Will you and DH get an inheritance?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It depends on how long Mom lives. Right now we are
paying around $95,000 per year on caregivers in
Mom's home.

Wow.

NP, with similar situation (and annual cost). The high cost of senior living care is a simple fact, so I don't see why is it bad to point out the significant impact is has on inheritance - no one (except that one MIL PP) is saying they prefer the $ over the parent.

Also to those talking about this as being terrible to discuss - MANY aging parents openly talk about their will and retirement savings/trusts with their children so they don't have to guess what their wishes were when they pass away. My parents and my spouses parents have discussed their Will with us almost every other year - and based on anticipated spending in retirement have estimated what should be left and how they'd like to see those funds dispersed. It might seem morbid at first, but it's no uncommon when your parents exceed 75yrs old.

Yep. My parents have a document on the desktop of their computer that has all of the information we will need when they die. They also have a hard copy of that document in their file cabinet. They have gone through the entire thing with us. This is the responsible thing to do.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hopefully my parents will live long enough so I don't get an inheritance from them. I'm hoping MIL kicks it soon as we're expecting a couple hundred grand.

You're disgusting.

Then you should meet MIL.

May your children, DILs, SILs view you in the same way some day. Your poor MIL.

[Anonymous]

Anonymous wrote:My mom did not receive any inheritance.
My dad and FIL both financially supported their parents in old age.
My MIL received a small inheritance. I would guess around $100k.
I will inherit about $2-300k. My disabled brother will inherit $2 million. I will inherit any remainder from my brother if he dies before I do.
DH will inherit around $5 million. Hopefully most of that will be passed on to our kids, though realistically I know DH and I will spend about $1 million of it. We have not prioritized retirement saving as much as other things because of this expected inheritance. (Yes, yes, I know, you cannot count on inheritances. We are saving, just not as much as we should.)

For those of you that have really wealthy parents getting millions in inheritance and are struggling to keep up with retirement yourselves.. what happened?
I feel like it’s so easy to continue to build wealth when you grow up so privileged with the right education, financial help, etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My mom did not receive any inheritance.
My dad and FIL both financially supported their parents in old age.
My MIL received a small inheritance. I would guess around $100k.
I will inherit about $2-300k. My disabled brother will inherit $2 million. I will inherit any remainder from my brother if he dies before I do.
DH will inherit around $5 million. Hopefully most of that will be passed on to our kids, though realistically I know DH and I will spend about $1 million of it. We have not prioritized retirement saving as much as other things because of this expected inheritance. (Yes, yes, I know, you cannot count on inheritances. We are saving, just not as much as we should.)

For those of you that have really wealthy parents getting millions in inheritance and are struggling to keep up with retirement yourselves.. what happened?
I feel like it’s so easy to continue to build wealth when you grow up so privileged with the right education, financial help, etc.

They have been given everything throughout life so they have no drive. It's hard to be motivated when you've never felt the need to be motivated.

[Anonymous]

I have no idea if my parents inherited anything from their parents. They all passed away in the 1960's when I was a small child. I doubt my father did - his parents were immigrants and he grew up in poverty. My mom did inherit some money from a distant aunt. I think it was about $50,000.

Both of my parents have recently passed away. I inherited a little over $200,000 from my mom and about $75,000 from my dad. My parents were divorced and remarried. My dad had saved a sizeable amount of money before he remarried but he enjoyed his retirement and lived to 95, the last two years in a very comfortable memory care home. He and his wife setup a joint trust but she has complete control over it. She has said that what ever is left over when she dies, will be split evenly between her children and my brother and I. But I doubt I'll see any money when she passes.

I did inherit $1 million from my mother's sister. My aunt was childless and left everything to me and my brother.

My DH got about $50,000 from his dad. His mom is still living and she's 89. Right now, there's approximately $300,000. Whatever is left when she's gone will be divided among her 4 children.

