inheritance - what's fair, what's right?

[ForGladOtter]

Hypothetical (not really) situation and I just would like others' take on it:

Two siblings inherit their parents' property which is now for sale. Sibling A is married with two children and is comfortably off. Sibling B is married with one child and is less financially well off. Sibling A would like the proceeds of the sale to be split three ways between the grandchildren. Sibling B would prefer a 50/50 split with the sibling. Sibling A thinks Sibling B is depriving the grandchildren of an equal share. Sibling B feels they are having to give up some their entitlement in favour of Sibling A's children. (Sibling B feels they also have more need of the financial windfall than Sibling A. It is acknowledged that their own circumstance is not the responsibility of the other. But it does feed into how they feel about the request for the 3-way split).

I would love to hear others' thoughts on this.

No. It's an equal share between the siblings

Hilarious how grabby people are and the machinations they go through to try to get more.

it’s owned by two people. The proceeds are split between them. What they do with the proceeds are up to them. whether they choose to spend it on a holiday or a car or give anything to their dc is their business. No one else’s.

If sibling a had one child and b had two I think they'd feel differently.

Agree with this

Tbh you have made a lot of the posts and discussion here pointless by initially saying inherit. If the property has been signed over that's a bit different legally, would there be any danger of the property being needed for nursing home fees down the line? Did the property belong to both parents and both have signed it over - or plan to sign it over, I'm not clear whether this is just a plan at the minute.
Legally if both siblings own the property equally the sales monies will have to be divided equally between their 2 bank accounts won't they? What sibling A would like to do with B's money after that is irrelevant, they can't have it

They should split the estate according to the will, the executor is legally obliged to do this. What A then does with her share is entirely up to her.

The parents left it to their children (A and B) and it’s therefore for each of A and B to decide what to do with their share. If A wants to split their share between their 2 kids, fine. Doesn’t mean B has to give up their 50% share. Even if B did want to pass it to her child, A’s proposal would result in B’s child being deprived of half of their share (25% of the whole), which is unfair:

In brief: A is a CF

The wealth of the individuals is not relevant. And so even if the wealth was the other way around, it should still be 50/50 split by siblings without a doubt, unless the will says different.

Sibling A is wealthy enough to forego her inheritance and give straight to her children, and so thinks it should be split three ways. Good for her, but that's not correct. Her wealth will be given to her children when she passes. Your parents' wealth splits equally between their children. That is law, and that is fair.

There is no will or executor. OP has since said that the parent is still alive and has just transferred ownership of the property to the two siblings

I'm guessing you are sibling B. However it should be split 50/50 between the two siblings, no ifs, no buts. Sibling A can then do whatever they like with their share.

I think it's down to the surviving parent to stand firm against their greediest child though!

Call me cynical but I'm assuming that the house was transferred a while ago to deprive assets under the proviso that the parent would continue to live in it.. saying the surviving parent is now 'living elsewhere', seems to me that the parent is now in a care home and the siblings can't wait to get their hands on the money, and are now arguing who should get what?

If it is a legally joint owned asset between the two children and absolutely nothing to do with inheritance the money should be split between them both 50/50.

If the above scenario is true, then they aren't in the clear with regards deprivation of assets and it's a bit premature to be arguing over share sizes.

Eh? It’s not a question. The proceeds are split between the two siblings. Their own wealth is not relevant. Either sibling can do what they want with their half, ie give it to their kids or whatever.

Absolutely 50/50 between the two siblings who can then choose whether to give some of their inheritance to their own children.

Sibling A is a CF as she wants her family to have a bigger share of the inheritance, even though she is already better off than Sibling B.

Split between the siblings. Will be in the same situation when my dad dies, I have 2 kids and dsis has one.

Unless my dad specifies otherwise.

Sibling A is so selfish!!

@sandyhappypeople ooh good point, I hadn't picked that up. Yeah, highly dodgy if the parent signed it over and continued to live in it for a while, but did not pay full market rent to the new owners.

If "living elsewhere" means in a care home, then it is very germane how the care is being funded...

I agree, but Sib B should think themselves lucky to get 1/3. I'll get 1/5 of our parents' inheritance, which is being split equally among my sole (childless) sibling, myself and the three grandchildren (all my DCs). Not how I'd have done it myself, but there it is.

DPs split their estate between me and DB equally. No mention of DGC in the will but some had already been given items of family jewellery by DF after DM died. I gave a sum to my own DCs from my inheritance. I think DB did similar. I have 2DC, DB has 5. We followed the will instructions. It would be unfair to split it 9 ways, especially as 2GC hadn't met with DPs for the last 14 years (lived abroad with their DM).

50:50 between the siblings

If the grandparent wanted the inheritance to go to the DGC, the house should have been given to them directly.

I suppose you could argue that if both A and B are giving the money directly to the DGC now it seems unfair but it sounds like that isn’t the case as B can’t afford to do that.

I can see A’s argument that it is unfair that the DGC will inherit a different amount via their DGP’s estate but presumably they will all inherit a different amount from the parents’ estate if there is a disparity in wealth anyway. So using that logic, is A going to suggest that the siblings’ estates are split equally between the next generation too so A leaves 1/3 of her estate each to the her 2 DC and their cousin and B does the same so all the cousins inherit the same. I doubt she would want to do that 😂

Sibling B should announce a twin pregnancy

You can't alter the terms of the will with out the agreement of all the beneficiaries. My father's will is split 50/50 with my brother who has no children. I have 2 children would be so unfair to split it 4 ways. I will probably give a good amount of my share to my children but not at the detriment of my brother.

Legally and morally it should be a 50:50 split. Each sibling can then do a deed of variation (should they wish) to pass on part of their inheritance to their children. If the property has already been passed to siblings, then they can gift their children out of their share.

I would say ask the living parent what they want but as it’s already signed over to the 2 siblings I think the only fair way is to split 50/50 between the siblings and then if anyone wants their kids to have some they give it out if their share

Siblings split it 50/50 and pass on whatever they want to kids

If that happened to us then one of my siblings would get nothing at all

Sibling A: has two DC
Sibling B: has no DC
Sibling C: has three DC

It would be wholly unfair to split it for the GC - B would get nothing, C would get more than anyone

in your case Sibling A is a CF