Oh...OPs MIL is probably a Pain in the a$$. Stop trying to guilt trip them. |
Context? Was this the grandchild that called weekly, took her to her doctors appointments, or just spent time with her? |
I am definitely cool with that. We are childfree! I will at least pay your kids to take care of us...as I assume you plan is to be a burden on them. |
Yeah they probably will leave all to charity. Don’t worry about inheritance. |
This. My dad is 80 and has been taking me and my siblings out to lunch every year on his birthday to discuss this since he got remarried after our mom died. He was in finance and brings a printed out spreadsheet for everyone. |
Hmm. I'm hazarding a guess that what she's been told isn't accurate. But I don't ask. I keep telling her that she doesn't know how much she might need to live on. That should be her first concern. |
I assume I will get $1M plus from my parents. He may get something from his dad. We won't get anything from his mom, who is perpetually broke.
I also am in line to get everything from my spouseless and childless sister, though it is quite likely she won't die before me. |
My mom is not rich, but she has some assets. I would probably inherit a third of it if she died tomorrow. I obviously don't want her to die tomorrow. The longer she lives, the less I will get, and for that reason I would much rather get very little.
That said, I actually send her money every month, because I want her to be able to retire soon and have her assets last as long as possible. Not because I want to get anything back, as I don't consider my mom an investment, but because I feel its the right thing to do. After all, she sacrificed luxuries she could have had to get me through college debt free and I hope in return I can help her have a safe retirement. |
I have no idea. This is what my dad told me. He said it is a special needs trust. I don't know what an ABLE account is. Sounds like he is wrong or I misunderstood? I am not sure what you mean. Are you saying that when my brother inherits he will have to pay back the disability and Medicaid benefits he has been receiving for years? |
My father inherited a lot of farmland from his parents In the 1980s that was sold off long ago. When he passed away 13 years ago he had a life insurance policy worth a couple hundred grand whose proceeds went to my Mom. Those were used to pay off some debts but otherwise were saved by my Mom. He also had a generous pension which still pays her about $3k per month.
Mom inherited a house from her parents (where she lives and in fact where I grew up). That will be the only thing my sister and I inherit although the house needs a TON of work. Suspect we could sell it for $400k - perhaps more if we put some work into it first, but really may not be worth it. DH’s parents fled to Europe from Cuba in the 1990s and inherited nothing. DH won’t receive anything from them either and in fact I suspect we may end up Having to support them. For those inheriting significant sums, I’m so jealous. Money isnt everything but my god it helps so much! Pay off mortgage, children’s education... |
I inherited significant funds. I’m so jealous you have your parents still. Grass is always greener. |
I agree. Stop the guilt. She’s being honest. No need to wish things on folks for talking straight. |
We stand to inherit a substantial amount of money, $5 million or more, but my parents are so wonderful that I dread the idea of receiving it. They are very generous right now and we make a good living on our own so life is good. |
I came from nothing. My spouse thought he came from nothing because his family had always lived modestly but in fact his parents had around $4 million. When they were in their 70s they starting doling out money, mostly to their grandkids after concluding that they could use the money more at that point in their lives than later. They basically gave each of their grandkids $100k over five years or so, which helped tremendously with college costs, home down payments, etc., and relieved pressure on us as a result. I thought it was very smart and generous of them.
We retired in our early 50s with about $4 million in assets, and five years later we're now at about $5.5 million. We're also not extravagant, and with luck should have something left over for the kids -- but if not they're all fine. They're no expecting anything and we don't feel any obligation to leave them anything either. |
My dad inherited $100k. He needed a $10K loan from me once, which he never repaid. My mom inherited nothing, though her parents paid her way through college. I don't expect to inherit anything. I paid my own way through college and grad school (which means I had significant grad school loans). I plan to pay for my kids' undergraduate educations. If I can help with grad school too then I will. If I can help with down payments when the time comes, I will. I doubt I'll have anything to leave them beyond that. |