Will you and DH get an inheritance?

[Anonymous]

No we won’t receive one!
Parents did!

[Anonymous]

Anonymous wrote:DH's Grandma has money set aside. (It won't be what some are hoping for)

MIL has been "sharing" while she's still alive. That's what she calls it. She doesn't want the Government taking most of it.

My mom received a small inheritance when my Grandma passed away.

How rich is your MIL, where she is worried about the estate tax?

[Anonymous]

Anonymous wrote:Did your parents get one?

My Dad did not, his parents lived to 97 and 99.

My mom got a small one that paid enough for her and her brother to go to college. (Her Dad died when she was 9 and her mom when she was 14) Then, she received one about the time I was born that helped them with a down payment for a house (Aunt died of bee sting a week before I was born and left her $8k in 1964). She inherited $100k from an Uncle in 1990.

MIL did not inherit anything FIL inherited about $200K around 1990.

DH inherited about $90k, most of which is in an inherited IRA 5 years ago. It would have been more, but MIL was in a dementia nursing home for 7 years after the death of FIL. We were grateful that the money lasted.
I inherited about $300k, three years ago.

I would rather my children had living grandparents.

[Anonymous]

I don’t know what my parents inherited. Certainly nothing life changing. I got about $12k when my mom’s mom died and I’m one of 6 grandkids who I assume all got the same. I have to think she left more to her 3 kids, but I was never told. The only things I’ve ever heard about from my dad’s side were sentimental items.

If my mom died tomorrow, my share (one of 3 kids) would be about $1 million. But who knows what assets she will need to use later in life so I don’t plan around getting anything. She’s giving us all money now, her three kids and some to each of her 7 grandkids).

I hope to leave money to my kids, but it’s hard to know where life is going to take me over the next 30-50 years. Just trying to save as much as possible without depriving them of things now.

My ex-who knows. His dad inherited basically nothing (less than $10k). His mom I’m not sure about because it was after we divorced, but I’d guess under $100k. His parents won’t have too much, and his mom has a lot of health issues so could well burn through quite a bit. At the moment they are barely speaking anyway-so if things continue in that vein I could see them bypassing him and leaving it to my kids (her only grandkids). Even if it does go to him, I have no expectation that he’d leave much for the kids.

[Anonymous]

My parents each got about 100K.

They have no savings to pass on to us but they are hanging onto their property that will likely be worth quite a bit by the time they die.

Dividing it up will be nightmare and I don't know if I will see any of it and am not going to put up a fight. My brother is the estate exec and we aren't on the best of terms.

[Anonymous]

No my parents did not receive anything, I will not receive anything either as I grew up in poverty and parents are still struggling. DH probably will just receive his parents property worth about 60k.

We are giving our children a much better life than our parents gave us, but not sure there will be any inheritance.

[Anonymous]

My parents inherited about 20 million. My dad added to this over time. They spend a lot (as they should) and most of their investments are non-liquid, with a value of about $30 million. I will get 1/3 of this, but only about 1.5 million in liquid assets. I hope to leave it to my kids but we earn only enough to live and don’t save much beyond 401ks so will be living off some of this in retirement.

My kids will get to graduate from college with no loans and will get about 1 million when they turn 30.

It is important to me that my kids know they always have to work, but have some flexibility to follow their passions.

[Anonymous]

I have no way of knowing this. With the cost of eldercare being what it is I am just praying that their money doesn't run out. Honestly, an inheritance is the least of my concerns. I love our parents.

[Anonymous]

My parents and DH’s parents immigrated to this country about 50 years ago from India. My in-laws showed up with several hundred dollars in their pockets and that was it. My parents probably had a little more (or family that they could reach back to) but not much. They had solid middle class earnings and probably lower middle class spending for their entire adult lives. It’s crazy but the end result is that my kids will likely each inherit about $1.5M from their grandparents (some passing through our hands but we truly don’t need it and expect to pass down). Depending on how our health goes, they should expect to see inheritance from us too. And we are comfortably middle class but not crazy wealthy. The most important financial lesson our parents taught us was how to identify needs v wants and the magical power of compound interest. Don’t know how to pass these insights down, especially since we have so much more disposable income, but we are trying.

[Anonymous]

Grandparents gave me about $400k several years before they died, and also had given me stock worth about $100k in present dollars about a decade before that and put about $30k in my kids’ 529 when they were born, too. Grandparents’ estate was divided between my father and his siblings. No idea what my parents plan to leave for us, but hopefully it will be many, many years before we’d get it anyway. I was also lucky enough to be able to go to college debt-free, so as far as I’m concerned, my parents already helped us out quite a bit.

No family money on DW’s side.

[Anonymous]

My parents got over $1 million plus 40 percent of a family business from my grandparents, which pays over $200k in dividends per year. I will get half of the business from them when they pass on, likely plus $2 - $3 million in cash.

I would like to pass as much as I can on to my kids and am currently focused on using their family money for a great private school and any college they can get into.

[Anonymous]

My husband got about $200k from his grandmother and will receive some when his parents pass (hopefully not for several decades!).

I received $23k when my grandma died, which was a total shocker. She was very poor and would reuse tinfoil, limit baths to about 2 inches of water, etc. Here estate was mostly split between 5 grandkids, so this was a total surprise. I will get some when my mom passes, again, hopefully not for a couple decades.

For those that say that a certain amount is t life changing, I paid off my student loans and paid for an extended maternity leave with my inheritance. I think of that as life changing.

[Anonymous]

Anonymous wrote:My parents inherited about 20 million. My dad added to this over time. They spend a lot (as they should) and most of their investments are non-liquid, with a value of about $30 million. I will get 1/3 of this, but only about 1.5 million in liquid assets. I hope to leave it to my kids but we earn only enough to live and don’t save much beyond 401ks so will be living off some of this in retirement.

My kids will get to graduate from college with no loans and will get about 1 million when they turn 30.

It is important to me that my kids know they always have to work, but have some flexibility to follow their passions.

Be careful with this.
If you’re not even able to fully save for retirement raised in extreme wealth and privilege your own kids may fall into the same situation? A lot of kids who know they will inherit a large sum don’t ever live up to their full potential. At least that’s what I’ve seen from people I know

[Anonymous]

It is safe to say we will on my spouse’s side. I don’t believe my in-laws did when their parents died (and if they did, it wasn’t much). I don’t expect to on my side.

[Anonymous]

And if you mean take a career path that pays less that is one thing (academia, social work...) but I have seen so many people take off years “ figuring out life” (partying) knowing they have that money they will inherit. I just wouldn’t want that for my kids.