What would you do? Will question..

[mistymirror]

What is the reasonable thing to do here in this scenario…
Father has 3 children, 1 from first marriage, 2 from second marriage (still married).
Own house with 2nd wife worth around £400k.
Own another home that is rented out bought by Father’s Mum who left it in her will to him. Worth around £220k.
Will currently states that both estates will be divided 50/50 and then wife’s 50% goes between 2 children and Dad’s 50% goes between 3 children.
This is the case also for the rented home that was owned by Grandmother of all 3 children.
Obviously no matter how it’s divided it’s fair because it’s up to the person making the will but my question is what is reasonable and if you were the Dad in this situation what would you do?

It would depend on whether the first child was likely going to inherit from their mother too. If they were, then the split you have described is fair. If not, as the father I'd do 1/3 each.

The problem you have is that if dad dies first, surviving wife can then do whatever she wants and essentially disinherit the first child.

I don't really understand your 50/50 thing. The only way for the dad to ensure his kids (especially kid 1) inherit is to leave money directly to them, and if part of the estate is a property then leave the wife a lifetime interest (you can do this with money too, she can have the income if it's in a trust).

How old was the father's first child when he entered into his second marriage? Has that child lived with father in second marriage, or with child's mum?

So if Dad dies first it doesnt go to mum, i is split into 3?

Sorry no it is a mirror will so will go to wife if he dies first.

1st child was 2 when he married 2nd wife and stayed with Dad every weekend until 18.

So in that situation the wife could leave it all to her kids and cut the first child out completely?

Essentially the 50/50 thing is a red herring. Wife could cut first child out of the will if Dad dies first.

@Funkadoodledoo yes but there is confidence that this won't happen.

Yes, like my friend had confidence in her father’s second wife (who was apparently like a mother to her) not to change the will. He died. She told my friend everything was going to her child (not even his), and friend and her brother got nothing.

Get things put in trust with life interest for people living in houses. It’s the only way to be sure.

Second (from his mum) home gets split 3 ways between all dc.

Current house - needs to be split legally so that when one dies it DOESNT go straight to the other person as there is no telling what the 2nd wife will do with it. Once split, he can will his share to the 3 DC with lifetime interest to the wife to stay there. Wife can split her share 2 ways when her time comes.

I think this is what my dad and stepmom have done with me and half siblings.

I'm the second wife and I have two children. There were two children from previous marriage.
When he died I got the house, which I paid the deposit on and he paid the mortgage. The mortgage was not insured so when I sold all the equity was from market increases.
His life insurance was shared 75% to me, the rest between his ex and first two children (who were young adults, one still at uni). His ex already owned a home bought outright as part of the divorce settlement plus various other pensions and investments she got on his death - as much as I did in fact including my share of the life insurance (but not the house). She did not work while married.
I am leaving a small amount in my will for my stepsons, but because they will inherit from their mother I see it as totally fair that me and my children got the equity from the house. My kids were very small after all. The older kids have not been disadvantaged in terms of lifestyle or inheritance.
So what is the situation with the mother of the first child? Will there be some inheritance from her?

What else would the dad do? Give more to his child? What’s been suggested is completely fair. Within most marriages the home that he inherited is not his but their joint asset so yes it’s also hers to divide as she wants.

But I would say after saying that is fair that in a very similar set up DH and I have agreed that money will go between all 3 children equally in the interests of preserving sibling relationships as once we die I don’t want there being fall outs because one feels unfairly treated

Thanks all for your feedback it is much appreciated.
It is very hard to say how much 1st child's Mum will leave exactly but I would say child is set to inherit around £100k from her approximately.

Not if the father leaves only 50% of the estate to the wife and the other 50% directly to his three children.

Depending on jurisdiction this could be done in such a way that doesn't give the 3 children the right to demand the sale the house while the mother is still living in it (e.g. in Scotland there's something called a "life-rent", in other jurisdictions there'll likely be something similar but with a different name)

OP has already confirmed that it goes directly to the wife if he dies first. So his wishes could be ignored when she dies (depending on her).

I think in situations like this, it needs to be tied up legally.

Thinking only in terms of fairness (i.e. forgetting what can/should happen legally) I think what would be fairest would be:

• The home that was inherited from the Father's mother should be split equally between his 3 children
• The father's half of the home that is shared by the father and 2nd wife should be split equally between his 3 children
• The 2nd wife's half of that home should be split equally between her 2 children

I think that the bit I've bolded is the only difference between what I consider fair and what's currently in the will

So at current values:

• Each child inherits £140k from their father (⅓ of £220k, plus ⅓ of ½ of £400k)
• Child two and three additionally inherit £100k from their mother, giving them £240k each in total (½ of ½ of £400k)

Even if that trust in wife is well-placed, the children inheriting directly protects them from the value of the house being swallowed by care costs, or her falling for some catfishing attempt, or....

If you value your life or your reason, don’t have ‘confidence they’ll do the right thing’.

Have a lawyer.

Mine is set up this way:

my assets go to my kids, in trust until after dh dies. This means he won’t have to sell up, be left homeless etc.

dh’s assets split between his kids. As the house is mine and I am financially independent it goes straight to his kids.

Life interests/trusts are definitely the way to go here.

Father leaves inherited rental property either directly to the children, split 3 ways, or a life interest to the 2nd wife to receive the rent (with obligation to repair/maintain and insure), and then on her death it goes to the children.

Rest of the estate, father and second wife declare tenancy in common in equal shares on the property, and then each leave the other a life interest in it. On the death of the second, the property is then split been 3 children for the dad's share and between 2 for the 2nd wife's.

Mirror wills are not a reasonable way of doing anything, because the will can be (and often is) changed after the first partner dies, making the "mirror" part completely pointless.

Plus, you want to carefully word it so that the equity of the properties is protected as much as possible in the event of care home fees being needed - again, consult a lawyer.

Thanks everyone for your advice.