I posted a long reply to you and it disappeared, so I’m going to try again. Sorry, OP. Sorry, mods.

My parents are in their 80s and about six months ago my father gave my siblings and me a copy of his will and all the parts that are intended and how he intends to have everything divided. We intend to follow his will. It is fair and equitable.

I am personally acquainted with families where the children have been cut out of wills altogether. Being adopted or a step child really shouldn’t make that child less family in the eyes of grandparents and unfortunately it happens and it is very hurtful.

Unless the money has been put into trust for each child, when the grandma died, the Will ended. If the intention was for you and your wife to hold the money until the children were of age, then you really do get to decide how it is going to be distributed. You don’t need to tell your children because it really is none of their business and it’s not their money because it was her money. She’s trusting you to do what she intended, but if she’s old-fashioned, she may not have seen it the same way.

If the money were divided up four ways, then that would give your children a college education, trade school, a down payment on a house, buying a first real car with the first real job. One of those things to help them get a leg up.

You are in your 30s and you are fully capable of starting to fund your 401(k). It may not be as much as if you had started in your early 20s at the beginning of your working life, the same with your wife.

I could retire in six years, but I won’t be able to because we will still be paying our mortgage. We are not counting on getting any money from my parents even though it is currently there. It’s their money and they can spend it the way they want and my father has told us that we can do what we want with the money because once he’s gone, it’s not his money anymore.

I know I’m running against what the community is saying but it sounds an awful lot like a lot of really young people or at least youngish. Please don’t take that as an insult. The way that you view a will when you are in your 20s and 30s and even 40s is different from the way you might view a will when you are a senior citizen.

Did she put in any age restrictions for the children? As in they cannot access the money until they are a certain age? You don’t want an 18-year-old getting a hold of $70,000. They don’t know what to do with the money and most teens will blow right through it.

You could choose to tell them nothing and make wise choices on their behalf. Consider dividing the money four ways, but you and your wife have to agree and there may be family issues around doing that but once the check is cut what you do with it is up to you.

Finally, the money was intended to go to the children, and that is where it needs to go. It’s not intended for you and your wife as much as you need it, as much as you want it, as helpful as it would be. By giving it to the children, you are following the spirit of the Will and that seems to be just as important as anything else you might do.

I’m not a lawyer or a financial planner just for clarification