I''m 76 and have inherited a grand total of either $25 or $15 or $5 (from a grandfather - it was a long time ago).
Cackle Cackle (no Dynasty family here)
From various relatives over a 40-year period, probably about $350K.\
These bequests, plus my 401K and regular investments (I saved and invested like a mad fiend while working!) allowed me to retire at 47. \
Received about $500,000 when my Mom died in 2008.
I''m not rich but I have a lot more that I have bequeathed in my will than inherited. Still, I''m grateful for the few thousands dollars I got when I did. It came in handy then.
I got a hundred dollars from my grandmother after my aunts visited my dying father and had him sign over his part of her estate to them. He was on a gurney with stage 4-DNR cancer and his mother was in the hospital with pneumonia. My aunts wanted to be sure my mother and I got nothing. They distributed $100 to each grandchild, sold her house and pocketed a tidy sum. \
If life is unfair then death can be a real bitch.
Almost every one of my friends is inheriting at least a million. With the WW2 generation dying, the biggest middle class wealth transfer in history is underway.
$160K from a family friend, a total surprise, and $40K from my mom. That last bit came after a sibling stole most of it while she was still alive. I''ve had rather bad luck with money since, (health, a harassment lawsuit, an underinsured house fire), but I''ve also made a point of doing good with what remained.
A third share of the family home and about $20,000 when my mother died. I bought my siblings out and the money went to repairs that were overdue, acquiring the mortgage and a short trip overseas to relax a little after the stress of the previous two years.
43k from a great aunt about 10 years ago. I paid off my car, bought some furniture, did some shopping and then put the rest in the bank.
"With the WW2 generation dying, the biggest middle class wealth transfer in history is underway."%0D\
In my family, that 20th century wealth is all going to be spent on elder care.
I miss the real Cackle Cackle.
$65000 from my brother''s death (rather have him back) and in the 80s, 2200.00 from my mother. Really would have liked her to stay longer, selfish me. She died of skull and spine cancer.
About 50k when my dad died. %0D\
He had very little but had a pension (from a public sector union job!) and took additional life insurance offered from his job. %0D\
I still have most of it in the bank. My sister and her piece of shit husband blew their half in a year.
Don''t be hard on yourself, r12.
I inherited about $110K from my Grandparents and parents. Very proud of them. None of them went to college. They all did really well. I''m the 7th of 8 kids and we were all provided for. \
Helped with college and the transition to a free lance/self employed career. Forever grateful.
Zilch, nothing, nada
Sister and brother r getting it all
1/5th of the sale price of a 1 bedroom apt in Manhattan.\
By the time the lawyer got through with us, we each got $50k. What kills me is that out of the 5 of us, only 2 needed the money. The others are wealthy beyond belief and to them, this was pocket change.
My aunt left me her condo; it''s worth about 250k.
$275K from my grandfather''s estate back in the mid 70''s. My parent''s home (and everything in it) in 1994 (the home is now valued at $1.4 million) and one third of a beach house along with my evil older brother and sister (who I subsequently bought out for $115K each - it''s now worth $750K). I also received $320K from my parent''s estate.\
My mother wanted to make sure their home went lock stock and barrel to the only child she knew would take care of it and not sell it to the first bidder so it was decided that I would receive less cash than my money grubbing siblings from the estate. In the end I definitely came out on the better end of the deal as I get $5950.00/mo in rent from my parents house. I''m quite sure my brother and sister (who I haven''t seen or spoken to since 1995) spent every dime they inherited from my parents long ago.
I''m sixty-nine and I''ve inherited one etching from my boyfriend who died in 1985. %0D\
That''s it Cackle, no dynasty here either. Both of my parents are still alive so might get something about the time I''m likely to die, statistically. %0D\
I''ve had some pretty wealthy friends kick the proverbial bucket, but they didn''t cast their shekels in my direction. I guess they figured if I could afford to take them the doctor and do their grocery shopping for them, I must be rolling in money.
63,000 from my mother (that was a 4 way split between us kids).\
8,000 from my father. My older brother had drained him almost dry.\
Father paid off 15,000 gambling debt of his and also paid of the 2nd mortgage that my brother took out solely so he could gamble. Then, he supported my unemployed brother for 4 yrs (almost up until the day he died).\
Oh, when we were going through my mother''s things, we found a 5,000 IOU from said brother for a new truck. Course, he never did get that truck.
Inherited $165K from mother - was able to travel to her birthplace in the UK to scatter her ashes, buy a sorely-needed new computer, and put $$ down on a condo. Having said that, I would much rather have her around.\
Nothing from grandparents, they gave what they had to their kids. My parents have told us not to expect anything by way of inheritance, which is fine by me. They''ve been very generous all along and I''d rather have them enjoy their own money.\
I did have one aunt who was fond of me and probably would have left me a chunk of money had she not died young and unexpectedly, without a will. Everything went to my uncle (I don''t think he even knew how much she had socked away, over a million I suspect) who promptly spent it on a new young bride.
$10,000 from my piano teacher. I was her favorite pupil.
$375K from my mom''s estate.%0D\
$100K (partner, from his mom''s estate).%0D\
Have just been informed by elderly aunt and uncle that I will be named as co-inheritor with their daughter-in-law (a widow). Have no idea what that might involve, and really don''t want to think about it - bad karma.%0D\
Partner and I have decided to leave everything we have to charity. Hope there is something left to leave by the time we kick the bucket.
