Just after any objective opinions really.
I have 2 siblings. They are both older than me. They both own houses.
My sister got given £125k in 2005 to help her buy a flat.
My brother got given £150k in 2009 to help him buy a house.
I got given £300k in 2017 to help me buy a flat. 250k of this is owed to the bank (and will still be 250k unless I manage to pay a good chunk off)
My parents (well my dad really) has said they want to do their will and what do we think is fair.
Obviously it is a difficult situation to discuss but needs must.
They don't have a lot of cash but they do have a decently valuable house.
Let's say their estate is worth 900k after they both die (obviously in 50 years or so!)
What is fairer;
My siblings get rounded up to 300k total each (so 175k to my sister and 150k to my brother)
250k goes to the bank.
So total gone out at this point is 175+150+250 = £575
There is then £325k split evenly between us.
OR
We take inflation into account. So my sister getting 125k in 2005 would be like me being given approximately 175k today.
And my brothers £150k would be more like £185k
So should my sister get 125k, my brother 115k, the bank 250k for a total payout of £490k
Then the remaining £410k be split evenly.
I don't know what's fair or right. We aren't dictating their will, just giving our input (as a collective)
We are a close family and the last thing we would want to do would be to fall out over something like this but my sister wants inflation not counted, my brother isn't bothered and I want it considered...
Thanks for any advice!