My children won’t stop squabbling over who inherits our money
DEAR DEIDRE: THE children are squabbling over who inherits our money when we die – and it really feels like the vultures are circling.
My husband and I haven’t yet made wills and we are finding it impossible to know who to leave our home to, or how best to divide up our money and possessions.
I’m 70 and my husband is 75. We have two children, a daughter of 42 and a son aged 40. They both have children.
We live in a mortgage-free house, which is worth about half a million pounds.
Our son rents and is on benefits, but seems lazy and he has always been a spendthrift. Our daughter already has lots of money and owns a big house.
When we discussed it, both children said we should leave them the house because either the other one didn’t need it or deserve it.
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Ideally, we’d also like to leave something to our grandchildren for their future.
But what if we need care in the future, or have to move into a retirement flat?
I’m finding this so stressful and I’m disappointed by the way my children are behaving. Maybe we should just leave the house to the local animal shelter and be done with it.
MORE FROM DEAR DEIDRE
DEIDRE SAYS: Before you make any decisions please get some inheritance tax advice and then make your will.
A lawyer can advise on dividing assets and setting up a trust for your grandchildren.
Money does seem to bring out the worst in people. Tell your children how you feel about their attitude and maybe they will be less selfish.
The fairest thing would be to divide your inheritance equally. That way you don’t get into discussions about who deserves or needs it.
Contact (0808 800 2222).
