Gifts to family

[Lastgig]

I will be receiving a large bonus (think banker size) next year and want to buy my niece a house.
She's been abandoned by her partner and receives no financial support.I currently give her groceries and some money. Most of my siblings and my husbands siblings children have good jobs (lawyer, singer, two high achieving medics, teachers etc).
I do feel I should do it for all of them but that would not be possible as we are a large family.
My niece is a lovely person and only wants an ex council house as she lives on an estate where she has lots of friends.
I don't want to cause issues for my niece. She's in a low earning profession.
Any advice would be welcome.

@Whatevershallidowithmylife sorry your mil is not being fair.

My son will earn more than my daughter but they get the same.

Definitely take legal advice

What about buying it and putting your name and her name on deeds either 50/50 or perhaps 80/20 to her and in your will leaving your share to her ?

I’d buy the house in your name , token rent to your niece and leave it to her in your will - it’s up to her to protect it from future husband from then on

What’s your job OP? You seem to have done well for yourself if you're able to buy someone a house outright.
If you buy a house and sign it over to your niece, then she marries, there is a very strong likelihood that her DH could end up with some of it should they divorce, or with all of it if she dies, bypassing her own children. Are you prepared for that? Do your own children have their own houses yet? Surely that should be where your priority lies.

@Soontobe60 I work in luxury goods. I am a founder of a company. It has been sold.
My niece has suggested she pays rent if I wish. I don't need the rent.
Im retiring next year so I want to sort things out. I've also been ill hence the above.

so you’re very comfortable? could you not have helped her out of the damp squalid home she currently lives in with her children before now?

id buy, she lives rent free so can save, then when i conk it… my children inherit the house

I have offered many times to help her. Her exdp is in the building trade. He has hid his money since he left. Prior to that they were OK. They weren't married. She moved into social housing and didn't really tell anyone about the state of it until now.
She knows this money is totally unexpected.
The company I co own suddenly took off and got snapped up.
My family has had its hard times. Feast and famine.

so she’s never accepted in the past but now willing to have you buy her a house?

Yes she will accept this time. I think there was money from her godmother and a peppercorn rent of the house I mentioned before. Both didn't happen.
I just can't buy everyone of my nieces and nephews houses. Some already own without partners. They will find out I suspect but as I say they didn't visit me or offer help when I was at deaths door. My family are not always very nice tbh.
My parents and inlaws are dead. I have a few cousins, they are all wealthy.

so what’s the dilemma?

would i do it when i have two children as young adults? not a chance

but obviously different for you, you’re keen and she’s keen so go for it 🤷

Yes absolutely do it. You’re not obliged to buy anyone a house so if the others come complaining tell them to get lost. It’s a really lovely gesture and great that you’re willing to help her.

I would give her a deposit and let her take a small mortgage.

I would consider the other neices and nephews purely because it wouldn't be fair to gift somebody who isn't doing well compared to the others that are working their asses off trying to get somewhere in the world. If you can do it completely in secret then that's ok, but to throw it in the others faces just to get one over on your sister is pretty nasty.

@SupportiveMumSquad I'm not doing this to get one over on my sister.
My sister refuses to help her own children. She won't even allow her own daughter to live next door to her even though it would be a well maintained rental. And cheaper.

Did you miss the part about my sister's violence?

As far as I know she wasn't violent to her children but she chucked both out at 18 due to her re marriage.
I have taken some advice and I am considering a life time tenancy. That way she always has a home.
She will inherit from three people but I don't expect that will be within the next ten years.
I wanted to give her some secruity.
The other nieces and nephews will get a sum of money when I die.

Thanks for all the advice.

The others will get a small gift. Hopefully it will a long time coming!