Will you and DH get an inheritance?

[Anonymous]

Anonymous wrote:

Anonymous wrote:My grandparents set up a trust - my mom got $2.5 million and I will get $1 million. We started to get payouts every year from that trust when I was around 25. It is VERY hard to not touch the money, harder than I expected, but I try to stick it all into protected accounts and not touch it. It's getting easier now that my husband and I make more money.

I have no idea if my mom plans to leave any of her inheritance to me or my kids when she dies. I haven't asked, it seems a little presumptuous considering I'm already getting a very generous $1 mil.

I hope to give my kids each $1.5 mil, but I'd like to start giving it to them in their mid-20s rather than when I die. Getting my money now, when my husband and I are trying to pay off student loans, buy a house, and put two kids through daycare has been enormously life changing, and I'd love to do that for them too.

My husband also got $50k when his grandfather passed. It might sound small-ish compared to my inheritance but it came at exactly the right time for us to buy our house, which has appreciated quite a bit, so it also was a hugely beneficial windfall to us. We've been extraordinarily fortunate. My dream is that one day once I have access to my trust I can give a very significant chunk of it to a cause I care about. I haven't figured out which one yet though.

Do you mean you don't touch the payout at all?
How do these trusts work?

Honestly, I don't know. My grandma hasn't passed away yet and my mom controls the trust. They give me $50,000 per year out of it to do whatever I want with. I try not to touch that (other than to put it into good savings accounts). I have no idea what I'm going to do if/when I get control of the entire trust. Hire a planner, probably.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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?

I don't know.

To her it isn't about how rich she is. She doesn't want to give the Government a penny more than she has to.

Her choice.

The federal estate tax does not kick in until an estate is over $11.4m (and the first $11.4m is excluded), although some states have estate taxes and those have lower limits. For example in DC the limit is $5.6m and MD is $5m. So it sounds like your MIL must have a very sizable estate if she is worried about estate taxes. If her estate is that large she should be getting some advice as she may be able to structure it more tax effectively.

[Anonymous]

My parents inherited about a million.

My husband and I should get money from both sides but people in our families tend live a long time. Our parents are currently all 75/76.
However, 7/8 of their parents lived to 90+ and 2/8 lived to 98+.
Life gets expensive when you live that long. However I would much rather have my parents than the money!

[Anonymous]

Will will get about $500K from my parents, and $1.5M from my in-laws

[Anonymous]

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.

[Anonymous]

His parents - yes, significant inheritance from the paternal side.
My parents - nothing from either side.

Will we get?

From his parents - maybe, but they live an extremely expensive lifestyle, so I don't know what will be left. Whatever it is will not be major.
From my parents - I highly doubt it. If yes, will be very small amount.

[Anonymous]

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.

[Anonymous]

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.

That’s not what I read at all. It’s either people expecting very little from their parents, or not counting on what might be there.

[Anonymous]

My parents have $1.5 mm in paid off properties and $2 million in assets. I assume I’ll get nothing or MAYBE one of the properties after elder care expenses. I’m an only.

[Anonymous]

Anonymous wrote:Nobody’s kids getting an inheritance?

How can you know unless you’re close to the end. I’d like to think that based on how we are doing at this point (40s with two middle schoolers) that we’ll have a reasonably robust estate (high 7 / low 8 figures) to split between charitable causes and passing on to our children, but who knows not having guaranteed pensions and medical care, unknown life spans, unknown market performance over the next 40/50 years etc

[Anonymous]

Depends on how long they live and in what condition. My ILs aren't doing great, but if they have prolonged illnesses, maybe not much, which of course is fine. My parents are relatively healthy and would leave us a lot now if they went quickly, but I'm hoping they live another 20 years and have not much left by the end. That would mean they traveled and treated themselves appropriately. They deserve it after all they sacrificed. They are generous with us now, but I keep telling them to do things like stop shopping discount, fly first class, etc. That makes me far happier than getting money when they die.

[Anonymous]

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.

[Anonymous]

DH and I both got inheritances. DH's broke his remaining family up bc it was distributed unequally.

My mother's parent's died before I was born and I doubt she received a dime. My grandmother's estate didn't get settled until after my father had died. He was to have inherited but since he (and my mother) had passed, his share was distributed among my siblings and me.

None of the amounts were life altering, but the were definitely life easing.

[Anonymous]

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.

[Anonymous]

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.

I should mention I don't think DH's parents got an inheritance. My father got something small from his parents but the money is from a third world country so not worth much here.