What would you do

[do1covid]

So ....
Cutting it back I rent from council with 2 children... I can not afford a deposit to buy.
My partner is a home owner who has a 18 yr old living in the owned house. His ds pay the bills for that house.

Partner has moved in with me. Sharing household costs.

Partner is planning on selling his house and buying ds a property outright. Then having the remainder as a cushion for us.

Partner is probably too old to get a mortgage with me, i don't earn enough to get a mortgage.

So the likelihood is I will rent for the rest of my life , which is fine as I never thought I'd meet anyone to get on the ladder ...
However, I've been thinking, when my parents die the house gets split 3 ways I was going to suggest they give my share to my two children to at least give them the stepping stone I can never give them in life , I spoke to my partner and got frowned by this ... but I thinking'hang on you are buying your ds a house outright'

What's your thoughts

Unless your parents have substantially more assets than just the house they live in, I wouldn't make any forward plans for that money as it could all be swallowed for care costs. I certainly wouldn't mention it to your children. I can see the benefits of wealth skipping your generation though and going to your children, assuming you have a lifelong council tenancy and can afford your own old age.

Why is your partner buying his DS a place outright and just has a deposit for your property together, instead of the other way round? I can understand wanting to help dc but surely it would be better for you & he to buy?

If you split I presume he would move back in with his son? He's basically making sure you and yours don't get any access to that money. But seems funny about there but being money available to him if your parents go. Is he a cocklodger in the making?

He sounds like he will financially abuse you overtime.

I think it's circumstances, his wife died some years ago and the house was paid by insurance so I think he wants to give son a start in life so basically letting him have 'the money' before he dies ... there will be remaining money but not enough to get us on the ladder together, but I think I will ask my parents to give my cut to my children. That way at least they have a start in life that I can't hand down

It’s your parents‘ decision what they do with their money. So you have nothing to debate with your partner.

As a PP has also pointed out, there might be nothing left once care costs are covered, anyway.

You are not married to your DP

If you inherit anything, that is yours to do with what you want whether that is property, savings or other assets

Do you have a pension ?

Do you have a will ?

Ensure that you look after yourself first, before planning for others