How best to share out an inheritance with nieces and nephews not included in the will?

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A few years ago, a relative died and left quite a nice sum of money to each of my 2 children (as well as some for me and my siblings) to use for their education.

But since then, we have had another child, one of my siblings has had three children and the other is planning to start a family and I think I ought to share the money out. But how can I make it fair?

I thought about giving my siblings one third of it each, but this won't be equal if we don't all have the same number of children. Or I could wait until everyone has finished having babies and split it evenly between all the cousins. There is also the question of wealth in each family as the existing cousins have quite well-off grandparents and the future ones won't have (and nor have my DC). But that makes it all v complicated.

Any suggestions?

I am assuming that you have already paid inheritance tax on the money? So any redistribution now, would be YOU gifting away your childrens inheritance tax free so to speak?

It is not fair on your own children, sorry.

Any guilt you have for your own dc3 you will have to handle by investing from your own money/salary for him/her.

Like I am assuming your siblings have done for THEIR children? Assumably your siblings have inlaws which may leave an inheritance for their children/granchildren. Will you expect to get a chunk of that money some time in the future? Will you be disappointed if you dont? What if your siblings kids stand to inherit more than your own children? How will you feel if you have given your childrens money to your nephews and nieces and at some point in the future they are left money by other relatives?

I think you ought to respect the wishes of the will.

My oldest son inherited XX k from my uncle. My youngest son was not born. I am putting aside money every month for ds2. Later on, I will have to try and even out the difference myself. But in my view, those XX k is for ds1. He was loved by my uncle.

My parents have 2 daugthers. One a single mum of 1 child. Me, married with two children. Should I expect MORE inheritance just because we are a larger family? No, of course not!