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Another one bites the dust
Old 03-13-2005, 03:54 AM   #1
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Another one bites the dust

Years ago I thought my brother and I would get a
modest inheritance at some point. My folks don't have much but manage to live very comfortably (their main
source of income is SS, by far). Anyway, now that I am retired, I can see how their assets could be wiped out
pretty quickly. Of course, they have Medicare and very good supplimental health coverage, but no LTC.
Just one more "fact" I believed for years which is now only
a tentative unquantifiable hope.

JG
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Re: Another one bites the dust
Old 03-13-2005, 04:35 AM   #2
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Re: Another one bites the dust

There will be zero inheritance for me and my sister - except for what's been gifted already over the last 14 years.

I've set up a reserve fund to cover three years of nursing home costs(above her SS) at LA rates - which go up yearly.

After that poverty/medicaid. She plans to die at home with us. We'll see.
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Re: Another one bites the dust
Old 03-13-2005, 10:16 AM   #3
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Re: Another one bites the dust

I expect no inheritence myself, despite my parents substantial net worth. They divorced, both got remarried, and had more children. As the "step-child" in both families, it's understood that the estate would fall to the "real" kids, especially since I'm so much more responsible than they, and they need the money more than I do. The ironic thing is, I believe I'll be expected to handle their end of life needs, LTC, etc. since after all, I'm the responsible one. FI is not an option for me, it's a neccesity! :P
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Re: Another one bites the dust
Old 03-13-2005, 12:52 PM   #4
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Re: Another one bites the dust

Re. divorce and then a "yours, mine and ours"
family. Wow, I can see that would get messy.
Another bullet I dodged

JG
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Re: Another one bites the dust
Old 03-13-2005, 03:28 PM   #5
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Re: Another one bites the dust

We have told both our parents to spend it all. But if they don't, we will. We are certainly not counting on it.

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Re: Another one bites the dust
Old 03-13-2005, 05:31 PM   #6
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Re: Another one bites the dust

Can't say I got a lot, my DM was living mostly off SS, and her estate was so small that it didn't need to go through probate.... probably the best "inheritance" I got was her insistance that I get an education so I could make my own way...
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Re: Another one bites the dust
Old 03-14-2005, 06:02 AM   #7
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Re: Another one bites the dust

My parents have substantial net worth, so there is a reasonable chance there will be an inheritance at some point. However, There are so many things that could wipe out their net worth before the 4 kids get what is left, that I somewhat doubt there will be much left. In any case, I don't spend a lot of time thinking about it as I can't help but consider it a bit grisly.
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Re: Another one bites the dust
Old 03-15-2005, 03:26 PM   #8
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Re: Another one bites the dust

Lawrencewill,

We are from the same group - I'm the only thing left that defines their union and they've both remarried spouse with children who aren't as responsible as me.....it's weird at times to visit.

Bridget
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Re: Another one bites the dust
Old 03-15-2005, 04:37 PM   #9
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Re: Another one bites the dust

Deserat,

I hear you! I don't mind so much the family situation, my half siblings are great, my Dad's still my best friend, my step mom is like a mother to me, but it does kind of sting to know you are last on the benificiary list, yet expected to do the heavy lifting when times get tough. My life is so good overall, though, it's hard to complain.
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Re: Another one bites the dust
Old 03-15-2005, 04:44 PM   #10
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Re: Another one bites the dust

Now, that's another thing I never saw coming. When I retired 100% in 1998, my folks were 81 and 79. We
were going to move directly to Florida or Texas then, but
I thought that was too much fuss at the time and so we ended up in Illinois, 10 miles from my folks. An "interim"
move. They are still here and so are we. I can't leave now. Don't misunderstand. I am happy to help. It's
only that I never gave it a thought 7 years ago. Just
dumb.

JG
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Re: Another one bites the dust
Old 03-15-2005, 08:12 PM   #11
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Re: Another one bites the dust

My wifes grandfather was the step child, from stories he told his father had a nice art collection consisting of Picaso's, Monet's and one other I don't remember. His stepmother inherited all of it and cut him off. He didn't complain about it though.

Right now I'm the successful one and don't expect any type of inheritance. The way I figure it is if I receive something great if not that's fine too. It wasn't mine to start with.
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Re: Another one bites the dust
Old 03-16-2005, 03:42 AM   #12
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Re: Another one bites the dust

Where thers a will, theres a relative. Survivors often act-out and later live the regret and embarassment. Not unlike the office Christmas party.

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Re: Another one bites the dust
Old 03-16-2005, 03:45 AM   #13
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Re: Another one bites the dust

Or the messy divorce (VOE).

JG
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