I already have one but it's ready for a update.
Question is. I have 2 children And 2 grandchildren
One of my kids has no children one has 2 children
Regarding money. Would it be fair to give 50% of the cash to my child without kids. And split the other 50% between my other child and grandkids.
Or should I just split it 4 ways?
Half of me thinks a fair way would be 4 ways but then I think why should my other child be penalised because she couldn't have kids.
I don’t know Cayton only you can judge what’s fair if the one with no kids is poor and the one with kids is loaded would giving grandchildren some be better than giving to the rich daughter
My grandma gave all Her grandkids £10k each and all her kids 20k, yet there was a big argument from my uncle who only has one kid that his kid should have had more due to her being a only child. Btw we all made jokes saying he was hiding one 😂
Only you can judge what’s fair because only you know what your family is like
Split it between your children. That's what me and my misses have done.
Split it 50% 50% to your kids.
Then, if you have a bit of cash available now, be it £100, £1k, £2k, £5k or whatever, open a Junior ISA account on behalf of your grandkids. Or basically something that matures when they're 18.
Just 1 example of what you could do:
Who can get a Junior ISA
Your child must be both:
under 18
living in the UK
If your child lives outside the UK
Your child can only get a Junior ISA if both the following apply:
you’re a Crown servant (in the UK’s armed forces, diplomatic service or overseas civil service, for example)
they depend on you for care
You cannot have a Junior ISA as well as a Child Trust Fund. If you want to open a Junior ISA ask the provider to transfer the trust fund into it.
How Junior ISAs work
There are 2 types of Junior ISA:
a cash Junior ISA, for example you will not pay tax on interest on the cash you save
a stocks and shares Junior ISA, for example your cash is invested and you will not pay tax on any capital growth or dividends you receive
Your child can have one or both types of Junior ISA.
Parents or guardians with parental responsibility can open a Junior ISA and manage the account, but the money belongs to the child.
The child can take control of the account when they’re 16, but cannot withdraw the money until they turn 18.
To solve all problems, simply leave everything to the MM Moderators Benevolence Fund
50/50 for me otherwise the daughter without kids is losing out by no choice of her own.
Put it in your will to watch tv on saturday for
3..12..22..37..41..53.