|
What is the "right" thing to do.
09-05-2014, 10:08 PM
|
#1
|
Recycles dryer sheets
Join Date: Aug 2014
Location: Western Canada
Posts: 393
|
What is the "right" thing to do.
This thread made me wonder, not the legalities but the ethics.
One of my mother's sisters died a month ago. I got an email from my cousin today asking for my correct mailing address since she had left me $5K in her will. To be honest, $5k would have been pocket change to her, it is to me as well, and I doubt it would mean a thing to her two kids. I also suspect that her will looked after her 3 grandkids. There are 3 GGK's, they may or may not be mentioned.
I could "renounce" the bequest but I don't want to look like I'm ungrateful. I want to do something. What would you do and why?
1) "Renounce" the gift.
2) Take the money and send a cheque for 1/3 of it to her grandkids.
3) Take the gift, set up a separate investment account with it, and leave that portion of my estate (in my will) to her GGK's. Hopefully, I'll live long enough that it may be woth something when I die.
4) Use the gift to hire a few "escorts".
5) Donate it to the political party I like least.
6) Other, please elaborate.
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
09-05-2014, 10:18 PM
|
#2
|
Recycles dryer sheets
Join Date: Feb 2014
Location: SF Bay Area
Posts: 289
|
I'm compelled to ask, why in a thread that talks about 'ethics' and 'the right thing to do', one of the options is not, "give the money to a deserving charity in my Aunt's name?"
__________________
"The only function of economic forecasting is to make astrology look respectable"
- J.K. Galbraith
|
|
|
09-05-2014, 10:25 PM
|
#3
|
Full time employment: Posting here.
Join Date: Apr 2008
Posts: 702
|
You should take the money and decide what to do with it at a later date. She wanted you to have it.
|
|
|
09-05-2014, 10:26 PM
|
#4
|
Full time employment: Posting here.
Join Date: Mar 2004
Location: No Where for Very Long
Posts: 769
|
I like #4; make a few fantasies come true
__________________
|
|
|
09-05-2014, 10:30 PM
|
#5
|
Thinks s/he gets paid by the post
Join Date: Jun 2010
Posts: 2,301
|
There is no "right" thing to do. Your Aunt wanted you to have the money. I don't think you should feel guilty about accepting it and you should do what ever you want with it.
|
|
|
09-05-2014, 11:26 PM
|
#6
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
|
Quote:
Originally Posted by photoguy
There is no "right" thing to do. Your Aunt wanted you to have the money. I don't think you should feel guilty about accepting it and you should do what ever you want with it.
|
+1
I had an inheritance like this (slightly larger) in 2013. I certainly was not expecting it, but was pleasantly surprised. I saw no reason to disrespect the wishes of my late aunt-in-law. I used the money to fund my TFSA.
|
|
|
09-05-2014, 11:35 PM
|
#7
|
Recycles dryer sheets
Join Date: Aug 2014
Location: Western Canada
Posts: 393
|
Quote:
Originally Posted by FireBug
I'm compelled to ask, why in a thread that talks about 'ethics' and 'the right thing to do', one of the options is not, "give the money to a deserving charity in my Aunt's name?"
|
I hoped that was covered by #6. I'm glad someone mentioned it.
|
|
|
09-06-2014, 12:21 AM
|
#8
|
Recycles dryer sheets
Join Date: Oct 2011
Location: Oakland
Posts: 97
|
Take it and invest it or bank it. Every year, use a portion of it to honor your memories of her in some way, so it is an ongoing process which can evolve throughout your life.
|
|
|
09-06-2014, 04:36 AM
|
#9
|
Thinks s/he gets paid by the post
Join Date: May 2014
Location: Utrecht
Posts: 2,650
|
Wouldn't give it to the GGK, there may be more of them in the future and then they get left out.
I'd probably just add it to my savings. Or spend it on a family event that celebrates dear Aunt.
Since it was pocket change for the both of you I wouldn't think about it too much. She probably meant it as a gesture of recognition (or an underhanded insult )
Don't renounce it though, that'll just generate unpredictable emotions.
|
|
|
09-06-2014, 07:55 AM
|
#10
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,266
|
I would accept it and use part of the money to buy a splurge that I wouldn't otherwise do and think of Auntie every time I used that item and use the remainder to make period donations in Auntie's memory.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
|
|
|
09-06-2014, 11:35 AM
|
#11
|
Full time employment: Posting here.
Join Date: Sep 2012
Location: San Jose
Posts: 607
|
If your Aunt died of a specific medical condition (cancer, heart disease, etc) then accept the bequest, but donate in her memory to a related charity or institution (cancer society, etc).
Otherwise, I'd probably donate it to a worthy charity in her memory, or my church.
|
|
|
09-06-2014, 02:29 PM
|
#12
|
Moderator
Join Date: Jul 2010
Posts: 7,925
|
I agree with the position that renouncing it would appear disrespectful to her wishes, and you don't indicate any compelling reason to do so.
So accept it graciously and be creative - perhaps the act of spending it/giving it away will give you some good memories to honor your Aunt.
__________________
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
----------------------------------
ER'd Oct. 2010 at 53. Life is good.
|
|
|
09-06-2014, 05:44 PM
|
#13
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
Sign the back of the check and forward it to me. Done.
|
|
|
09-06-2014, 05:48 PM
|
#14
|
Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,302
|
Quote:
Originally Posted by photoguy
There is no "right" thing to do. Your Aunt wanted you to have the money. I don't think you should feel guilty about accepting it and you should do what ever you want with it.
|
Exactly.
__________________
When I was a kid I wanted to be older. This is not what I expected.
|
|
|
09-07-2014, 05:04 AM
|
#15
|
Recycles dryer sheets
Join Date: Jul 2013
Location: Cocoa Beach
Posts: 414
|
Quote:
Originally Posted by photoguy
There is no "right" thing to do. Your Aunt wanted you to have the money. I don't think you should feel guilty about accepting it and you should do what ever you want with it.
|
+1
I have never received any type of inheritance but if I did I would assume they gave it to me because they wanted me to have it and they wanted me to enjoy it. I wouldn’t ever consider refusing it as that would just feel wrong to me.
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|