Inheritance -Family money?

[ZekeZeke]

Example:
Married 25 years, no mortgage both work.
2 adult children in University still living at home.(both working part time).
Widowed MIL dies. DH inherits £200,000
Is this family pot money?
DH Money?
DH and DW money?
DH ans DC money?

What a horrible passive aggressive post.

In our marriage, DH and DW joint money.

Although inevitably, a good chunk would probably end up being spent on the dc or with them in mind anyway. But definitely joint money.

We've always treated inheritances as family money, but with the direct beneficiary having the option to buy something as a reminder of the person who left it to them. In our case we used money my Grandma left me to extend and redo the garden, plus I bought myself a necklace. And when DH's Grandfather died a number of years ago his inheritance paid off a chunk of the mortgage.

DH and I have been married for 20 years, it would be family money and go into the family pot.

It would be joint here, although with the mortgage paid off and young adult DC I imagine we'd be putting most of it aside for them unless our pensions were dire.

I wouldn't be pressuring DH to do anything he didn't want to but we're usually on the same page anyway.

I’d say it’s DH and DW’s money but whoever’s parent it was who died gets to lead with what to do with it.
As you have no mortgage I’d be putting at least 50k each for the kids towards a deposit when they finish education.
Do you have good pensions lined up?
Could you take some unpaid leave each each year and have some extra holidays?
It all depends on your circumstances really.

If you share finances it's family money in my opinion but I'd encourage to buy something physical that he coveted buy normally wouldn't be able to afford as a momento eg a music system, a watch, something that lasts ... and perhaps a family holiday and you can at least metaphorically toast her

Well, I mean technically you didn’t earn your inheritance either.

It would be joint here. If I came into that kind of money what exactly would I spend it on to only benefit myself anyway? It's not like getting £100 and buying myself a treat just for me, at that scale it's mortgages and holidays - both of which benefit the whole household.

Exactly that and even at 5 years plus

It is DH's money but you are a team.

We've never have and never will get a windfall like that as mum dies, dad remarried and had young children, I said leave it to them. My OH did not get on with my in-laws and the in-laws were advised they dont want anything. We've always stood on our two feet and have given xxx amounts to our children to make their lives easier, all being well, the properties and moeny are earmarked for our grandchildren

We have soon after marriage had joint savings, mortgages, life insurance etc etc. When we both left work early retire at just over 50, we decided to make our current accounts joint. Always a risk with this as anything, but we trust each other and we are a team

The windfall, IMO, DH has a 1% advantage over you but like us should consult and agree the way forward when splashing out on new cars, tv's, giving money away etc

Quite. All our money is family money, that's what being married means. It's in the vows we took nearly 40 years ago : "all that I have I share with you".

DH inherited 75k 25 years ago. I inherited 350k 5 years ago. Into the pot it goes. Quite a bit has already gone to the adult children or been used to support me bringing up our autistic son.

I will be very delighted if we ever get any inheritance - step father in law , house on husband name and his brother yet how this works not sure. So if my husband gets any money, he knows I am all for our child to have everything I never had. My parents gave everything to their firstborn son, so I wish my daughter to inherit as much she can ( hopefully puts it to good use )

Really odd view. The whole point of getting married really is to create a new family unit, to share everything, to create a new combined unit. How far do you carry it on with views like yours? You could end up with long lines of families only keeping money for themselves on either side. You could end up with Great great great grandparents where one of them has a load of money from their side and the other has nothing….

All our money is family money, that's what being married means

”All our money is family money, that's what being married means to us”

there corrected that for you. You don’t get to dictate what marriage means or sit in judgment of others marriages.

In our house this would be family money. We're a team and we each put everything into the family pot and trust each other. There would be discussions around what to spend it on as well.

Shocked at those coming on and attacking, be it passively aggressively (we are a team us) or blatantly. As long as it works for the couple in question. Why have a go?

Same here, although not married. We seem to be an oddity on MN though.

Family money. Same as the money PIL gave us when they downsized a few years ago and the £3k my parents give us every year as their IHT limit.

Neither of us would ever consider it anything else.

I perhaps controversially agree with the view that if I were to inherit (or if my DH did) then the money would be our sole money. I would put some in to joint pots, and do things for the family, as would DH but I would have NO expectation that his parents / grandparents money would suddenly become mine. And vice versa.

My view comes from 2 separate experiences, within my own family where both times the "family money" has fallen into the wrong hands due to divorce and re-marriage. With no money left to the original children / blood line.

I will be set to inherit much more than my DH will. We will "share" some of the money both sides but predominantly it will be the person who inherits it.

We would probably split the money between DH and DW but DH would get one extravagant item such as a new guitar or something of similar value. The rest would go into house improvements, a nice holiday and the mortgage. Seems like a nice problem to have, though.

Shared pot in our house, however whoever actually inherited would have a bit more say in what it was spent on (within reason).

We have joint finances and now both roughly earn the same. I think it would be Husband money or mine if I inherited. We would both though add it to the family pot but would make sure he took a chunk to buy himself something and he would say the same to me.

Though we don’t expect to inherit much from either side! Unless there is some rich relative we know nothing about!

I viewed inheritance from my parents as family money. It helped pay for my children’s house deposits and the rest was family money. We are retired now but money has always been seen as ours rather than mine or his.

DH money to do what he wants with/give to whom he wants.