Reply to Is it reasonable to ask your parents what your inheritance expectations should be?

Forum Index » Money and Finances

Reply to "Is it reasonable to ask your parents what your inheritance expectations should be?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]I agree there are two key questions here that are fair game:

Do the parents have their documents in order?  Will, trust, POA, etc?  Are they complete?

What's the plan for the sibling's care, not only in terms of who will do the caring, but have the parents put enough in the special needs trust (SNT) to cover all his/her anticipated needs for his/her lifetime?  Or Half?  More?  Less?  No need to ask for a specific amount, but it would be nice to have ballpark idea so that if you need to supplement sib's needs, you can plan and save for that.

I agree that you need to know about the SNT fairly early on.  The less they are putting in the SNT the earlier you need to know so if you are in a position to supplement, you can plan for that.  My parents are nearly 70 and started openly discussing these issues in the last 2-3 years.  They have told me about the SNT they are doing for my sib, and that it will cover all his needs, and more recently they told me the estimated amount they plan to put in the SNT.  That's given me huge peace of mind.  But they have never told me their total assets.  I am a little ashamed that I did ask at one point, but it was after they had initiated conversations over an extended period of time, and I was clear that I just wanted to get a vague ballpark cause I really had no idea -- I honestly didn't know if we were talking 500K or 15M.  Dad eventually gave me a ballpark which again, gave me peace of mind just so I know what I will be possibly dealing with, knowing of course that it could change a lot.  [/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