Not always a nice topic to talk about.

Have you thought about how you would pass on your real property or in some of you lucky ones properties to your next generation?

What criteria would you use and if you have more than 1 child how would it be divided up?

When would you pass it on?

Most people choose to buy more expensive new launch rather than cheaper older (e.g 10+ years) subsale and you expect your children to like old condo?

Better just sponsor them the deposit when they are ready to buy lah.....

If your kid is char siew then just spend yr deposit in 1st keras fly around the world.

This post has been edited by BEANCOUNTER: Mar 20 2019, 04:19 PM

What's the meaning behind char siew here?

if (and it's high probability) i go before wifey, pass all to her. how she manages the split is not my problem.

if si beh unlucky that i live longer than her, sell all and split equally (kids will end up selling them anyway). as for when? no sure yet.

lol! char siew

I am more worried about who are going to get my watches! 🤔🤣
We have 2 girls and 1 boy. The likely scenario is I will go before wifey and thus all assets will go to her including properties. We have agreed that when she leaves later, everything will be 1/3 to each of them. Simple math and very democratic.

Let them sort out what to do with the shared properties when they inherit them. Knowing my kids I think it would be ok as wifey raises them right and they are not char siew 😂 will not likely fight over these things.

If you were as rich as my exboss, you buy two side by side bungalows in prime area for your two girls. But i told him in the end it is his son in laws that will be happy! 🤣

This post has been edited by blancpain4470: Mar 20 2019, 05:59 PM

Useless kid

Give more to the capable and responsible kid who can care for the siblings

make sure theyvhave a roof abovr their head,food to eat and all the basic stuff. other than that, they gotta work hard for it

let write a will 1st, split equally

https://www.rockwills.com

Yeap. Do not let them think that dada will take care of everything, and they will find their way in life. Bur be ready to stop them if they do something stupid, and give advice if they ask. Their inheritance should be something to compensate them for the loss of a loved one, not a windfall to look forward to, so that they can laze their 20s away

If you want to share equally np need to leave will.

Spouse will get 50%, rest of children share 50%.

I suppose if it is being passed on to you there would be a different tune no?

I don't know about you but I am moving into an older condo that my father just sold to me at half its market value as is my stepsister who took on a place at merely 1/3 its market value.

A horologist I see.

That ex-boss situation sounds quite similar to the owner of the agency that looks after the interest of the company I work for. The director purchased 2 bungalows back to back for his 2 daughters at Setia EcoPark and gave them each RM750k for ID works.

Don't think I could do the same as they'd probably kill each other.

Ahh ok, thanks.

no eh, if no will, it take longer time to claim for the asset.（approximate 9 month）

if got will, the cost to execution is cheaper + faster.

too bad it is in chinese
http://www.enanyang.my/news/20170313/预ç«...¶Šæ¸…楚越好/

I have not really thought on how I would pass on property.

My late grandparents had a very strange way of doing it.

Father's side, he gave each of his children 70% of his assets, mostly land, houses and cash, no one knew he had that much cash. The house he lived in he gave 1/3 share each to his 3 grandchildren. He also gave me his car a Morris Minor from 1952 and a watch by virtue of me being the eldest and the one that spent the most time with him.

Mother's side, he had a petrol station, 12 houses and 5 acres of land. He has 4 sons and 4 daughters. His wife told all the daughters in their custom only the sons can inherit the father's property so every single one of the properties went to the 4 sons. Oh yeah the 5 acres of land was the first to go, was a compulsory acquisition for road widening, no idea where the money went. The next was the petrol station which the 4 of them mismanaged, it was taken back by the oil company. By the 5th anniversary only 6 of the houses still remained in the hands of the person it was passed on to. On the 6th anniversary I bought over 1 of the houses from my uncle "on the cheap" as place was in bad shape and he had gambling debts to settle. I only took it over because it was where my late grandfather used to live. By the 10th year, only 1 of the original 12 houses was owned by the one who had inherited it and on the 12th year I helped my mother buy it off her eldest brother who was desperate for money from gambling debts, house was a total dumpster when I gave her the keys.

My father has different ideas when it comes to passing on property, he told my stepsister and me, he paid for us to have education and we can earn our own living, he said he will get rid of properties every year and we will have first option to purchase them off him at a discount on condition we don't sell it on for 7 years. I do hope to inherit his collection of classic cars though.

I have 2 kids, 1 is now 18 years old from my 1st marriage, I had not seen her since she was 3 years old up until recently. I told her a few days ago she is going to be getting a darn good kick in the arse unless I start seeing her do more than sitting on that arse of hers playing on the phone 99% of the time. Coincidence after that conversation she hasn't called me or come by to my house?

The 2nd is not yet a year old. I have decided at my age am too old for any more kids

As for how I'd divide it, anything I own together with my missus will go to my missus who will then pass it on to our daughter when she sees fit. Anything without her name on it 25% will go to my 1st kid and 75% will go to the 2nd.




This post has been edited by Bjorn1688: Mar 21 2019, 01:33 AM

Lol. Not a qualified horologist but do have a few that I am quite proud of 😂

This boss of mine has a daughter whom is a doctor now in UK. The younger one will be in UK too to study law. Both of them hardly need his bungalows and moneys. But such is life ... It is not fair at all ... 🙂

What Ive learnt from my grandmother and ppl around me.

She got 5 son and 1 daughter. So for each of her children will get a plot of land min 1/2 acres each at different places. She said it is easier this way than giving one plot of land lets say an acre sharing with 6 ppl because what happened to the 1 acre land beside our home.

Originally (next door land),
The Father own the land. Die, then split among the children. But that time, they havent sell it off yet. Then one of the children die. Then it split again for his part lets say originally he gets 1/4. The 1/4 splits to his children. Then what happen now is, this one acre of land is sharing with 11 names and one of them that I know is an old man that we dont know how long more he will still be here. It is hard to sell off. We have asked a few times from the owner to sell it to us for us to expand our home. Some ok, some not ok. Need consent from all of the names. Till now that plot of land just become hutan. If one of the children die, then same cycle will happen --> split among his children and make it more complicated to sell off.

The conclusion is, you decide to give which prop to which child. Easier. If money okay la can split %.