Posted: 5/2/2010 4:50:08 PM EDT
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Let's say that a grandparent has two grown sons. The older son has 4 kids and the younger son has 2 kids.
Let's say that the grandparent has been doing gift transfers of $5,000 per grandchild per year, so that it isn't taxed. The older son has older children, so they've received a few more gift transfers than the younger grandchildren In the interest of fairness, should all grandchildren, regardless of age, have the same amount as each other? Or should the funds be split 50/50 between the 2 sons? (ie I don't think it would be fair if one son had 1 kid and the other son had 10 kids, to split it equally 11 ways) What says GD? |
| I'd say it's up to the grandparents to do whatever they want with their money. My mom told me this spring that she just did her will and left everything equally to me and my three siblings. I have 4 kids, my brother has 2, one sister has 1 and one sister has none. She sees it as leaving it to her children and up to us to divide the rest among the kids. |
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Quoted:
Let's say that a grandparent has two grown sons. The older son has 4 kids and the younger son has 2 kids. Let's say that the grandparent has been doing gift transfers of $5,000 per grandchild per year, so that it isn't taxed. The older son has older children, so they've received a few more gift transfers than the younger grandchildren In the interest of fairness, should all grandchildren, regardless of age, have the same amount as each other? Or should the funds be split 50/50 between the 2 sons? (ie I don't think it would be fair if one son had 1 kid and the other son had 10 kids, to split it equally 11 ways) What says GD? In regards to GIVING, FAIRNESS can ONLY be determined by the person doing the giving. When it comes to getting something for free, w/o any method of earning it, or issue for establishing a reasonable entitlement, the person gaining something has NO standing in regards to the issue of fairness. A peson can give what they want to whom they want, outside of earning or entitlement, with no regards to fairness |
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Quoted:
I'd say "fair" is what the grandparent decides it is. Correct. If the GPs decides to divide it evenly among the GC, it doesn't matter which son had more children. All share equally. Hopefully there's no fight over something that is someone else's (GPs) property. I've seen that too often. |
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The people who earned your grandparents money should have a say in how they distribute it. If you didn't earn it, you aren't entitled to one red cent of it. If they decide that they want you to have part of it, well that's great. If they decide that they want to give every bit of their money to orphans, that's entirely their business. Speaking for myself, my parents raised me in a manner that I am able to function as an adult and am able to support myself. My father made a good living for himself through hard work, made a sizable amount through investments and if he decides that he wants to light it all on fire in his front yard - well, that's his money to do it with. |
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IMHO if one of the grandsons whines about fairness, then all of it goes to the other grandson that did not whine about fairness. In any event, it is entirely up to the grandparents to do whatever the hell they want to, including giving it all to the moonies.
<Darth Vader Voice On> The sense of entitlement is strong with this one <Darth Vader Voice Off> |
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What is fair is up to the grandparents. However, if it were me...............
Each grandchild would get a small cash inheritance, some of it given directly given to them, the rest in stocks, bonds, trust etc for use in college or later on in life. The lions share of the inheritance gets split 50/50 between the sons. It may just be me but baring some circumstances inheritance should not skip a generation. |
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Quoted:
50/50 is fair. According to who? How about the father with 4 children 2 groan girls and 2 grown boys? Girls have a total of 6 kids. (4 girls 1 boy) Boys have a total of 4 kids. 3 girls 1 boy) Father plans on giving only to his MALE descendants who have his last name. That is his two sons and the one sons, son. 2 daughter get nothing. 8 grandchildren get nothing. That is what he wants. He is a little old fashioned but it is his money and he can do with it as he wishes. |
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If I were that grandparent crafting my will...
I'd treat EACH grandchild as unique. EACH grandchild would be given $5,000 for every year they are short of their 18th, into a fund they cannot touch until they turn 25...except to pay college/education based expenses. if that means one brother has 10 kids and he gets 'more'...then too bad. As long as Grandchild A gets as much as Grandchild B. Then after this part of the estate is taken care of, the rest is split evenly amongst all surviving siblings. If one sibling is dead, but has children, that sibling's share is divided equally amongst those siblings, into the same funds as before. |