Not a dime. But a friend left me a knockoff she did of a Renoir painting, and I have my grandfather''s pocket knife and one of my grandmother''s diaries. Those three things are probably my favorite possessions.
Still wish i had some cash though
Well, you all know what we got from our dear "Mommie". ZILCH!!!
Christina and Christopher
$300k from a Great Uncle in 1986 and then another $300k from my dad three years ago. Manage to grow my net worth to around $1.5...
When Mother goes, 9 million divided by three.
My grandma left me her vinyl record collection when she died. They were all country music albums. I went through them, took out a few I liked, then took the rest and donated them to an old folks home. I also got my grandfather''s trumpet. \
My folk have no money so I''m not planning on getting anything if they die before me. My father just did a reverse mortage on his house so that goes to the bank.
Approximately $2.75 million in 2005.%0D\
Nice to have for the future. But I still have to work for a living.
About $250k, in my early 20s, which I proceeded to blow through. Not even on any sort of durable goods, other than a car. Mostly just eating out, living for a while without a job, too many drugs, etc.
When my dad died (intestate but with property), I was pregnant and basically broke. I would rather have my dad than anything, but I can't lie and say the $30k life insurance and $50k share of the one property we've sold so far (this was almost five years ago - two others remain - one on the market, and one likely need to foreclose on the buyer's heirs - she died not long after purchase).
At least that money went toward a good cause... my son.
Oh, and I also owe the IRS about $45k (by their reckoning, since I failed to file a return for about 10 years, while owning lots of mutual funds). If I file my returns from some of those years, hopefully that amount will come down a lot.
Yeah, I'm a mess. Believe me, I don't think you guys can say anything worse about me then what I think about myself for screwing shit up this bad.
But don't worry, I'm not mooching off the government dime... at least I can say that. I work and scrape by.
Is there an "it gets better" for this scenario?
the anti-Suze Orman
My mom inherited $600,000 several years ago from an old recluse gay guy friend of hers who lived in a gloomy rental apartment for years. We had no idea he had any money, really.\
She was kind to him when others pulled away. I used to urge her to drop him. "That Ralph! Always smoking on the stoop in that ratty old sport jacket! Stop inviting him to parties!" \
She was smart to keep him around. Smart and nice.
My Uncle died about 3 years ago. His 4 brothers and sisters got $10K each. Me and my 9 cousins got $5500 each.
I got $10k when my father died in 1992 and I put a down payment on a house. Now the house is worth about 8 times what I paid for it. I don''t think I would have bought a house if my father hadn''t died as prices skyrocketed in this area shortly afterward. I would never have been able to catch up.
About $600 when I was 18 which my Dad used to pay bills (with my consent - we were dirt poor), and crappy genes from both sides of the family.\
Whoo-hoo I''m rich!!
[quote] But don''t worry, I''m not mooching off the government dime\
Yes you are. You''re a tax cheat.
$50K from my mother when she died unexpectedly, when I was 18. I can''t believe it but I had the good sense not to blow it. Now I''ve almost tripled it in real estate. \
My uncle left me his Rolex and a massive, otherworldly men''s diamond ring, which I sold.\
I set to inherit a million or so when my dad goes, but that isn''t something I dwell on.
I got $1,000 from my Mom. I had her estate lawyer send it to charity.%0D\
Sister got millions. Straight sister.
I don''t believe we have all these millionaires posting on dl.
That Is All
About $ 15K when my mother died. It was that little because she was so generous to us when she was alive. She was always handing out money and saying ''I want to see you enjoy it while I''m alive.''.
I get about $40,000 a year from my grandmother''s real estate trust. It has saved me.
$55K from my mom and the house. The bulk went to paying off debt and a down payment on my own house, but I had $20K saved for retirement. Made a nice little return on it until the investment guy misappropriated it, and lost it all.\
ShinjukuBaby told me that I was entirely at fault for losing the money because I didn''t have the money to hire a lawyer and sue.
"In my family, that 20th century wealth is all going to be spent on elder care."\
Yep, me too! I suspect the only thing I will inherit is debt.
Damn! Some of you bitches are rich.\
5k from my father about 3 years ago. It was a surprise cuz he never made much money, though he worked all his life in schmatta (sp?) factories.
If I tell you and it''s not enough, you won''t be my friend. If I tell you and it''s too much, then you will put arsenic in my mojito.%0D\
So no financial statements for you, Cackle Cackle.%0D
I will inherit my parents'' summer home. It''s beautiful. However, I will have to share it with my 2 siblings, and it''s too great a place to want to sell. I suppose I''d also inherit a third of their current condo, but it''s a modest place in Florida.
Two weeks in July, here I come.
12K from my grandmother, and it was amazing how much I was able to change my life with it. I squirreled half of it away in annuities, quit my hateful job to become a freelancer with the other 6k. About 10 years later I used the annuity money to put into a down payment on a condo, which quadrupled in value (90''s-early 00''s) when I sold it to get into a bigger apartment.
My dad is worth a good deal of money, but a couple of years ago he told me something that brought a smile to my face: "I''m not dying to make anyone rich."\
I fully expect him to spend the money he''s worked hard to earn. And when he dies, I know that the bulk of his estate will go to my stepmother (who''s been a great wife) and my brother (who was conceived when my dad was young and irresponsible--dad feels guilty that he wasn''t half the father to my brother as he has been to me). \
I''m amazed at the jackals who gleefully tell anyone who will listen how much they got from some dead relative or how much they anticipate to get from an elderly parent. An inheritance should be an unexpected surprise, not an entitlement.
