Inheritance when one child has kids, the other does not

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What do you do when there is a family home that nobody can afford to buy out the other 3 siblings, yet you don't want to sell it to a stranger? Asking for a friend.

OK.

We have multiple homes, so our plan is distribute one to each. They aren't all the same value so that would be reflected in other distributions.

But how should the PP handle?

Distribute the wealth according to the value. Same concept

[Anonymous]

Anonymous wrote:

Anonymous wrote:What do you do when there is a family home that nobody can afford to buy out the other 3 siblings, yet you don't want to sell it to a stranger? Asking for a friend.

Then, they need to sell. Simple.

The owner wants to keep it in the family. She already bought her sister out to keep it in the family. Value went way up since she bought her sister out. I think she will leave the house to the most responsible nephew and it will cause a huge rift in the family. Aunt is in good health, will probably be here another 20 years, a sale won't even come in time to help grandnephews and nieces college. Will just cause a ton of drama.

[Anonymous]

I feel like give each *person* an equal portion regardless of the generation.

[Anonymous]

If you like your Grandchildren then you should leave something to them. Makes much more sense to leave money to grandkids to give them a start. In my family children and grandkids were all given the same amount.

I also believe that having kids really enriches a grandparents life. Due to the kids we see the grandparents much more than my siblings who do not have kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What do you do when there is a family home that nobody can afford to buy out the other 3 siblings, yet you don't want to sell it to a stranger? Asking for a friend.

Then, they need to sell. Simple.

The owner wants to keep it in the family. She already bought her sister out to keep it in the family. Value went way up since she bought her sister out. I think she will leave the house to the most responsible nephew and it will cause a huge rift in the family. Aunt is in good health, will probably be here another 20 years, a sale won't even come in time to help grandnephews and nieces college. Will just cause a ton of drama.

What?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What do you do when there is a family home that nobody can afford to buy out the other 3 siblings, yet you don't want to sell it to a stranger? Asking for a friend.

Then, they need to sell. Simple.

The owner wants to keep it in the family. She already bought her sister out to keep it in the family. Value went way up since she bought her sister out. I think she will leave the house to the most responsible nephew and it will cause a huge rift in the family. Aunt is in good health, will probably be here another 20 years, a sale won't even come in time to help grandnephews and nieces college. Will just cause a ton of drama.

What?

If she divides the house equally 3 out of 4 will want to sell, the 1 holdout can't buy them out, so I think she will give it to the 1 which will cause a bunch of drama.

[Anonymous]

She should leave it to one person who is responsible. Everybody sounds entitled. If she already bought out the sister's share, then sister's kids will get what they get from their mom. I'm the PP whose husband's grandfather left his house to 3 kids, now the uncle has no kids and no will and his share will go to his wife, who intends to leave her portion to her nephew. So 1/3 of the house goes to strangers and 2/3 is in the family. Nobody wants to spend money on repairs. Fun times ahead.

[Anonymous]

Anonymous wrote:If you like your Grandchildren then you should leave something to them. Makes much more sense to leave money to grandkids to give them a start. In my family children and grandkids were all given the same amount.

I also believe that having kids really enriches a grandparents life. Due to the kids we see the grandparents much more than my siblings who do not have kids.

Yeah, it's weird to get a windfall of money in your 50's when you really could have used it in your 20s to get out of renting.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you like your Grandchildren then you should leave something to them. Makes much more sense to leave money to grandkids to give them a start. In my family children and grandkids were all given the same amount.

I also believe that having kids really enriches a grandparents life. Due to the kids we see the grandparents much more than my siblings who do not have kids.

Yeah, it's weird to get a windfall of money in your 50's when you really could have used it in your 20s to get out of renting.

I agree. I'll probably be in my 60s or older when I get an inheritance. I'd rather the money go to the younger generation who needs it more than I do, for housing or schooling or in other ways starting their life. I'm at the point where I'm trying to reduce my own possessions.

[Anonymous]

Anonymous wrote:If one of your adult children has kids, and the other is childfree, would that affect how you complete your will/ inheritance?

Yes, more of the estate towards childfree kid, no question lol.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If you like your Grandchildren then you should leave something to them. Makes much more sense to leave money to grandkids to give them a start. In my family children and grandkids were all given the same amount.

I also believe that having kids really enriches a grandparents life. Due to the kids we see the grandparents much more than my siblings who do not have kids.

Yeah, it's weird to get a windfall of money in your 50's when you really could have used it in your 20s to get out of renting.

I agree. I'll probably be in my 60s or older when I get an inheritance. I'd rather the money go to the younger generation who needs it more than I do, for housing or schooling or in other ways starting their life. I'm at the point where I'm trying to reduce my own possessions.

Then just immediately pass your inheritance to you kids.

[Anonymous]

Anonymous wrote:If you like your Grandchildren then you should leave something to them. Makes much more sense to leave money to grandkids to give them a start. In my family children and grandkids were all given the same amount.

I also believe that having kids really enriches a grandparents life. Due to the kids we see the grandparents much more than my siblings who do not have kids.

Ummm..no. You sound entitled. Itis your job to give your kids a start.