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.

And also get proper legal advice!

Personally I'd leave it to your three daughters equally and not to your grandchildren.

It's worth remembering that your beneficiaries can do a deed of variation of your will after you die. So if one of your daughters herself wanted money to go direct to her children (your GC) rather than herself this option does exist and can be decided at the time.

This can be helpful for IHT planning

Instruct the executors to sell the house rather than leaving a share of it to different people. Then only the executors need to agree the sale price, not all and sundry.

Token amount to GC. Residue shared between the 3 DC.

If you're in your 80's with substantial savings why wait until you're dead to help your family? Couldn't you gift your GC money now and then split your estate between your daughters?

Divide equally between your daughters

This!

My DF talked about his will and leaving it to me (married, 2 DC) and my DSis (single no DC).

He suggested leaving it to DGC only, or splitting it 4 ways, but I insisted on it being split between me and DSis, otherwise my family get more % than her.

it was all irrelevant in the end as DSis died so I got everything from both her and DF.

I would far rather have less inheritance and my DSis back. ☹️

Only possible fair will is divided equally between your three children.

Agree

This seems the most fair to me.

Split it all three ways to your daughters. It is then up to them how they divide their share with their children. Very unfair on unmarried daughter to have less just because she doesnt have children and her sisters do.

Only works if you have some sort of magic math though…

All the more reason to focus on your children not your grandchildren surely. They missed out on the trust funds your grandchildren got, and I suppose this is your children's last "shot" at inheriting whereas your grandchildren's turn will come again. I would worry less about not distinguishing between generations and focus on making sure your daughters are not disadvantaged compared with your grandchildren this time.

In my family inheritance only goes to the next generation, but quite often the recipient will choose to pass some onto their children. Could this be what your mother intended when she misses your children out of her will? That you would use what you needed but also "see them right"?

So your gc have already inherited? And your DC haven't? That's already not very fair on your child free DD. How did she react?

I would split three ways between the DC. That's the fairest, I think. Up to them what they do with it.

This

This is the most sensible thing to do. Avoids double IHT and yes, deeds of variation are simple to do, but what people say they may do is totally different to what they actually do. The grandchildren will likely be at the stage of life where they will be very very happy to receive a substantial legacy. That's why I've already given money to my nieces, it's more use to them now than in 20 years when they will be close to retirement themselves.

Grandchildren are individuals in their own right and I disagree with the amount they receive being dictated by how many siblings they have. Especially as your children are not of child bearing age so no more unborn grandchildren to consider. You might want to make an allowance for great grandchildren if your GC are in their 20s now.

This is the fairest way.

3rd / 3rd / 3rd to each child. Nothing to grandchildren. Up to their parents to pass down the wealth.
aplitting 10 ways is deeply unfair on the daughter with no kids.
i am one of 10 cousins and am very close to my GPs, but I fully expect and hope to get nothing and it’s split between their 4 children so my mum will inherit but not me. One of my uncles has 4 kids my mum only has me.

I think this is the only fair way.

You should leave everything divided between your children equally.
You could give your gc a token amount each - say 5-10k without any impact on the estate.
But the majority should be split between your children.

I think I would do this too..it seems the fairest approach

The GC already inherited from OPs mum, whereas the DD with no children got nothing. It's not seeming very fair.

Leave to your daughters and let them make a decision how to dole it out to grandchildren. I’d be mighty pissed off if my mum left a large sum of money to my dc. It’s a huge burden as a young adult. It can go to your daughters and then can put it in savings and make a decision about when it’s appropriate to offer it to help with a house deposit.

I agree with this.

My mums will states that the 3 gc get £1000 each. Everything else is split equally between DSis and I.
DH and I have already decided that our share will be divided into 3. Split between us and our 2 DS’s to help them onto the property ladder.