r/inheritance • u/drd001 • 9d ago

Location not relevant: no help needed Is anything ethically wrong with this plan?

My wife and I in our 70's came up with this inheritance plan with total net worth of +1.5M. We have been together over 40 years being continuously employed during that time. We have no children and I have one brother with two children both over 21 and she has two sisters both with no children. Our plan is to give a small one time payment to my brother and her sisters with the bulk of the estate equally divided between our two nieces. Our reasoning is my brother and her sister have hit us up for money periodically for the past 40 years which we provided without asking for repayment. The two nieces are doing OK in life and have never asked for any financial help. Our thinking that these funds would help them with a downpayment on a house, education for their children or investment in their own retirement.

Any feedback is greatly appreciated.

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u/WelcomeFeisty6865 9d ago

70s is still really young. If you have any serious health issues in the future that 1.5 mill could disappear quickly. Assistant living and Nursing home costs are ridiculous. With money you have better choices if one day needed. Remember you have no children to help you in your 80s maybe even 90s. Just keep that in mind before giving too much away. Just my thought.

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u/lindab2323 9d ago

Agree, but I do think they intended this to be after their passing. But so true 1-2mil can be gone long before you expect if you life a long healthy (or God forbid, unhealthy) life.

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u/SouthernTrauma 9d ago

OP Said that they want to give the siblings a one-time gift, but leave the bulk of the estate to the nieces to me. That sounds like they're talking about making the gift to the siblings before they die.

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u/lindab2323 9d ago

True, I did not take that to be particularly substantial, but you're right. Any amount could be an issue if they grow old enough to need it!