My grandfather died about 25 years ago and left my father with an annuity of 1 million that was paid out over 20 years. He''s frugal, so I would imagine he''s had pretty safe investments. ...no idea what he has in the bank and we never discuss it. I doubt he''s spent a dime of it. I would imagine there would be something for us kids down the road, but I''m not counting on it.
When it happens - probably $250-300K and my childhood home.
[quote]and my childhood home%0D\
I had to clear out my childhood home last May. It was gut wrenching to do.
[quote]I don''t believe we have all these millionaires posting on dl.\
If you''re thinking it is impressive to be able to claim you''re worth a million dollars in this day and age, you are VERY wrong. People worth a million dollars or more these days are a dime a dozen. When I was young if you met someone who was a millionaire you almost always could tell that person was very wealthy. Today you generally can''t look at most "millionaires" and think "now there goes a very rich person".\
Face it, someone who has $1 million in the bank today is akin to someone who had $50 thousand in the bank just 30 years ago. It''s really not a big deal.
I inherited about 500K from my father. He died surprisingly and didn''t leave a will (otherwise I most surely would have received the absolute minimum because we were not on speaking terms for quite some time).\
My mom (my parents were divorced before my father died) left me around 300K of debts. I stupidly accepted the inheritance thinking that I''d be able to sell all my mother''s stuff and property to cover the overall debts. End of that story: I now have an official document that declares me insane (but not harmful to others) and grants me a financial advisor who gives me a monthly allowance.
[quote]If you''re thinking it is impressive to be able to claim you''re worth a million dollars in this day and age, you are VERY wrong. \
Agreed. Especially if you live in a country or city where real estate is expensive. Where I live, owning even a basic middle class house automatically qualifies you as a millionaire. Two years ago I sold a ramshackle home I couldn''t afford to demolish and rebuild. The home was so dark you needed the lights on during the day, and at night the cockroaches crawled up the walls from the gaps between walls and floor. It was my Grey Gardens experience: I was a paper millionaire living in squalor. Fortunately the genuinely rich person living next door wanted more garden, so he bought it from me for over $900k. But then of course I had to buy another home for a roof over my head, so the cash was meaningless.
I inherited the childhood home with two of my siblings. Cleaning it out before it had to be sold was one of the hardest things I have ever done. Dehydrated by the end of it. Luckily everyone put their best foot forward.\
As many have said, I''d give anything I got back to have another day with my parents. I thought missing them would diminish over time. Just the opposite. Everyday I miss them more.
I inherited about $75K from my parents when they died. It''s nice but it doesn''t really help since it''s now all the savings I have.\
I have no trouble believing that many people on this board are millionaires. 7 percent of all US households now are. This board is primarily but not exclusively white and educated, and so is the 7 percent.
broke, lonely, but i have a dog who loves me
None of your business.
When one receives a substantial inheritance, is the money taxed as income?%0D\
This past year I closed out a retirement fund for a downpayment on a house. I set some of the money aside for taxes, but it turns out I didn''t put enough aside. The retirement money was counted as "income" which, added to my regular salary, pushed me into a higher tax bracket and I ended up owing more than expected.%0D\
Is this how it works with inheritances as well? If someone makes $50,000 and inherits $50,000, are they taxed as if they earned $100,000 that year or are there some protections built in there for the inherited money?
I''ve already posted, but just to elaborate, my father put his house in a living trust to my sister. The house is worth close to a million dollars. \
She says she will share the sale proceeds (there is no mortgage on the house) with us siblings: me and my 2 brothers. I''m not holding my breath when my father passes that she will share anything\
Mom has nothing and is basically being supported by subsidize living and her meager social security.
r63 - If there''s any tax to be paid, the estate has to pay, not the person who inherits.
I had to spend 5000 to bury my father (my deadbeat siblings contributed nothing), and when my mom dies I suspect all that will be there is her house worth 200,000. But she might need that to pay for end of life care, who knows? I''m not counting on receiving anything. I always knew I wouldn''t inherit and so have worked hard and saved for my own retirement. But damn, I wish I was getting some of the amounts my friend have been inheriting. The trade off... I still have my mom, and that''s worth everything.
They spent it all on my sister and me.
Will, 2 M.A.''s
to the guy you thinks a millionaire is a "dime a dozen" these days - maybe you need to expand your circle. according to wikipedia, only .62% of people in north america are millionaires and even less globally - .15%. more people can claim "millionaire" than before, but its still a tiny percentage.
none yet.. but my dads brother is a nuro-surgen hes 70 years old and still working hard but when the time come im looking (hoping tht ill get atleast a million) my parents ill get about 300000. my moms brother is a dermatolgist. m looking to get around 400000 from him so im looking at about 1''700''000.000 but when i grow up ii want to become a dentist or docter so,ill just put it all in a bank acount..
that''s all, THANKS MOM!
$425K in inheritance, insurance beneficiary, not counting art objects and jewelry most of which I sold.
My mother left me about 50,000 bucks. I would have preferred to inherit nothing. She worked very hard and made sure I had no loans for my many years of very expensive education.
