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re: Has anyone ever received a surprise inheritance...
Posted on 8/25/14 at 8:31 pm to Spankum
Posted on 8/25/14 at 8:31 pm to Spankum
Surprise inheritance from grandmother wasn't about the amount it was about the look on all of our parents faces when they found out they had to share it with their kids. Twas awesome. Priceless granny!
One kid being written out was epic also...
One kid being written out was epic also...
0
Posted on 8/25/14 at 8:33 pm to Negative Nomad
Same here. My grandmother was poor. Somehow, she gave all of her grandchildren 1G each. I was impressed.
Posted on 8/25/14 at 8:36 pm to ellishughtiger
Nuttin!
Posted on 8/25/14 at 8:37 pm to AUCE05
My grandmother was "comfortable" with only 2 kids and 5 grandchildren. Well when she passed away us grandchildren did not get anything.
Posted on 8/25/14 at 8:41 pm to ellishughtiger
My father surprised me with a Roth IRA he set up for me when I was young. He continued to put money in it while I was growing up. He showed me the account after I graduated from college (Was about 50k, should be worth a few mil when I retire). I maxed out my contributions to it this year and will continue to do so.
Posted on 8/25/14 at 8:42 pm to ellishughtiger
quote:
Has anyone ever received a surprise inheritance...
One of my good friends got about $4 million when he was 21 from his grandparents (he was adopted and his parents aren't alive anymore). He didn't really know them, but he was the only living relative. He was going through his money so fast that his adopted parents made it so he only had access to a small amount each month until he turned 25.
Posted on 8/25/14 at 8:43 pm to HempHead
You didn't get 70 grand
Posted on 8/25/14 at 8:45 pm to TH03
quote:
You didn't get 70 grand
Okay.
Posted on 8/25/14 at 8:47 pm to ellishughtiger
quote:
What's the going rate for inheritance tax?
No inheritance tax, estate has to be worth more than about 5 million for an estate tax return to be filed.
Posted on 8/25/14 at 8:47 pm to ellishughtiger
quote:
quote:
--------------------------------------------------------------------------------
yeah and then the government basically took it all
--------------------------------------------------------------------------------
What's the going rate for inheritance tax?
This is how my Dad's uncle's family lost Lake Ramsay. They had to sell it to pay taxes.
Posted on 8/25/14 at 8:51 pm to HempHead
quote:
I'm sure most of you were already contributing the yearly maximum to your IRA.
I was but I pulled it out and blew it when my other $ ran out!
Posted on 8/25/14 at 8:53 pm to ellishughtiger
(no message)
This post was edited on 8/25/14 at 8:54 pm
Posted on 8/25/14 at 8:58 pm to Walt OReilly
You know how I know you're not telling the truth?
The IRS taxes the estate BEFORE distribution. The payment to the heir is not taxed. The inheritance tax is on the whole estate.
The IRS taxes the estate BEFORE distribution. The payment to the heir is not taxed. The inheritance tax is on the whole estate.
Posted on 8/25/14 at 9:00 pm to Caplewood
Well since my dad had two car dealerships that got bought out for frick tons of money and now has another very successful business, my grandparents didn't see the point of leaving him their money.
So I got it. I will just say that having a monthly check deposited into my checking account for the rest of my life doesn't suck.
So I got it. I will just say that having a monthly check deposited into my checking account for the rest of my life doesn't suck.
Posted on 8/25/14 at 9:04 pm to Fat and Happy
Big?
Posted on 8/25/14 at 9:09 pm to ellishughtiger
I know a young teen who will be receiving 7 figures when he turns 18...because I had to go with the lone parent today to the attorneys office. (And no, he does not know...but does know his college tuition is already taken care of).
Posted on 8/25/14 at 10:30 pm to ellishughtiger
Yes. It didn't last long though, bought a sweet convertible, had to pay taxes, then got hitched and had a couple pegs and now I just keep moving on til the next payday.
Posted on 8/25/14 at 10:49 pm to ellishughtiger
My former S.O.s brother and his wife used to help this old man out on weekends. Clean his house, take care of his lawn, take him shopping, to church, etc. They had no idea when he died he had lots of property elsewhere and over a million dollars in cash which he left to them. They always thought he was just an old man scraping by.
Posted on 8/25/14 at 10:57 pm to ellishughtiger
Your dad did.
Posted on 8/25/14 at 10:59 pm to RogerTheShrubber
I've never got anything. When I have my first kid, I'll put in $250 a month for him. So he'll have something at 18.
My parents never did anything but saddle me with debt. I'm going to do different by my kids.
My parents never did anything but saddle me with debt. I'm going to do different by my kids.
This post was edited on 8/25/14 at 11:00 pm
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