[Anonymous]

Before my parents died they were annually gifting $15,000 to every family member including my wife and children. After they died what I stood to inherit I elected to have it go to my adult children as we don’t need it and they will really benefit from it. They stand to inherit a good amount but hopefully it’s years down the road. Meanwhile we are generous with annual gifts and funding 529’s for grandchildren as a way to transfer what we can right now.

[Anonymous]

Many years ago in 1983 my grandfather left me $15,000 and I put it all into Fidelity Magellan. He was a retired banker and he would have been very pleased with my investment. I think when we cashed it out it was worth we’ll over $100,000.

[Anonymous]

The in-laws do not have any assets. On the other hand, my long-widowed mom saved up a decent sized nest egg ($3M and growing) in retirement from a lifetime of frugality. With a paid off house, she barely spends her Social Security check and saves most of her pension income. When she did her planning, I asked that she prioritize her church or her siblings since I'm doing more than fine financially and my kids have everything they could need or want. But, she insisted on passing on all her assets to my kids in her will. I think leaving a financial legacy to her grands (and future great grands) is just important to her.

[Anonymous]

I will and it will be substantial but it will also means my parents will be dead so I’m hoping I will be 70 when it happens. We are doing fine and my parents are already generous so all is very good. They never inherited much if any so I don’t feel entitled.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have no idea and frankly IDGAF, I've made my own way in life. If we get one cool, if we don't, were still retiring at 55. Makes no difference.

It's not really a concern for me, either. I can see how it might make a difference to someone else, though. If you have ever been poor you know that.

Do be sense. Poor proportion dont get inheritances. Lay off the Disney movies, those arent real.

[Anonymous]

Anonymous wrote:My mom did not receive any inheritance.
My dad and FIL both financially supported their parents in old age.
My MIL received a small inheritance. I would guess around $100k.
I will inherit about $2-300k. My disabled brother will inherit $2 million. I will inherit any remainder from my brother if he dies before I do.
DH will inherit around $5 million. Hopefully most of that will be passed on to our kids, though realistically I know DH and I will spend about $1 million of it. We have not prioritized retirement saving as much as other things because of this expected inheritance. (Yes, yes, I know, you cannot count on inheritances. We are saving, just not as much as we should.)

Us too. I know we should be saving more, and we definitely are saving, but it could be more. We just know we stand to inherit quite a lot from both sides of our family.

[Anonymous]

Anonymous wrote:
My parents divorced and remarried other people while in their 40's. They brought most of the assets to their new marriages, but now my sister and I will have to share any inheritance with our step-siblings (who we only knew as adults).

I have 2 siblings. After my dad was widowed, he married a woman with 10, yes TEN children. Did I mention he also brought most of the assets into the marriage? Beat that!

[Anonymous]

It's insanity to count on an inheritance. Senior living care is basically a money hemorrhage, especially if your relative needs memory care.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My mom did not receive any inheritance.
My dad and FIL both financially supported their parents in old age.
My MIL received a small inheritance. I would guess around $100k.
I will inherit about $2-300k. My disabled brother will inherit $2 million. I will inherit any remainder from my brother if he dies before I do.
DH will inherit around $5 million. Hopefully most of that will be passed on to our kids, though realistically I know DH and I will spend about $1 million of it. We have not prioritized retirement saving as much as other things because of this expected inheritance. (Yes, yes, I know, you cannot count on inheritances. We are saving, just not as much as we should.)

Us too. I know we should be saving more, and we definitely are saving, but it could be more. We just know we stand to inherit quite a lot from both sides of our family.

For those of you that have really wealthy parents getting millions in inheritance and are struggling to keep up with retirement yourselves.. what happened?
I feel like it’s so easy to continue to build wealth when you grow up so privileged with the right education, financial help, etc.

[Anonymous]

DH’s parents have already passed away (no inheritance whatsoever). I’m also expecting to care for my mom in old age and know she doesn’t have anything for us. I’m estranged from my father. So no, not going to get anything. Pretty jealous of all the others here.