But my parents and siblings are still alive. I prefer that to the alternative.
Had an aunt and uncle who both died in the past 6 months. They had no children and recently learned from the trust administrator that all 11 nieces and nephews would be getting "something". Hurry up and probate that fucker, please.\
When my mom goes, I''ll get her house, her car, and around $250K cash.
C''est la vie
I inherited a big dick and have to make do with that.
I hope that you earn a lot from that inheritance, R75
Three Christmas ornaments from a great-aunt.%0D\
Because I cut all ties with my family years ago, I am reasonably certain that I will not inherit anything when my parents pass away. That decision likely cost me half a million dollars since they have done quite well. I''d make that same decision again today without hesitation.
My gran died last year at 101 and left seven of us grand kids 500K each. Changed my life, allowed me to change careers and do what I wanted. Irony is, my new livelihood is paying way better than my old one - and I only work a few hours a day. Money does free you up, and somehow, seems to lead to more money. I''m grateful to be so lucky.
R69, are you so stupid that you really think nuro-surgeon is the correct spelling?%0D\
It is neurosurgeon.%0D\
Hopefully that was a typo on your part.%0D\
Otherwise you are too dumb to live, let alone inherit anything.
Just found out last week that I will inherit about $875,000 from my biological brother''s estate sometime within the next 10 months (approximate).\
Pretty weird for me. I was adopted as a baby, didn''t start to look for any bio family till 15 yrs ago after my dad died. Found my bio brother almost imediately and all of the rest of the rest of family slowly over 3 years. Bio brother and I instantly clicked and were just about best friends until he died about 8 months ago.
Wow, do I ever feel poor. I have not ever recieved as much as a dime in inheritance. My grandparents died and left very little to their children, The grandchildren were left nothing but memories. I do treasure the memories of time spent with my grandparents%0D\
The closest I came to inheriting anything was when a close friend passed away. He had a beautiful old home filled with antiques we had found on many shopping excursions together. In our last telephone conversation, he said " I am dying, quick bring a truck!" No joke; he knew his mother and brother would sell his belongings as soon as he was dead and wanted me to have them instead.
Miss ya, John!
A small trust fund when my grandfather passed away. It would be enough to live on if I lived frugally and the markets held steady, but I would rather just use it to supplement my income if I decide to be a writer or teacher or some other low-paying but worthwhile job. He also left a small education fund for his five grandchildren but that is pretty much gone and I''m only a junior.
I don''t know how I got it. I don''t know how it got passed down to me.\
All I know is that I''ll never care what else I inherit.
From my grandparents: 0 %0D\
From my aunts and uncles: 0 %0D\
From my parents: 0 %0D\
Nor did I ever expect anything. %0D\
R63, inheritances aren''t income, just as life insurance death benefits aren''t income. But there is the federal estate tax (a tax on the right of the estate to transfer money and/or property OUT of the estate to a beneficiary). Some states have their own estate taxes, as well as inheritance taxes (a tax on the right to RECEIVE an inheritance).\
So, as with many things tax related, the answer depends on where you live...
*Not* TaxTroll, EA
I inherited this:%0D\
1. The idea that you wanted something ,you had to make it happen.%0D\
2. The idea that the only person you can trust to do right for you is yourself.%0D\
3. The Genetic code to live into my late ninties.%0D\
4. And an apartment bldg. from my grandmother (which helps realize items 1 & 2)
178K from my grandmother.%0D\
From my parents: 333K insurance policy, 240K from my share of their house, and approx 800K in a beneficiary IRA which was halved when the stock market crashed. It''s almost back to its original amount.%0D\
Of course I''d give it all back and more to have them back, but I work in health care for not much money and it''s been extremely helpful. I''m grateful.
In 2007,my parents inherited 5 million from my dads brother who was a neurosurgen. when my parents went in 2010 all together there was 6.5 million. we divided it between me and my sis. i got 3.3 million. i just put it all in a bank acount,been growing ever sense. it at about 4.2 million. it will keep growing about 30 more years until retirement
It doesn''t take a genius to figure out that R89 and his greedy sister killed their parents. If you have 30 more years until retirement, that means you''re 20 - 30 years old. Who the hell has both parents kick it before they''re 30? Murderers, that''s who.
my father owns orginal whole foods stocks giving us 80 million dollers.so thats what im looking at...
I''m the same as r85. Not a penny.
Less than $100K. My mother was outlived by her mother. And after my maternal grandmother died, my sibling and I inherited what was meant to go to my mother. My mom preceded her mom by one year, and she didn't have anything other than a couple grand and an accumulation of personal belongings.%0D
I treated my mother's inheritance respectfully and didn't piss it away. Still saved. But I wish my mother hadn't died. (I think, from time to time, of what she would think about this issue or that.) Bad health her last few years. Died, in the late-1990s, while in her early-60s. And her mother, 20 years older, did not want to survive her own daughter (who was the first-born of three), just four years after her husband of more than 60 years had passed (a word I don't normally use).%0D
A lot of pain for me, personally. But it teaches you in life to keep moving forward. That no amount of money will buy one more time. And that you have no choice but to get smarter in how you live. What you do for yourself. %0D
This is a great topic. I just hope people, with inheritances, have had love in their life with those from they've inherited. And I wish better times (no matter the dollars, if any at all).%0D
Me, nothing so far, but when my father passes, a couple of hundred thousand dollars.\
My partner, $1.2 million. I think I will keep him (even though I make four times what he does).
