how would you! divide money btween 2 DD 1 GS

Hello biker gran, I'd say give both DD an equal share and the rest to gs..they are all separate people in their own right and just because one has a son, doesn't mean she should get less from her own Mum.

lots of interesting thoughts....(not that I have any money to give) at the mo..and no doubt by the time I need care..the government will have made sure they have us all by the short n curlies and they won't be any left to leave!

I know it is your money to do with as you want . Just as any money I may have is to do with as I want. However, and I just say as a child who has not children with a sibling who has a son, giving money to your children and including extra to a grand child ( or more than one) is something that will likely lead to ill feeling.

I know it soundschurlish but I have been on the receiving end of this and feel very much that I have been disregarded in favour of my brother just because he sh*hgged and irresponsibly fathered a child. One he couldnt even affeord to keep. My parents have paid for him and the child all their lives.

I didnt have children because all my life I have never been able to afford them. I have worked until I dropped.

I doubt there will be anything left and doubt much will come my way - although I am the one doing the caring right now (my mother has become ill recently). Much of my mothers inheritance came from my elderly and childless aunt anyway. She gave everything to her sibling
(next of kin). Nothing to any neices or nephews or any great nephews.
At least she wasfair in her dealings.

Just think please. Divide your spoils equally. Yor children will believe you loved one more than the other if you give money to the offspring of one such that it favours one of your children. Its hard to think anything else when you are on the receiving end. Truly

Its your money but just think about it.

It's a minefield, because circumstances change. I am one of four girls, with a much younger stepbrother. (not my mother's) My mother and stepfather decided many years ago, when all of us four were happily married to wealthy men, to leave half of their money to my stepbrother, and divide the remainder amongst the four of us as we were all provided for. We were all very cross at the time because it was mostly our father's money that was about to be divvied up. Move forward twenty years and all four of us are broke and struggling, stepbrother has become a male model and is wealthy. So we are now really angry because stepbrother is not even in contact with his father and yet could inherit our father's money. We wish they had just divided it equally amongst all five of us.

My husband's family are far fairer, all money is left equally to the next generation on all sides of the family. They then choose if they wish to pass some down through the generations.

I have a friend who I think is behaving appallingly. She is due to inherit her mother's house, because she has ME and isn't married, so her mother is worried about how she will live. Her sister, who is married, will inherit nothing. but my friend knows that her sister would love to leave her husband but can't afford to. And my friend has a partner who she passes off as her lodger so that her family won't be suspicious. Who has just inherited his own mother's house.

That's exactly what we've done, Petallus. One of our children has three, and the other, two, children. We've willed an amount to each child, with the remainder shared equally. Seems fair to me!

Must be like the touch-pad on my PC. It's turned off, but the GC still manage to use it...

I thought I had too Ana.

One of my daughters has four children, the other daughter none. I intend to give a certain amount to each of the grandchildren and then divide the rest between daughters.

It is possible to provide for unborn grandchildren in a will by the way.

50 -50. both daughters get the same. Any other solution will cause bad feelings after your death. Your GS will get the money from his mother eventually. What if other GCs follow and they have not been provided for?

I thought you'd turned predictive text off, jingle

j08 are you ever going to get to grips with your 'sodding fire'?

I ask in a spirit of innocent enquiry!

#sodding fire actually

Not CD. DS. #fire

CD reckons we should give them an amount each month out of income, as that would be exempt.

No way Jose! #keeping it. #lunches

Here is a page about gifts and tax. You are right, it is inheritance tax which is not due on the up to £3,000 a year, but there are other ramifications to giving money to your family too.

I think you should do what you like! Don't be influenced by others, your circumstances and those of our DDs are different to all of ours.

Still £3000

Elegran - no idea but it must be to keep a record for IT purposes - it's not for income tax reasons

Also if you haven't given any in the previous year you can double it. I'm sure it's £3500 now so you could give £7000to DD with child and remainder to the other and still not cause them tax problems.

So how come I can claim £1,000 gift per person up to £3,000 in a tax year on my tax return?

Yes pet you are right - the £3000 doesn't count towards the overall IT limit. You can if course give away as much as you want over £3000 but that will count for IT purposes if you don't survive for 7 years afterwards.

I always thought the 3000 was an inheritance tax limit, not an income tax one.

You are right, Jendurham it is only £3,000 total. There are other ways you can give money away, too, which would be worth looking at.

That's wrong, I think.
Each person can give away £3000 taxfree in each tax year.