and kicking off so you just can’t relax or sleep the same and doesn’t help when you work weekends. Autumn is probably my favourite time of the year, not too hot or too cold, pretty colours, dark at a sensible hour.

Agreed.

Disgusting, grabby show from OP.

Yes, the bigger airlines pay more than the smaller regional ones, and it depends if they’re already experienced and type rated on the specific aircraft. If they come out of flight training school with around 500 hours, the pay tends to be lower. Some pilots are lucky to be able to afford to pay for their own type rating which helps a lot. It’s mega expensive to learn to fly, double now than when my husband did it. He’s a training captain now.. Such a shame for people who would love to fly but can’t afford the training fees. I don’t know what sponsorship airlines offer now but I do know that it’s really competitive. OP’s brother is one of the lucky ones, and if he’s off to work for an airline like Emirates for example he’ll be on really good money. Hopefully he’ll be able to pay back his parents reasonably quickly.

@muggart

The reason your DM&DF are no longer paying towards your children isn't because of the new repayment structure with your DB. It's because they've got less money. If they still had lots of money then DB could pay their rent and they could still make payments to your DC.

Bizarre how the OP is ignoring this, and even more bizarre that some posters can't seem to grasp it either.

They have to sell their home to pay creditors. They will now have to rent and the OP thinks they can pay with magic buttons and that the loan repayments should continue to go to the kids.

There's no inheritance because the parents need the loan repayments to live on, it's literally nothing to do with pilot training.

Why should your parents pay your children £700 per month?

Why do you keep referring to your parents’ money as your inheritance? Do they know you have your eye on their money? What if they want to spend it on themselves?

All seems a bit seedy to me.

OP, despite going to ‘a top university’, is a SAHM. I’m not bashing SAHM’s but the OP can’t say her children are being deprived of a savings pot when she isn’t saving for them herself. I suspect she relied on that money to ensure she have a pot for their education and she doesn’t need to work but is now aggrieved about it stopping.

I suspect OP is wealthy herself anyway as it sounded like she lives in London and doesn’t need to work so will have a very healthy household income already