Another thread for the elder gays...
Well thank goodness, r91, because judging by your spelling and grammar skills, you CERTAINLY never would have earned that much on your own.
Where are you?!!
Grandparents - about 20,000 (1970s) in an educational trust. This, however, was offset by my bad decision to sign over my educational loans to my alcoholic mother (she swore she''d pay me back. Surprise!). Well, about ten years after I had cut ties with her, she tracked me down to let me know she was dying. Long story short, I went back, she died, and left about USD750,000 to my brother. Interestingly enough, he''d also stopped talking to her about three years before she died. And my godmother had to pitch in to pay for the funeral - he didn''t think she would have wanted one.
I wonder much of this is real. Like most people, I have never inherited anything and know very few people who have inherited anything. Even those who got something got maybe $5,000.\
But on DL everyone has rich relatives who leave large sums of money to their survivors.
An aunt bought an insurance policy that was supposed to help pay for my college education. Halfway through college I remembered to ask her for the money. I ended up getting about $300.\
My parents have no savings, so all I''ll get from them is their house, which is worth maybe 50 grand now and needs work. The neighborhood is going downhill, so God knows what it will be worth when they die, which hopefully won''t be anytime soon. I like them.
Granny Manson Mingott left me her Resolute dildo. She, Queen Victoria, Sarah Bernhardt, and the first Mrs. John Jacob Astor IV owned the only known versions--built from the timbers of the British Arctic Exploration ship Resolute. It''s been appraised at $100M.
My parents left me a trust with millions in it. But I am only allowed to access the interest.
$10K when my a-hole grandfather died and left me nothing, but my dad gave me $10K from his inheritance.
He was always a jerk.
My parents died last year four weeks apart. They blew through everything they had and left a mess. My alcoholic siblings trashed their house and when I went there I found they had had parties and left garbage behind. Thirty trash bags later + brothers'' piss in booze bottles + shit in paper bag + dead mice + 10 rooms full of trash = Thanks for the memories, folks and family.
i own Vertex Pharmaceuticals. so im already making millions. Back to the question. when my parents died i inherited about 600,000USD, back in 1998.
Nothing from family. Mom ad Dad are still alive at 91 and 90. So at 69, I''ve only inherited one picture painted by the deceased. He died from AIDS in 1985.
From my mother, grandmother and father over a 10 year period about 50K. Not a lot of money, but made a huge difference at the time. Considering I was 1 of 8 kids I''m sort of amazed at the total amount...especially as my Dad never earned much money.
I inherited a few thousand (less than 5K) when my great grandmother died in 1978 when I was 12. I didn''t even know about it until I graduated college 10 years later and my parents gave it to me. I used it to travel Europe and pay my moving expenses to DC for my first job. Since then, nothing and I don''t expect there will be much coming my way.
Well we appear to have Elaine Ullian of Vertex Pharmaceuticals among us...welcome, Ms. Ullian. %0D\
Millions, eh? Cumulatively, perhaps, but certainly not per annum.
$3000 and a like-new pickup truck when my mother died.\
I''d have rather kept my mother.
Nothing. My mother squander 70 thousand dollars of my grandparents inheritance on vacations an booze. There is nothing left for me.
if im lucky 100,000,my mom is a money spending machine.by the time she goes there wont be a dime to spare..
Ur all fos
Wow 106, you may kick it before your parents do.
like several others here, ZERO from any source. i've set up a couple of funds to go to my god kid when i'm no longer in need of the funds.
My grandfather left a trust, but my dad and his brothers and sisters spent it. My stepfather recently told us we would be inheriting and mapped out his assets without telling anyone how much it all came out to. He's a superager (Mom died 12 years ago) and so I expect to be able to pay for a spot in a rest home somewhere. Eventually.
My Dad threw me out when I was 16 when he caught me "experimenting" with my best friend. I haven't talked to my family since I was 22 or so, inheritance is a moot point.
My parents had government jobs when those jobs were well-paid and padded out with solid, steady pensions. They bought property at attractive prices -- houses and land that are now worth a lot of money.
My father is leaving me fewer funds than others in the family because I have not married and had children. I try not to let this irritate me, but it sure does.
Wow, someone found a Cackle Cackle thread. Any chance he might still be around, hanging out at the gas station in Half Moon Bay?
Nothing yet, but when my parents go, 350K in investments plus my childhood home. They're in their 80s, both in frail health, and when one dies I'll move in there take care of the survivor.
My only sibling died intestate a few years ago, and the adults agreed that my parents will leave their assets to me first. This, with a similar amount I've saved on my own, will help secure my own retirement without being a burden on my sibling's children; my will leaves everything to them when they turn 30 (they're teenagers now.)
We're doing it like this because it's a bad idea to leave big money to minor children, and they already inherited enough for college from one estate. If I do this right they'll each get another substantial chunk of money in their 40s AND a house apiece (I wonder how they'll work that out!) Be nice to your aunties and uncles, kids!
This thread upsets me with so many inheriting huge sums of money.
And even those who inherited modest sums of money upset me.
I inherited about $18,000 when my parents died while so many of you are not only set for life, but inherited much more than one even needs.
(they died three months apart)
Is there seriously a 76 year old poster on DL?
(I'm not being mean, just genuinely curious.)
