You are reading a single comment by @ChasnotRobert and its replies.
Click here to read the full conversation.
-
Plan is to live though, spend most of the money in our retirement and only pass on something modest
I agree with this. I don't think kids looking forward to a large inheritance is particularly helpful for them, aside from the philosophical arguments about it.
ChasnotRobert-
I guess firstly large needs to be defined. Secondly I think it really depends on your circumstances.
-
I don't think kids looking forward to a large inheritance is particularly helpful for them
It's getting very difficult to buy a house without help from your parents these days. I can't understand people who are happy to watch their kids rent into their late 30s and 40s but still spend money frivolously
GoatandTricycle
frankenbike
I'm quite risk averse.
Outstanding mortgage balance is £x.
Mortgage cover would pay off the remaining mortgage if either my wife or I pegged it or got critically ill. Mortgage should be gone in 5-7 years anyway.
Also, if I died:
If Mrs GB died:
If we both died suddenly then our only child would go to live with one of our siblings (she has loads of cousins around her age) and she'd be financially secure (no surprise as she'd inherit a 3 bed flat in London, our pension pots and life insurance payouts - minus IHT of course).
Plan is to live though, spend most of the money in our retirement and only pass on something modest. I think I have inherited £250 in my entire life.