Will you and DH get an inheritance?

[Anonymous]

Anonymous wrote:Me? No. Only debt from my parents who got addicted to Credit Cards when i was young
Him? Oh yeah. They wanted a prenup, i said yes but then they dropped it.

So you has to pay outstanding debts of your parents? I get that they would come out of any estate, but were you personally on the hook for their spending? That doesn't seem right.

[Anonymous]

My mom did not receive any inheritance. My Dad did -- his mother owned a small house plus a large acreage of farmland that was sold and distributed among the three siblings and ten grandchildren. Out of that sale I received $10K (all the grandkids did). I don't know what my parent's share of it was.

ILs have both passed and did not leave much of an inheritance, just a house valued at less than $100K and a small life insurance plan. The house went to BIL since his daughter was living there and they'd long been the primary caretakers of MIL/FIL and provided a lot of unpaid labor to FIL's business over the years. DH got the life insurance but it really just paid us back for the funeral expenses.

I probably will get an inheritance from my parents but have no idea how much and will, I assume, depend on how long they live (currently 83 and 76) and any long-term health expenses (although they have long-term care insurance). I know they are very frugal, made a good living and my dad is a conscientious investor so I'd guess they have a pretty good sized investment portfolio plus their house in Northern CA. He's started to make some major gifts as they are slowing down and his health is declining... gave $25K per grandkid for their 529 plans, paid for some whole-family vacations. It gets a little touchy with DH since he doesn't like to take money from my parents but I think if this is how my parents want to handle their estate planning we should let them.

I do not factor future inheritance into our planning at all, it will be nice if it happens but would probably be used for gifts like helping kids with house down payments or grad school (not college since they are teens now and my mom at least is in good health and likely to live a lot longer).

[Anonymous]

I'd be shocked if we got anything from my family. Most likely there will be a bill... If there is anything I would guess it would be less than $500k split between 3 of us.

My uncle claimed money he inherited from my grandfather will go to my siblings and I (since we're blood and his step daughter is not). Definitely not holding my breath for that either lol. He's an ass.

DH will most likely get some inheritance. Depending on the next 10ish years anything from a few hundred thousand to a few million.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ugh, the people circling like sharks around their aging parents...

What on earth happened in life to get you to this point? I am legitimately sad for you. I mean that quite sincerely.

Oh ..don’t be sad for us. We will be okay.

Your children will be doing the same thing to you. As long as your cool with that. "Hey, Jacko, is Mom still breathing?" "She is? Darn it!!"

[Anonymous]

Yes. My late grandparents left a sizable inheritance to their 2 children and 10 grandchildren. This was 1999 and I received 10k, as did my sibling and cousins.

Technically and legally, my father, was the beneficiary but of course he shared his inheritance with my mother. Believe dad reinvested some in stocks, banked some, put my sibling through college.

I will receive an inheritance from my parents' estate. My father died years ago. My mother has already worked out arrangements via a trust that her estate will be divvied up equally to her adult children AND our children. No spouses.

DH and I just completed a trust. One adult, unmarried child but we are specifying our DC only.

[Anonymous]

I have no idea. Maybe some property from my parents. No clue about my ILs, who seem to have more assets than my parents, but also more medical need (at this point, at least).

[Anonymous]

No and no. But I hope to be able to leave something behind for my kids.

[Anonymous]

15:59 and now my ILs are a mess. They refuse to do a will, refuse to talk about end of life decisions and are both delusional and think they will simply take care of such things "later" (they are very spry 75 year olds) or ask "the boys" (DH and his chronically underemployed and over extended brother) to "help."

ILs have been trying to settle some "land sale" profits they inherited over a decade ago. Can't sell the land, back and forth to some faraway courthouse, keep saying they're going to give us the profits. DH and I will end up selling any interest or somehow getting out of this land ownership.venture.

[Anonymous]

I honestly don’t know. My parents are younger and hopefully will be around for many more years- may inherit part of their small business but it will not be a ton of $ by any means.

ILs I doubt it. They have a modest amount of $ saved I think - but it will be divided between there 6 kids sooo...