My father apparently has a nice little nest egg, but his new girlfriend will probably get it (he's in PA, and they're common law married after two years.)
I really don't care. I'm OK financially, not rich but not poor. My sister is pissed about it all, but after the last few years of loss and sorrow in our family, I appreciate the little things too much to worry about something I cannot control.
My father suffered mental illness and in his delusion state left his small estate to "so called" charities. They were actually networking social clubs located near his residence, which hid behind the guise of non profit organisations. Vultures who were strangers to our family and to our father took advantage of the law in an attempt to blatantly steal from our family.
We financially supported our father and were mortgaged up to our necks because of him. We wrongly assumed, being next of kin, we would inherit and be reimbursed by the sale of his house. Little did we know, the lack of gratitude our father expressed toward us in his Will.
The legal process took two years and was the most stressful confrontation in our lives. After legal costs we barely received amounts that made any difference to our mortgages.
The lengths people go to led by pure greed was outstanding and an unseemly insight to charity organisations. IMO and experience any organisation that claims to help the poor will undoubtedly be corrupt.
My mother comes from quite a large family but fell out with them in her 30s and hasn't had any contact since, she never would tell me why. She had an affair with my father, who was working temporarily in the country and went home to his wife and family before I was born. I've never met him, and I'm not sure he was even aware of the pregnancy. I grew up on welfare and my mother still lives on it now, so nope, no inheritance for me either.
12k from my grandma. I was surprised as she was a sales clerk at JC Penney all her life, and there were 7 grand kids plus our parents. Who received more. Plus the old gal owned her house outright. I squirreled half away into bonds and used the other 6k to quit my job and go freelance. Then I moved to NYC right before the real estate boom and used the other half, which had grown a couple grand, to put down on a small apartment selling for 60k, which was already worth a quarter more by the time we closed on it. The seller was pissed and his lawyer kept trying to squirm out of it. We sold that place at about 300k to buy a bigger place which we then sold for around 700k. Now we own an apt outright in Brooklyn which seems to be inflating in worth and after 20 years I still freelance doing a job I love. Thank you Grandma for the $ and for imparting a bit of common sense. I'm far from rich, but doing pretty good.
Nothing yet. Though my mom just told me that my nephew and I are going to be the sole beneficiaries of her estate. She wrote both my brothers out due to the fact that they are selfish assholes who've treated her like shit. And their wives are completely psycho.
Not sure how much this will be. I would say a few hundred k, but she is healthy and strong and most likely will be around for another 20 years so I'm not even thinking about it.
Steel ear plugs from the love of my life.
To R-118 that is not fair it should not matter if you got married or not that was your siblings choice to get married and have children and your choice not to get married but all your fathers children be treated equally. Sorry you got the short end of the stick but maybe you should have a private talk with him and let him know how it hurts you but let him know you are still grateful for what he is leaving you and maybe he will understand and change things around. Good Luck
A receding hairline is all I inherited from my father
however, I struggled through shit jobs and ended up with a pretty good paying one.
I have saved close to a million dollars and only have a few investments.
It's not a big fortune, but it's not bad considering I came from nothing.
In my 50s now.
About £450,000 cash; a house just outside central city, thankfully without debt--though taxes are about £5,000 per year. Value of that fluctuates, I'd guess this Georgian is worth well over £500K but well furnished so maybe a lot more (art, Morris furniture, etc.) 2 vehicles came with property. After tax value above. I haven't quit working, but I might soon after doing the math. Annuities are conservative, but estate lawyers are pointing me in that direction. It's a good haul but most of my NY and Boston friends did much better than this. I'm grateful anyway. Don't see a lot of fabulous vacations in the future, but I like where I live, so no great loss there.
$214,000. My Mom died just before the stock market crash in 2008ish, and her executor sold all her stock holdings right after she died, so we were lucky as far as the money goes.
When my father died about 6 years ago, I got a tiny diamond ring in a cheap setting, but I thought it was pretty. And a pair of sneakers that he never put on, and a sweater my step-sister gave him that he hated and never put on. He left my mother about $3000 in cash, which we were all stunned to find squirreled away in his lock box, so she used it to put toward his burial expenses. We gave his car away to the first person who would drag it out of the driveway. My brother got all the hunting rifles, a few antiques, and a ring worth about $2000. Which was fine with me and our sister; he was the one stuck taking care of him in the end, anyway. My sister and two step-sisters from his first marriage didn't get anything. But then again, none of us expected to get anything.
Other than that, a bad temper, receding hair, and a body type that can't put on muscle (but I also don't put on weight, either, so there's that).
I'm really touched by the folks who say they would rather have the person. That's nice. You're lucky.
It wasn't a clear-cut inheritance because it ended up being a fight for estate control from my do-nothing sisters who had refused to probate and fulfill trust conditions because they had taken money. We ended up - again, with considerable expenses - with a broken-down three-story house requiring a gut rehab and personal items worth nothing. The exercise of cleaning up my parents' estate cost us about $40k, and the house as-as would be worth about $70k. The personal goods are worth nothing.
My partner's father died and the widow (third wife) grabbed everything after letting the old man starve to death. Grim. She's fragile and when she goes there will be about $500k.
When my younger sister passed away with no spouse or kids, I inherited her house (which was underwater, mortgage-wise) her cars and her stuff. Also $15K in life insurance and an IRA of about $20K. Of course I also had to deal with the whole probate mess and there were a lot of expenses that used up pretty much all of the life insurance money.
