Anonymous wrote:DH and I work very hard and expect to pull in around $400k next year between the two of us.

We would like to move to larger house in an nicer neighborhood, but we can’t financially pull it off even though we work hard and save pretty well.

We have two kids who could benefit from a larger home.

DH’s mom is a widow, nearly 80 and lives in a nice but not super fancy retirement community.

She’s fit and healthy, takes care of herself, sees her grandkids maybe four times per year but doesn’t get super involved and likes her ample free time.

When her husband passed, she inherited $5M, which has grown to $6M over the past few years. When she dies, the plan is to divide up the estate between DH and his three siblings, provide some for her own sibling who is even older than she is and give an ample amount away to charity.

With two young kids and costs for child care/food/gas going through the roof, it would be nice to get some of the inheritance early from her to help provide a stronger cushion and help with a down payment.

We know we will inherit around $1M eventually but it could be another 20 years from now.

DH is adamant about buying a bigger house on earned income instead of her financial gifts but it will take several years to do that and by then we might not want a bigger house and a yard since the kids will be teenagers by then.

Is it wrong to wish we could receive more inheritance now to live out our dreams?

I have seen a few peers get financial help with a down payment to secure the large single family home that they could not afford on their own.

Anonymous wrote:Hi, I'm following this thread from the UK.

Do you not pay inheritance tax in the US?

In the UK it is not uncommon (not saying it happens all the time) for an elderly, widowed parent to give money to their children as an 'early inheritance'. The law says if the parent lives at least another 7 years from the date the money was given then there is no inheritance tax to pay.

There is a sliding scale of tax. If the parent dies the day after they gave their children the money then 40% inheritance tax is payable by the recipient. If the parent dies a week before the 7-year period is up, then the amount of inheritance tax payable is only a fraction of the 40%.

Anonymous wrote:Hi, I'm following this thread from the UK.

Do you not pay inheritance tax in the US?

In the UK it is not uncommon (not saying it happens all the time) for an elderly, widowed parent to give money to their children as an 'early inheritance'. The law says if the parent lives at least another 7 years from the date the money was given then there is no inheritance tax to pay.

There is a sliding scale of tax. If the parent dies the day after they gave their children the money then 40% inheritance tax is payable by the recipient. If the parent dies a week before the 7-year period is up, then the amount of inheritance tax payable is only a fraction of the 40%.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not OP but I hope my MIL would pass already instead of dragging out her meaningless existence and spending every penny of family inheritance.

No wonder so many families struggle without help from parents.

Those old ladies live for 40 years in retirement doing nothing for the society, just sitting in front of TV watching Fox News and voting against any progress in this country.

You mother gave us a sweetheart like you. She must be so proud of the cretin she birthed. If I were your MIL, I would give everything I have to your least favorite charity in your name and I would send $15,000 a year to Fox News, again in your name. Fox would then have your name and address. It would drive you crazy that all this money was given away but not to you. You are a bitter old crone.

Don’t worry. She doesn’t have any money. She followed the track of a stupid Republican housewife. She had plenty of children because the church told her to, but didn’t have much income. “Jesus will provide” idea did work out, so they didn’t have money for any of kids’ college. She’s living off of her Social Security. There will only be credit card bills after she goes.

DH will have gotten nothing from his parents, ZERO.

But at least she spent 40 years sitting in front of TV and helping her pedo church and voting against any progress.

Because of old a-holes like these US is a decade behind in environmental protection measures, has disastrous health care system and bad quality education, etc.

Anonymous wrote:

Anonymous wrote:Not OP but I hope my MIL would pass already instead of dragging out her meaningless existence and spending every penny of family inheritance.

No wonder so many families struggle without help from parents.

Those old ladies live for 40 years in retirement doing nothing for the society, just sitting in front of TV watching Fox News and voting against any progress in this country.

You mother gave us a sweetheart like you. She must be so proud of the cretin she birthed. If I were your MIL, I would give everything I have to your least favorite charity in your name and I would send $15,000 a year to Fox News, again in your name. Fox would then have your name and address. It would drive you crazy that all this money was given away but not to you. You are a bitter old crone.

Anonymous wrote:

Anonymous wrote:Not OP but I hope my MIL would pass already instead of dragging out her meaningless existence and spending every penny of family inheritance.

No wonder so many families struggle without help from parents.

Those old ladies live for 40 years in retirement doing nothing for the society, just sitting in front of TV watching Fox News and voting against any progress in this country.

And what have YOU contributed really?

Anonymous wrote:As a single mom making $20k in California (and I have a bachelors degree...) this post is just making my eyes roll into the back of my head.
I am getting my inheritance early in the form on my parents helping me with rent.
This is pretty much the only way I would say it makes sense.
You make 400k wtf

Anonymous wrote:DH and I work very hard and expect to pull in around $400k next year between the two of us.

We would like to move to larger house in an nicer neighborhood, but we can’t financially pull it off even though we work hard and save pretty well.

We have two kids who could benefit from a larger home.

DH’s mom is a widow, nearly 80 and lives in a nice but not super fancy retirement community.

She’s fit and healthy, takes care of herself, sees her grandkids maybe four times per year but doesn’t get super involved and likes her ample free time.

When her husband passed, she inherited $5M, which has grown to $6M over the past few years. When she dies, the plan is to divide up the estate between DH and his three siblings, provide some for her own sibling who is even older than she is and give an ample amount away to charity.

With two young kids and costs for child care/food/gas going through the roof, it would be nice to get some of the inheritance early from her to help provide a stronger cushion and help with a down payment.

We know we will inherit around $1M eventually but it could be another 20 years from now.

DH is adamant about buying a bigger house on earned income instead of her financial gifts but it will take several years to do that and by then we might not want a bigger house and a yard since the kids will be teenagers by then.

Is it wrong to wish we could receive more inheritance now to live out our dreams?

I have seen a few peers get financial help with a down payment to secure the large single family home that they could not afford on their own.