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Reply to "Financial planning when you know you'll be inheriting a trust"
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[quote=Anonymous][quote=Anonymous]I know I will inherit money when my parents die. That being said- I have no idea when that will be. If it's earlier- I will likely inherit a lot more money. If it is later, it will probably still be significant and potentially life changing. But I have no idea when that will be and a whole lot will change between now and then. So we are planning as if that is not a factor in our retirement plans. When the day comes that we get whatever amount that is- I hope we don't need it and that we can use it to benefit our children and/or grandchildren. So the only planning we are doing- as far as inheritance is concerned- is planning to not need it.[/quote] You are still very fortunate but that is a different scenario than op's and some of the pp's. I, too, will inherit but if my parents live into a ripe old age, then I'll be well into retirement when I inherit so I don't factor that into my retirement planning - the other big point being that the amount will vary greatly depending on how old my parents are when they die. A trust on the other hand keeps growing, so long as the principal isn't tapped and it is wisely invested- plus you have access to the money at a certain age. So I think a trust can be "counted on" in retirement planning, at least as far as any investments can be. [/quote]
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