Now the house has appreciated somewhat and I refinanced it, so that's in better shape at least. When my mother passes away, I'll probably end up with another house and about $100K.
My big problem is what to do when I go ... I've got no more close relatives (just cousins.) I've been putting off setting up a living trust because I have no idea who to list as beneficiaries. I get a good pension, but that stops when I die. However, I've got the two houses (mine is almost paid for) and over $500K in cash and investments.
Sometimes I think it would be nice to know when and how we're going to die so we can plan to spend our assets down before we go.
I am planning of leaving my single nephews and niece about half the cash that I'm planning of leaving my married n & n's, Does that make sense to you? I don't want hurt feelings. I actually never see the nephews. I have it all planned out. It's a lot of cash, I wish I could be there. I'm sure they all will be pleased with the windfall.
One grandfather left me a $1000 insurance policy and another $700.
My granadmother left me about $800.
My mother left me about $100,000.
My step father left my sister half a million and not a damn thing to me.
[quote]My step father left my sister half a million and not a damn thing to me
For reasons that are well known to you.
I'm 33 and I've inherited $0.
But in all honesty, I'm not looking forward to inheriting anything because it would likely be the result of my parents' deaths. Would much rather have them around...besides, my siblings are all dysfunctional enough that they'd be shameless in trying to get their share of money.
I know someone in his 50's who is very frugal. His wealthy aunt died 2 years ago and he was her only heir. After taxes he got over 30 million dollars and a monthly income of 100K after taxes. He seems totally at a loss as to what to do. He has made no changes in his life. It is so frustrating even though it isn't any of my business.
My dad left my brother and me about a million each plus 50/50 ownership in his condo which would sell for about $800,000.
R138 you might want to rethink the idea of leaving half to single nephews and nieces than you do for the married. You never know what changes time will bring. My single brother easily has twice the cash money my partner and I have but we've made different life choices and I have no problem with it. No way my dad could have equalized that.
Partner and I are self employed, bought our small office building and rent out space to other small businesses. We rent out the inherited condo seasonally. We take care of the business end of that which is more work than it sounds. My bro pops in and out like he's still on vacation while we're scrubbing floors and cleaning toilets.
I can see our dad being highly amused in the afterlife. What he basically left us (or me at least) was a job that's not as easy as it looked.
I don't think inherited money, crazy win lottery money, flash in the pan entertainment money etc. really changes anyone. I think it mostly just brings out who you really are.
Each person should also list how many months they had to wait for the the whole probate thing to run its course.
When I did my sister's probate, I was able to get it done in about five months. (I think the minimum is 120 days in California; you have to allow time for creditors to file claims against the estate.) But I've heard horror stories about probates that drag on for years. A lot depends on how complicated the estate is and how crowded the courts are in the county handling the case. I was fortunate to be dealing with a smaller county and my attorney's office was right across the street from the courthouse.
You are right, I would not have anything to do with him and I knew there was money for me if I was willing to maintain contact with the SOB.
I would love to have the money but I wanted to be rid of him forever.
The money he left my sister was my mother's money he stole from her estate.
My parent's probate took about 6 years because none of us were pushing for it to be resolved. It gave the 3 siblings who were working at the family business a chance to run it into the ground while they drew a paycheck and used the estate money to fund it.
There is really only one black sheep who manipulated both my mother and previously, my grandmother, to become executor and commandeer God only knows how much money. The other six siblings just got together for a BBQ on Memorial Day, but the one black sheep declined to come, as she always does. Too bad, her loss.
Inherited my condo, would have preferred cash but am grateful to own my own place.
I inherited a bag of old towels from my grandparents. Some were so threadbare you could almost see thru them. My mother actually made a big deal out of giving them to me. They went in the dumpster as soon as she left
On the death of my parents, I received $800K in a beneficiary IRA, $200K from the sale of my childhood home and $200K from insurance. Unexpected medical costs and a year of unemployment took a big chunk of the money. I also received $60K from my grandmother which helped me go through college: she came to the USA in the 30s, worked as an LPN while my grandfather drove a Good Humor truck and died with an estate worth over a million. I'm extremely grateful for this safety net as my paycheck barely covers living expenses.
I'll be happy if everyone just remains alive until I can croak. I don't want to see any of them dead, no matter how much money is to be inherited.
A Lowrey "Genie" electric organ from my grandmother but my parents didn't want it so it got sold at a garage sale.
My partner is going to be a multi-millionaire when his father passes. His dad has Parkinson's and he had to go over to get some paper work and we saw some of the bank statements in his dad's records. A couple of mil in one account here...3 million in one account there and numerous smaller accounts with hundreds of thousands of dollars in each.
And those are the ones we SAW!
I have a feeling there is going to be the dirtiest,vilest,turf war for the $$$ in that family when his dad finally goes.
Marry me rich bitches!!!
$1000 from my grandmother. My father was the executor of the will so I'm sure I was screwed out of more. I'm not expecting anything from my parents though my mother did say to me years ago that if there were any objects I wanted I should tell her then. I can't imagine why she thought I'd want any of her middle-class shit. I not really interested in her porcelain figurine collection or my father's model airplanes.
