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?

But on your reasoning your brother gets nothing. He is loaned £150k, repays it and you then get the £150k?

It’s not about being “due to inherit”. Both my parents solely own their properties and their wills state they will go to me and my sister. However, it’s not “my inheritance” until they’re gone and probate is complete. They could both end up needing years of specialist nursing care and then there will be no money or anything could happen. It’s not mine!!

I went to a top uni and have done well enough. Parent have always had to reinvest whatever spare cash was lying around in business so I supported myself. Felt too guilty to take money.

Because it’s your responsibility to provide for your kids, not your parents’ or your brother’s.

You can't really change how your parents view this, OP - even though it sounds unfair to you as far as your children are concerned.

BTW did you realise that the REPLY button on Mumsnet is broken?
Is you want to respond to somebody, click on the three dots and select Quote.

I don't understand the original arrangement - it seems massively unfair to your brother. They loaned him £150k but then were planning to give that £150k to your children. So you/your family would have had an extra £150k compared to him surely? If his was a loan then it's irrelevant to inheritance if it's repaid in full by the time they die. You should surely then split whatever the estate is in half. You seem really aggrieved but you seem to just be back to the position you'd have been in if they'd never loaned him the money.

It was a loan though, not a gift. The brother is repaying it, so he’s not actually been given anything at all. OP’s parents were giving giving her DC money each month. So OP’s DC were being handed money, OP’s brother was repaying it, so being given zero.

How much is outstanding? At £700 a month that’s only 18 years rent. I’d assume you hope your parents still have 18 years left to live.

I wonder if your parents credit rating has took a hammering due to the debt hence the brother being the one to be paying the rent?

You don’t seem to feel guilty worrying about your parents money and your children. Are you concerned at all about how your parents will support themselves?

Team brother.

Your entitlement is horrific.

I went to a top uni and have done well enough. Parent have always had to reinvest whatever spare cash was lying around in business so I supported myself. Felt too guilty to take money.

Hou felt guilty to take it? So they offered?

It's not your parents job to set your kids up financially.

Yes...but if your brother pays their rent and bills for them, they'll have that amount of money free every month to spend as they wish, surely?

So your brother has agreed to pay to house your parents for the rest of their lives, and you are angry about this because you would prefer that money goes to you instead?

He got access to much higher earnings than he would have done without their support. At a minimum he got 150k without having to pay market rate for a loan.

That’s what I was thinking.

If your brother has to pay back the 150k @Poily then why should you and your children be given 150k?

That’s massively unfair on him.

Due to inherit merely means people with parents who have assets. Of course, if your parents are already dead or as poor as church mice there's no chance.
If you'd bothered to read my post properly I did say it was OK if the parents spent it all on themselves so surely my meaning was clear.

So basically your moaning that your parents will have a roof over their head in the twilight years of their life instead of your kids getting money in the future that they have not earned

Jeez money (or more accurately other people’s money) really does bring out the worst in people

Did they not financially support you going to university at all?

This is like one the extra pound riddle where your reasoning is out because at one point that money existed in bulk form and your parents gave it to your brother.

it isn’t inheritance, your parents have no money and they need it for rent etc which your brother is paying. They cannot afford to set up that account for your children (and indeed surely even if they did half of it would be your brothers not all of it)

having supported his dream your brother is now supporting them and paying back to the people who lent it to him

It appears this was a gift to your brother, rather than a loan

Not really, since arrangements have been made for him to pay it back by paying the DPs' expenses

As said though, I suspect it could easily become a gift, if for whatever reason the DB stops paying - and the 17 years it could take at £700 pcm is a heck of a long time in which anything could happen

My understanding of the bond may be wrong.

But I’m fairly sure the bond was due to be repaid over 7 years

So did your parents support you through the top university? then your parents helped support your brother through pilot training?

If so That is totally fair.

if you totally self funded and never had help with house purchase etc, then there is a definite golden child issue here, and I totally understand your upset. It’s still not about inheritance though. Your parents aren’t dead.

So he'll still be paying them back but 'in kind'?

That's got nothing to do with thier business folding. Why are you eyeballing your parents money for your kids?

Did you have to support yourself by working and taking out loans when you went to University?