We both grew up working class- honestly am just grateful that our parents are all financially independent and planned well for their modest retirements. Both sets are very private about their finances but I doubt there will be any surprises.

[Anonymous]

Anonymous wrote:Yes. My late grandparents left a sizable inheritance to their 2 children and 10 grandchildren. This was 1999 and I received 10k, as did my sibling and cousins.

Technically and legally, my father, was the beneficiary but of course he shared his inheritance with my mother. Believe dad reinvested some in stocks, banked some, put my sibling through college.

I will receive an inheritance from my parents' estate. My father died years ago. My mother has already worked out arrangements via a trust that her estate will be divvied up equally to her adult children AND our children. No spouses.

DH and I just completed a trust. One adult, unmarried child but we are specifying our DC only.

Interesting you said “of course” your dad shares his inheritance with your mom yet your mom is leaving money to blood relatives only (no spouses) and you’re ensuring your estate documents state the nothing goes to your kid’s spouse. Why the “of course,” then?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes. My late grandparents left a sizable inheritance to their 2 children and 10 grandchildren. This was 1999 and I received 10k, as did my sibling and cousins.

Technically and legally, my father, was the beneficiary but of course he shared his inheritance with my mother. Believe dad reinvested some in stocks, banked some, put my sibling through college.

I will receive an inheritance from my parents' estate. My father died years ago. My mother has already worked out arrangements via a trust that her estate will be divvied up equally to her adult children AND our children. No spouses.

DH and I just completed a trust. One adult, unmarried child but we are specifying our DC only.

Interesting you said “of course” your dad shares his inheritance with your mom yet your mom is leaving money to blood relatives only (no spouses) and you’re ensuring your estate documents state the nothing goes to your kid’s spouse. Why the “of course,” then?

I would imagine that it's because their adult child is unmarried so there is no spouse in the picture. And in the event that their adult child does marry some day, the money will continue to belong to the adult child in the event of a divorce.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. My late grandparents left a sizable inheritance to their 2 children and 10 grandchildren. This was 1999 and I received 10k, as did my sibling and cousins.

Technically and legally, my father, was the beneficiary but of course he shared his inheritance with my mother. Believe dad reinvested some in stocks, banked some, put my sibling through college.

I will receive an inheritance from my parents' estate. My father died years ago. My mother has already worked out arrangements via a trust that her estate will be divvied up equally to her adult children AND our children. No spouses.

DH and I just completed a trust. One adult, unmarried child but we are specifying our DC only.

Interesting you said “of course” your dad shares his inheritance with your mom yet your mom is leaving money to blood relatives only (no spouses) and you’re ensuring your estate documents state the nothing goes to your kid’s spouse. Why the “of course,” then?

I would imagine that it's because their adult child is unmarried so there is no spouse in the picture. And in the event that their adult child does marry some day, the money will continue to belong to the adult child in the event of a divorce.

Yes, that explains why she’s only giving it to her kid. It doesn’t explain the “of course” part (that, of course, her dad shared his inheritance with her mom or that her mom is cutting spouses out when she benefitted from an inheritance as a spouse, herself).

[Anonymous]

I shared my six-figure inheritance from grandparents with my wife, who will not inherit any family money. Our kids are far too young to worry about leaving money to their spouses or not, but I don’t really think it’s any of my business what they do with money they inherit from us once (a) they’re adults and (b) we’re dead. We won’t know the difference anyway.

[Anonymous]

I received a small inheritance from a grandparent (less than 10k) and a large one from parents. My husband will get a substantial one but not like mine.

[Anonymous]

Not much.My dad signed a condo over to me while still alive. But, the deal is that mom keeps all the rest and she pays the taxes for as long as she lives. It is in Europe and I mean to keep it as an income source when/if I get very old. DH's dad has a house that is needs a ton of work to sell, and even then could get maybe 300K and maybe some life insurance, I would not think much, to be split between three siblings, the house too. But, while this is not on par with dcum "inheritance" any financial help will be most welcome.