R153 ... you guys had no idea of his dad's net worth? My dad,a Parkinson's patient, recently died leaving a large estate; it's split equally between my brother and I, and we're fine with that. Why are you expecting so much conflict? Also, if he gave no impression of having so much, perhaps a fair amount will go to charity, rather than the kids he seemed not to want to be honest with?
Dear R149 - why do I get the impression those "old towels" were probably some sort of art work that would have fetched big bucks on Antiques Road show?
I inherited $300,000 from my father who I was estranged from for years.It was a total shock,to me as well as the rest of my family,we'd all assumed he'd cut me off years before.It really pissed my two redneck brothers off as they had "families" therefore they felt I didn't need as much,though they both got the same amount.Me being a single old queer and all.
I ended up buying a small 4 unit apartment building with it,and it nets me a nice tidy 4 grand a month after overhead.
I sometimes wonder if my father just forgot to change his will,or if it was his way of letting me know he loved me,even after all the years of hurt and pain and mental abuse.
63,000 from my mother
8,000 from my father... my older brother's gambling debts just about drained him.
my older brother still ended up homeless, broke, crazy, and yet still entitled.
Drugs left him plain crazy and in a forever shithole.
I got unruly hair and an anxiety disorder that took 30 years to bring to heel.
Thanks mom and dad!
I'll consider myself lucky if I don't inherit any debt.
You can't really inherit debt. The debt is the responsibility of the estate; if the estate doesn't have sufficient assets to cover the debt, it gets written off (obviously I'm talking about unsecured debt, like credit cards.)
You're not responsible for anyone else's debts.
I inherited very little from my parents, all told maybe $60k. I didn't expect it or need it so I donated it to charities I thought each of them would have liked.
My partners family had four kids. Two did well one a dr and one a lawyer..the tow other younger ones always needed hekp.
So the two successful didn't take anything and left 200K for the two youngest.
They each got 100K about 4 yrs ago and have each blown through it
AND declared bankruptcy.
My partner is from a wealthy Jewish family and they are in constant contretemps over every minor disagreement or slight misunderstanding...everything from how much did "Aunt Betty" leave to each son in her will to which of the walkers the sons brought over for the Dad to use will he pick.Neurotic,constant competition and wrangling for favored position. Right now, because of all the errand running,shopping and house sitting (which he genuinely does out of love)while the parents are in Palm Springs my partner is the "good son".
My partners mother is still alive and fairly healthy and the fathers' Parkinsons is still in fairly early stages. Add to this a scheming,entitled, beautiful bitch of a grandaughter who is now jockeying for a percentage of the profits of the families sporting goods corporation and I can defintely see the storm clouds on the horizon.
The most complicating factor to this is that my partner was also sexually abused by his father as a teen...the revelation of which didn't exactly contribute to harmonious family dynamics.
It's not exactly "Dynasty" and although it's all rather tragic and sordid...it does make for some pretty good, bitchy intrigue.
I'd be eternally grateful to see another post by cackle cackle.
A lot of people don't know that (in the U.S.) you can't inherit someone else's credit card debt. I'm not sure about other debts, but when a parent or someone dies, unless your name is on the credit account, you don't have to pay.
Go ahead and do the right thing by making a final payment if you have been legally appointed in charge of the estate - but there is no reason to dig yourself into debt making payments on a dead person's account. It's alarming how often this happens and of course the creditors aren't going to turn away the payments.
What do all of these people mean by "I'm inheriting $300,000 of debt"?
Two eyes, nose, and a mouth, OP.
It's not a matter of "doing the right thing"; the executor has to pay debts first, before distributing the remaining assets. I believe that's what's meant by "inheriting" debt, although I understand credit companies sometimes try to intimidate survivors into paying off balances not covered by an estate, for which they're not legally liable.
I'm inheriting about 500,000 in in a couple of weeks.
(I don't mean that I predict someone is going to die then. My father passed in September. Two weeks is the date for probate to be completed.)
What R168 said - in the US, the estate isn't required to pay credit card or miscelleaneous bills off. I did the right thing by paying off the companies that were kind and helpful when informed that my brother had died, though. The ones that were assholes went empty-handed!
I also inherited a full scale church organ, weirdly. And 47 recorders.
What are you going to do with those items, R173?
A former bf, with whom I broke up twice, made me beneficiary of his pension balance (to the extent that his contributions exceeded payouts) a decade ago. Two years after we last spoke, the pension administrators notified me that there was roughly $50,000 remaining, which I took as a lump sum. He had just begun receiving payments at the time of our breakup, being eligible due to his permanent disability status well below the minimum age.
He was a musician, so some of that money is from his work on the official recording of the CD of Sweeney Todd.
My dad died recently, with a joint will so that all of the assets of the one who died first transferred to the survivor (my mom), period, no exceptions or bequests. However, other money that relatives left in trust a long time ago is now being transferred to my sibling and I directly, no trust involved.
For those of you thinking you will never inherit anything. I inherited less than $5000 when my final parent died, I figured that was it, never expected to inherit any more. Well I had a great uncle die that I had never ever heard of, without a will. He had no children or brothers or sisters. I ended up getting $6000 from his estate. Then a year later, a cousin died without will. He and his only sister who had already died had no children. His estate was worth a million, I will get about 1/4 of that. He lived on the other side of the country and I hadn't seen him since he was a kid. So you just never know.
you notice how the middle class families who had military in WWII are more generous to their children than billionaire rich celebrities who made their money off middle and low class people buying their products?