Exciting inheritance! How to hold it?

[Lionessadmirer]

My lovely uncle has left me and my two brothers £450k each after inheritance tax (we have just sent off IHT400).

For my brothers this is life changing. And it means I won’t have to support them financially.

My husband and I have a specific long term financial ambition to do with our house. But until the time comes to action that, we don’t need the money. We are both busy working full time.

my uncle self-invested nearly all his money via hsbc and ii. Given what I say above, is the sensible thing to do the same?

lastly, how should isas be used here please?

thank you and please raise a glass to our uncle who lived well and died content.

That's my sentiment. In retrospect I can imagine that being left that amount of money is life changing and exciting. I think my thoughts were someone died for this to happen and I'm dealing with grief so I'm probably not too excited.

No, I have no idea what the OP's uncle was like. That's the point.

What a bizarre attitude to have.

Just on the off chance her uncle was a git, you feel the need to come on the thread and snipe at somebody for praising her uncle?

I think you might need to check your bitterness.

It's the commenter that has an odd attitude, judging the character of someone they never met on the basis that they had a lot of money when they died.

Not at all

As the OP is in her 50s, he presumably led a long and full life, with the intention she have this gift from him

He'd be turning in his grave if she wasn't excited by it, I imagine

What mealy-mouthed comments! That was a kind, kind thing for the OP's uncle to do and I hope he is looking down from wherever he is now and beaming with pleasure at the happiness he has brought to her. I know I would be if that would be something I could do for my loved ones on my departure from this world.

I don't see that you made a 'point '

The OP's post didn't need to go on Trending - it really does add to the pile on she has received.

I wish MN would stop doing this...the OP posted on a dedicated forum - Investments - asking for help from knowledgeable posters but she might as well have posted on AIBU once it goes on Trending.

It clearly helps MN drum up a bit of footfall at the expense of the OP, the spirit of MN has changed and MN need to take some responsibility for that.

I'd second the advice thing but try a Certified Financial Planner instead of an IFA. Much better qualified and you want someone who can look at all options.

I think if you re read my post, I have said the OP should get financial advice from an expert FA!

I was remarking that the uncle was very kind to leave his neice and nephews a life changing amount of money.

Utter rubbish!
If all the OP wanted was financial advice they’ve gone about it in a strange way.

That is such a positive attitude. If I had money to leave, I would also like it to change lives.

I see Meaningful Money has already been mentioned. I'd add looking for a Financial Planner rather than Adviser. A planner will look at the whole picture, including investments and pensions they don't manage, to enable you to meet your goals.

how very noble of you

It is unfair, you are right. I didn’t have an exciting inheritance from my father when he died and expect nothing from my mum when care home fees have taken the value of her house. However, through the good fortune of being born when and where I was, I have had a good education and have managed to earn and buy a house, which I hope to leave to my two children. They won’t get as much as the OP by any means, but it will be more than my generation got. And as a result of my focus on education, my kids went to uni and are earning well themselves.
I have found it helps to reframe what has happened (slowly) through the generations as a gradual increase in wealth, especially as my mum, a refugee, left her home with only the clothes on her back aged 17. My grandfather on the other side was actually from a rich family but he gambled and drank it all away and died in pitiful poverty, which shows you what could happen to potential inheritance too!
Would it be possible to reframe your situation from “generations of poverty” to “finally out of poverty, and beginning to lay the foundations of something more solid?”. I am sorry if that’s not possible, but I try to do this whenever our friends come in to what is obviously a huge sum of money and I know that the same will not happen to us.

Ignore the posters who are pissing on your chips re you saying ‘exciting inheritance’. It is exciting and they’re just annoyed that someone else has got something that they haven’t.

Enjoy!

I agree that a financial planner could be helpful here (maybe even Jackson’s). For anyone to give you sensible advice we’d need to know a lot more about your financial situation, plans for the money and timeline, what other assets you have etc etc.

Alternatively add that info here and people can make suggestions.

My parents grew up without shoes and grafted. That's where the inheritance comes from. Like I graft now, not just for the bills, but for my kids' futures. I used my education wisely. You probs went to school at the same time I did. We probs both had the same SMP maths books and Twelfth night.

To all these odd comments about an old person dying and leaving money - it’s not unusual. Of course the recipients are delighted! When my aunt died I had no idea what money she had. I was amazed as she lived frugally. Her personality was such that her private bank adviser told me she got great pleasure from investing and tracking the investments. She didn’t tell me about that. It’s not that anyone is gleeful about death, but it is amazing to receive money you didn’t expect. Neither is it disrespecting the dead person to be happy to receive money!

Disagree

DH will inherit a similar amount from his late DM once the house is sold off. They were ‘lucky’ that she never had to go in to a home (she was living independently until she died in her late 80s and she died only 4 months after starting to become more infirm - had a live-in carer after hospital discharge).

So while it’s sad a relative dies, it’s good they can pass on their legacy. She would’ve def wanted us and her other son’s family to benefit from it.

We will probably pay off our mortgage with some of it, and get financial advice for the rest. It won’t be life changing as we’re comfortable but it will help in a few areas (we are in mid to late 50s).

When my remaining parent died it was a consolation having the money to move on in life. Of course you prefer them to be alive, but there’s nothing you can do about it so enjoy the benefit it gives you.

This
May your uncle RIP

Why? Her uncles wishes- she can be sad at the bereavement but still excited about the inheritance surely? This would never happen to me, there is no money in my family; but I still feel able to be happy for those who are lucky in this way.

Not the point, I know, but I do wonder why you post this when you must surely realise that quite a few MNers are struggling.
(NB, dh and I are not remotely struggling, this is not about us.)

But your post does come across as crass and insensitive. Not to mention in very poor taste,