How can I divide my estate fairly between daughters and grandchildren?

[Ilikesundays]

Would really appreciate your views! I’m in my 80s and have three dds and 7 gcs. All are over 20. Two dds are married: one has 3 DCs and one has 4. Youngest dd is unmarried and has no children. I want to make my will and be fair to all of them. I was thinking of leaving all my property (f/h house, no mortgage in London + fairly substantial savings) to the gcs + the unmarried dd and nothing to the two married DDs. But on reflection this seems very harsh and unfair to them . How would you manage it? They are all working, bar two gcs who are still studying p/g.

I’d split it equally between all three children. I’ve received some money when my grandparents died because my parents chose to.

Split into quarters, 1 to each child abd the rest divided equally between any gc.

That’s what I’m going to do. That seems to be the consensus of your suggestions and the fairest way to do it. Thank you!

On the other hand, the grandchildren (but not the daughters) have already benefited from an inheritance (the OP's parents including their great-grandchildren but not their grandchildren).

If you can leave the bulk to the three daughters equally but give a few grand to the GC it will be a wonderful bonus for them at a lean ££ time in. Their lives.

A lot of people dont include grand children but if you wanted too, you could leave your GC a set amount like 5k and then the remainder to your 3 dds . Your GC will inherit from their own parents one day and are likely to benefit from your inheritance through their parents anyway.

It’s your money so you can do what you like.

i think the age of the DC and DGC is relevant. Given your age I guess DC are in 50s and DGC young adults? So unlikely that any extra DGC come along at this stage.

I’d be inclined to leave a substantial amount to each DGC (same amount) and split the remainder three ways between the DC.

But that’s assuming you would get most satisfaction thinking your money is helping set the young ones up in life. Maybe your family has other needs or you have other preferences

I'd give each grandchild a specified amount e.g. £10k. Perhaps also give a personal bequest to each daughter/grandchild if you have jewellery/art or similar that would be of sentimental value. The remainder 1/3 each to your daughters.

My husband and I are both one of two siblings. Neither of our siblings have children.

My dad has a 50/50 split between me and my brother
My mum has everything to my brother as she thinks he needs it more
My in-laws have a 25/25/25/25 with their kids and our kids. They haven’t told their daughter that she’d been disinherited for failing to provide grandchildren.

The only one that isn’t going to cause a bit of upset is my dad. And I’m not making a fuss about my mum / her money, her choice. But it does upset me. My sister in law will be enormously angry if this comes to pass.

Very sensible, especially since the GC have already inherited.

I agree with this. Maybe a small ish fixed bequest to the grandchildren.

This is how my grandparents did it, each grandchild got £1,000 or £3,000 depending on which side, everything else split equally between theor children .
The children all had very different financial situations but I really think equally is the only fair way

It is difficult to determine what is fair - we have an aged mother who plans to leave 10k to each grandchild (of which there are 5) and £5k to each great grandchild of which there are 5 with remainder split equally to her three adult children inc myself. Trouble is that I have one child - one of grandchildren and as yet not great grandchildren so my decedents share is just £10k whilst sisters are £30k and £35k. This actually means that there will be little to divide between myself and my siblings.

This. The bulk should be to your three daughters equally. You never know what their futures hold, even if they seem relatively well off now.

I've heard of people doing this in case the dd gets divorced and excitement gets part of inheritance in the divorce.

Either split 4 ways- dad's get 1/4 then last 1/4 split between gc, give just to dd's but state % to be split between gc, state everything is split between gc only.

Divide all main assets between your three DD. If they have children they pass on what they see fit then your children are equal.

If you pass some to DGC then the DD who has yet to have children her future children will miss out.

I would leave small personal items (not main jewellery) to DGC and also additional to DD with no children so her future ones will too.

you need to be careful not to leave out the current childless DD as could easily make her feel less.

Divide 3 ways between your 3 daughters. They will pass on to their children when the time comes or they will fund their children with the money as and when needed.

I would leave it all to your daughters in an equal split. Then they can make their own arrangements in their wills for DGC.

My grandfather left most of his money to me and my brother in trust, on the basis he had given my parents enough money to buy a house outright, so they never needed a mortgage.

It caused nothing but resentment from my father, who thought his father should have left everything to him - he was an only child, and his father was a widower.

To end it, my brother and I agreed to break the trust in our early twenties, and split it three ways - me, my brother and my father.

Wills can cause a lot of ill feeling in a family - my great aunt and another relative didn’t speak for 60 years, over a will. It’s not worth it, and my advice to anybody would be - leave it to DC equally! Circumstances can change - what if something happened to your married DDs? Like their DH left them for a OW or DH became disabled and needed full time care from them?

Leave a third to each daughter and leave a letter of wishes telling the two with children that they can do a deed of variation, should they wish to pass some of their inheritance directly to their own children. You can also indicate preferences regarding possessions of little value in a letter of wishes.

If you dont leave a will the intestacy law kicks in. I would list any separate bequests to friends or charity then split 3 ways betwren your children. Its simplest way.

You cant leave 2 of your children out. I would give each grandchild the same amount (eg 10k/20k) and split the rest equally between your children. I wouldnt rely on the children to give money to your grandchildren. My grandmother left me money through my parents and i never saw a penny

You divide equally between those who you have decided will inherit from you. If you leave anyone out you can explain why in a letter your solicitor can draw up. And please do your Will via a Solicitor.
You can never look at someone’s circumstances as they are today and assume they will be the same in five years time.
Businesses go bust, people get divorced. People sometimes get an inheritance from elsewhere, or even a few win the lottery.
Just divide it equally. Regardless of their situation.

Ewuslly between your children. Regardless of their situations now no one knows what the future holds. To avoid any resentment it must be split equally. You want your children to be friends once you’re gone!

25% to each of your daughters and the final 25% split equally between the grandchildren, then if their mothers want them to have more it is up to her. You cannot plan for any Grandchildren that may come along after you die. You have to be absolutely fair to your 3 children no matter what their circumstances.