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Original poster

Inheritance

10 replies

WizdomE · 03/12/2022 09:11

Mum purchased a flat for £150k, some years ago, and after some years of rental, gave me and my brother £50k each as a pre inheritance and then gave the flat to my other brother (as he had no where to live).

many years have passed and my other brother had remortgaged the flat and frittered away £80k of money (card, holidays etc)

mum paid off the £80k mortgage (& gave me and my brother £80k each). With strict instructions that the flat was not to be remortgaged as it was intended as safety net for my other brother, and hopefully an inheritance for my other brothers son (mums grandson).

well my brother has fully remortgaged the flat and spent the money this time on renovating another property (that is also heavily mortgaged). Mum does not know.

we know how irresponsible our brother is with money and he is constantly in debt.

do I tell my mum? I’m worried she will give him more pre inheritance money, which will also be wasted. Note, this is not about me getting more money… but maybe she would be better giving inheritance to her grandson instead. But you know how money issues can divide a family so I’ve kept quiet. What are your thoughts and why?

OP posts:
Overthebow · 03/12/2022 09:15

She gave the flat to your brother, as in its in his name now? If so it’s none of anyone else’s business as it’s his flat and he can do what he likes.

DuchessOfPort · 03/12/2022 09:20

I’d stay out of it - if she gave him a flat, it belongs to him. If he loses it through his own doings then he does. If she wants to give him more money when she finds out then it’s her money. He caused it all, just try to detach a bit if you can.

StickyCricket · 03/12/2022 09:23

If the flat is in your brothers name he can remortgage up to the eyeballs if he wants, and none of his family can do a thing to stop him.

This will (should) have been made clear to your mum by her solicitor who dealt with the legalities of signing over the property, she doesn’t own it now, she can’t put conditions on it.

SunshineAndFizz · 03/12/2022 09:27

Is the flat fully in his name? Doesn't seem very fair he got a flat worth £150k and you guys only got £50k each (a third of the value of the flat)?

How do you know he remortgaged it?

RandomPerson42 · 03/12/2022 12:09

Clearly your mum isn’t interested in treating you all equally, nothing you can do though, it’s up to her.

I’d be more inclined to tell your other brother first as it’s meant to be for his son?

crussont · 03/12/2022 12:11

Preinheritance counts for shit all. Anything she gifts is a gift, and they can do what they want with it no matter how unsavoury that is.

Bard6817 · 03/12/2022 12:13

I’d let your brother know. Then the two of you decide together if mum should know.

messybutfun · 03/12/2022 14:41

I can see what your mother was trying to do. The solicitors should have advised her about trusts but obviously it’s too late for that now.

Testina · 04/12/2022 00:31

Your mother makes pretty stupid decisions. Do you think she will change?

Sunsetintheeast · 04/12/2022 08:07

Don’t tell her, it’s nothing but worry as she can’t stop him.

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