Would you tell family about inheriting a life-changing sum unexpectedly?

[EugenieGreen]

If you (your DH) had completely out of the blue, inherited a life changing amount of money, would you tell your parents or siblings?

DH and I disagree.

It’s highly likely that people might notice say a new car or expensive holiday and wonder where the money comes from

to then discover that you have been kept in the dark will really hurt

i can understand not telling the whole world but not sharing good news with nearest and dearest seems mean

yes of you needed a valid explanation as to why your life changes so much NO if you’ve saved and are due to retire

if you do say you don’t have to say how much so a partial yes and be boundaried about what to say if anyone asks or comments.

No.

Personally I wouldn’t tell anyone.

If dh has inherited and he wanted to tell people then that would be upto him.

Hell no but there would be signs.

Is it the norm to share your personal financial situation with family?
I'd think about why you think they should know?
Are there existing financial arrangements within the family that this will impact?

Fine to say someone has been remembered in a Will, but not amounts.

I wouldn't say, but there would be signs. Haha.

To cover up a slightly increased spending or a large maybe purchase I’d say I won a “small” amount on the lottery.

But that I’d blown it all on car/holiday/house but at least now the house is paid off yay 🥳

Which would account for having more free money each month in general as well since no mortgage anymore.

I wouldn’t

I wouldn't say a word.

Without knowing the amount its difficult, but assuming its about 1 million. I would tell them a smaller amount than the actual figure so I could gift some and spend some without having to explain where it came from. I'd probably admit to about half of it. I would invest the rest to increase our retirement income.

No I would only tell my husband.
If I told the children it would probably get out to others.

@EugenieGreen Since you haven't said which way is your opinion, so can't vote on whether you are reasonable or unreasonable, but I wouldn't - probably not at all - but I certainly would take my time in making a decision as to whether it would be obvious that I was suddenly very well off or whether they wouldn't need to guess/find out

No. I don’t know what my in laws inherited and neither does my MIL. 3 separate couples. I suspect it was substantial given spending is greater than jobs suggest in all cases. I would never ask. It is no one else’s business.

No
Speaking from personal experience

Depends how life changing. £200k would be life changing because it would almost pay off the mortgage and I wouldn't tell a soul.
£1 million, I probably still wouldn't tell anyone or would down play the amount.
Multiple millions and I would have to tell the people that I would be giving money to. I would probably still downplay the amount.

You'll regret it if you do.

for me it would only be mum,

Depends what you mean by "life changing"

Define life changing? Enough to pay off the remaining mortgage on your house, or enough to give up work forever, on the spot?

Nope. My OH was left his dad's house. He is currently fighting off requests for money and a ton of 'woe is me' and 'I may have to end it all' messages from his late cousin's son, who he's seen twice in 40 years. The guy just doesn't stop and he's asked for £25k. This time.
Even if my OH could afford to give it, it's ugly.

Nope

I think the idea of having a pause, if only to think about your own plans, is a good idea, before telling anyone who doesn’t need to know.

In my own case, I would be fine with my siblings knowing; but not DH’s - as they would certainly have opinions on how it should be spent ( at least partly on them), and have form for mooching.

Schtum! DYAC

Absolutely not. Unfortunately money changes relationships.

If you feel the need to explain any new extravagant purchases, say you got loans, new credit cards, a promotion at work etc etc. not that it’s anyone’s business what you spend your money on.

never let on you have come into money, it will only breed resentment.