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Old 02-11-2012, 08:10 PM   #41
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Originally Posted by pb4uski View Post
While we have told our kids not to expect any inheritance, the reality is that it is likely that they will receive [an] inheritance, not be because we intended it, but more because of the conservatism built into our plans which is at least in part intended to make sure that we will never be a financial burden to our children. That and LBYM flows through our veins and we find it difficult to splurge other than just every once in a while.
I'm surprised that more people haven't stated it.

We're not going to be happy unless we've got enough in the bank to pay for "some big emergency", (which is probably LTC expenses) so we won't be a burden on the kids. If we die without spending it, we'll be happy that the kids get it.

If we die young, they'll get more. That's okay, too.

AFAIK, the only way to be sure that you die with nothing, while not running out, is to annuitize everything. We decided against that.

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Old 02-11-2012, 08:28 PM   #42
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Remember "it's better to give with warm hands than cold"

Work is something you do to get enough $ so you don't have to....Me.
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Old 02-12-2012, 01:23 AM   #43
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We intend to fund Roth IRAs for our two kids whenever we can, and I have told them so. I've also told them that this will not start until we are retired and see our way to be able to do it and still take care of ourselves. I've also told them that when we can't do it, we will not. Current projections (pretty conservative) tell us that we will likely have no problem doing that, but you never know. We also intend to have family vacations with them, their spouses, and our grandkids every now and again, but this is not likely to happen every year...maybe one in two or three. On the off years, we will enjoy our own vacations and trips in the RV to go see them...when we get the RV. We project that there will still be a significant inheritance, but I see no need to save so much that the government gets it instead of us enjoying it with them.

Find Joy in the Journey...
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Old 02-12-2012, 07:16 AM   #44
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Many good comments and mine would be consistant to most. Pretty hard not to leave some legacy given the uncertainties involved. We have been very generous to our daughter and will continue to be. It is a lot more fun to see them use the funds while we are around.
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Old 02-14-2012, 10:58 PM   #45
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My kids can divy up the real property; house, cars, furnishings. All probably worth at least $500,000 if cashed out. (Insured for probably at least twice that amount if I had to replace it after a disaster.)

The cash is ours. If there is anything left, I've willed it to the progeny of my children or their children, dependents under 18 for educational purposes only. My estate planning attorney set it up.
Teach a man to fish and all that......

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