Reply to Inheritance Q

Forum Index » Money and Finances

Reply to "Inheritance Q"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]My parents are moving and want to give one of my siblings their current house ([b]worth a few million[/b]) which this sibling would use as their new primary residence. We all have families and all own our homes, but have mortgages. We also all work, as do our spouses. My parents have floated that if this property transfer occurred they would take the market value of the house when they deed it over to sibling out of that sibling's portion of their estate. However, I don't think that this is fair. This sibling will not only have a huge asset and no mortgage in their 30s, they will be able to take the equity from the sale of their other house and put it into the market where it will grow exponentially. When the rest of us [b]inherit our portions of the estate[/b], the house will be worth considerably more than it is now and the sibling's equity (if put into the market) will have also grown considerably. I have not said anything yet, but I think that if this sibling is given a home worth a few million that the other siblings should be given the same amount in stock/cash. Does this sound fair? Is there anything I'm not thinking of here?[/quote]

I do understand what you're saying from a balance sheet perspective, but the situation you're describing is one where you're already anticipating getting a significant inheritance.  It's not like one sibling is draining the parents' assets and no one else gets anything - you're going to get several million at least.  And if you get the money now, there are gift tax implications like a PP said.  Plus if you open this can of worms, are you prepared for each sibling to start pointing out money that was spent on someone else but not them?  "Larlo's lacrosse team was so much more expensive than my art classes!", etc?

The potential growth on the could-have-been-invested assets is not worth destroying any semblance of family harmony when you've already got plenty of money and anticipate significant inheritances, is my take.  But maybe that's just how poor people think and if I was anticipating several million I'd also be ticked off that it could have been several point six.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics