Intestacy

[Justrying]

Intestacy- I just wondered if anyone else has been through similar and can advise? My ds is 17, his Dad died intestate, when ds was a baby, way back in 2006. Back then the spouse inherited a smaller amount and the rest went to the children in trust till 18 . This amount was within the flat that dh owned. At the time I was advised to put all ds's inheritance into our new house (we had to move), so I did. Now we're coming up to age 18 and I have to explain all this to my son, tell him about a quarter of our home will be his at 18. And face the fact that if he wants it we'll have to sell up. Has anyone here has this conversation? I'm so worried about what it might do to him, how he might react (though I know he's an intelligent and caring person, it's a big responsibility and a big deal for him to manage maturely) and how he might waste it - 18 yo boys! - I don't think that's a good age to give them this much money, but well, it's the law. 3 years after my dh died the law was changed, but too late. Any of your experiences of this conversation really appreciated. Thank you 🙏

@Justrying Sorry, no experience of this, and I suggest you post on legal instead?

Thanks @Agoodidea I'll try that

I have no experience of your exact situation but was left some money by an unmarried friend of my parents, as we're my siblings. Being only 10 we were told that the friend who we called 'Uncle' has generously left money but not how much. It was invested for us in trust and similarly at 18 we were able to manage it ourselves. Throughout previous years we had been schooled that it was our money but that it would be preferable for it to be invested in something sensible. As it happened we all invested with ISA's in the stockmarket at 18.
When I was in a position to buy a house this inheritance had grown to be a sizable chunk of my deposit.
There are many times I think of and thank our 'Uncle' for his generous unexpected gesture. I am often reminded of him when I eat certain sweets that he always got us in Woolworths at the pick and mixwhen he visited, it was his weakness.
Hopefully with some encouragement and some sound financial advice your DS could understand that this gift from his father could be the helping hand to purchasing a tangible asset. Of course he could use a portion of it to have an experience, trip or holiday that would give suitable memories of his dad too.