Anyone Expecting A Huge Inheritance?

[MonkeyMama]

I do not *expect* anything as my family is more of the "don't expect anything" variety. (I mean, even when I Was a kid; they never helped me financially). But I do know that I will most likely receive a very substantial inheritance. "Taking care of the kids" was never part of their plan, but is just how it panned out. They started with nothing, but now they have more than they know what to do with.

I do not feel any guilt about it. They spend and enjoy their money. They just live well below their means. It's because of their example that I have no idea why "living below means" or "living on very little" is equated with deprivation and sacrifice.

I am not counting on this money by any means. I had no idea it would be there until recently. Plus, genetically, I just wouldn't be able to. (I am convinced that no one in my dad's family has ever spent a penny of their social security income. Is probably a huge chunk of their wealth - it's been invested and passed down). I personally don't feel any obligation to my kids. We all know how to float our own boats. But, my dad grew up in poverty and never thought they would get any money from his family. Fair enough. (In the end, my "impoverished" grandparents left behind a large sum). Where we are at financially, with this huge safety net, I would like to break the hoarding cycle. To break the hoarding cycle, we don't plan to work as much or as long (we decided this before we knew of any inheritances), and I expect that most inherited money would be passed along to our kids (while alive/young) and charity. (Trust me, we will over-save and hoard, as is the family way. But, we just want to dial it down a notch. I'd like to have more of a plan than just, "save everything for a rainy day").

[bjl584]

I really don't know for sure, nor am I planning on receiving anything.
My mother has a significant nest egg, and I will inherit whatever is left of it when she passes. But, if she lives well into old age, then there mot likely won't be much left.

On a side note, I know a couple that is actually planning their life on receiving an inheritance from a family member. I find it sociopathic to wait around for someone to die so that you can renovate your house, pay off debt, take a vacation, buy a new car, etc.

[rennigade]

I would not be surprised if they went through their savings and had to sell the house to pay for nursing homes.

Around 7 years ago my parents finally made a will or trust...one of those two. Anyway at that time they signed their house over to myself and my sister. That way in the future if they ever had to go to a nursing home the nursing home couldnt come after their house.

About 3 years ago they also updated the will/trust to include all of their annuities I believe...so those wont be touched either in the event they have to go to some sort of care place. And yea...annuities suck...they're finally realizing that after all these years of me telling them how expensive they were.

[sandrark]

Yes, we probably will. But we are expecting nothing. None of our savings or expectations include any inheritance.

Realistically, DH's parents will pass along a substantial sum to him. My dad left nothing to his kids. I may receive some small amount from my mom when she passes, but I cannot count on it - she has no long term care insurance, and she has health issues.

So we decided long ago to never assume any inheritance. As apposed to DH's brother - his entire hopes of retirement are completely based on that inheritance from their parents.

[Nutria]

As apposed to DH's brother - his entire hopes of retirement are completely based on that inheritance from their parents.

Wishful thinking is known to be a trait of mankind.

[bennkar]

Considering all the angst between my mother and me for years I never figured on getting a penny from her(dad died in '09). That said about that time she started behaving nicely to me (having only one child and all other relatives dead can do that to ya), so now I am sharing in a will with a step brother. Of course now she is spending on face lifts and trips to Europe so I still don't figure on getting anything from her, which is just as well. Plus if she dies when her mother did I will be 15 years into my retirement anyway.

That all said, I will certainly not behave that way with my only son. I plan on working with him giving a few thousand each year to make sure his retirement is funded properly no matter what happens to me down the road. Hopefully there will be some grand children at some point to set up trust funds for, but that's a long way off.

[StormRichards]

What do you consider huge?

My DH will likely get half of a tear down but the land it sits on is desirable.

His share valued today is about 1/10 of the value of our retirement accounts. By that measurement, certainly not huge. But significant enough to where it could pay for college tuition.

[corn18]

Morbid topic, but I guess it's reality. I hope I never get an inheritance from MIL. That means she's dead. Not planning on it either way.