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re: All this inheritance talk has me curious, fill all the cup equally? Or fill it the same?
Posted on 1/6/25 at 2:09 pm to molsusports
Posted on 1/6/25 at 2:09 pm to molsusports
my parent's will has it equally split among 3 of us. I'm pretty sure my older doesn't "need" any more, and the way the younger spends money, I can't see him needing any either, although you never know. (good for nuthin' wife and 4 cats is about it.) more of a spender than saver.
the only reason I know is when dad died a few yrs ago , we had to look over the will. now my mother is somewhat obsessed with not "losing" her investments so that we'll have an inheritance.
the only reason I know is when dad died a few yrs ago , we had to look over the will. now my mother is somewhat obsessed with not "losing" her investments so that we'll have an inheritance.
This post was edited on 1/6/25 at 2:13 pm
1
Posted on 1/6/25 at 2:10 pm to lsugerberbaby
quote:
Skip a generation and give it to the grand kids.
My wife's grandparents did that, and her dad plans to do the same. I like the idea for sure.
With that said my father in law has every penny budgeted so that when he turns 106 there won't be anything left to pass on. Hoping he makes it to that.
This post was edited on 1/6/25 at 2:14 pm
Posted on 1/6/25 at 2:11 pm to Kingpenm3
quote:
I wonder how many people actually leave one, everyone tells me that end of life care takes ends up with most of what people ever had.
A lot of individuals who grew up poor and didn't receive inheritance want to do the exact opposite of that for their family.
If everyone is raised properly and all get an education and agree to the fundamentals about how to handle family money most people in this country would never have a problem. Most patriarchs these days dont have full control of their kids.
Posted on 1/6/25 at 2:13 pm to fareplay
quote:
split the inheritance equally
Easiest and most efficient.
quote:
bring everyone to the same level?
Ew no. That's an awful idea.
The better side is to give it to the smartest in a trust, that manages
the investment portfolio, and doles out annual payouts based on performance. Put some requirements on management requirements (Even just mirroring what a "moderate" risk portfolio would do) and an annual report, and trust that you've raised good kids to manage it over time. Maybe even put that on a timeline, since you can't see too far ahead with a will, and after 10 years the full investment portfolio is then split equally. If you don't trust your kids to manage, then legally require them to work with an investor or a financial agent. Yeah it skims some off the top, but at least it brings in a third party.
Posted on 1/6/25 at 2:14 pm to fareplay
We have a similar situation in our family. MIL was left some money when a sibling died. She always said she didn’t need it and would leave it to her 3 kids and split it equally. Now they have decided to leave the entire thing to one of the kids because he isn’t as well of as the other two. The reason is because he is HORRIBLE with money. He’s had more new cars and moved more than the other 2 combined. His wife only works part time. It’s an absurd decision but it’s also her money so what can you do?
Posted on 1/6/25 at 2:17 pm to fareplay
Equal. Dividing it un equally will only lead to a massive shite show coming down the pipe.
If they want to help out the less fortunate siblings at that point then thats up to them
If they want to help out the less fortunate siblings at that point then thats up to them
Posted on 1/6/25 at 2:18 pm to fareplay
Whatever you do, you need to be very very clear with the kids as to your intention before you die. You don't want one person to be surprised when you die and then hold a grudge against all the other siblings.
Posted on 1/6/25 at 2:19 pm to sparkinator
quote:Your son will end up hating your sister bigly in this situation
My son would blow it all in 6 months. And have zero to show for it.
My daughter will build upon it and live off the interest
I’ve already told her to be prepared to get it all and take care of her brother.
Posted on 1/6/25 at 2:21 pm to jizzle6609
quote:
1. They love their children so much they want them to be okay when they pass away.
Giving them money does not guarantee this. In fact in some cases it contributes to their demise.
quote:
2. The Bible
“Do not store up for yourselves treasures on earth, where moth and decay destroy, and thieves break in and steal. But store up treasures in heaven, where neither moth nor decay destroys, nor thieves break in and steal. For where your treasure is, there also will your heart be."
Matthew 6:19-21
quote:
There is no greater Euphoria on this green earth then being able to hand large sums of money to someone else and it does not affect you at all.
Perhaps for some who see money and wealth as their reason for existence.
Matthew 6:24 says, "No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other"
Posted on 1/6/25 at 2:24 pm to Freauxzen
quote:
better side is to give it to the smartest in a trust, that manages
the investment portfolio, and doles out annual payouts based on performance. Put some requirements on management requirements
A great idea in principle but can destroy relationships in practice. The irresponsible kids will sometimes act like total buffoons when they realize they weren't trusted because they are bad with money. There can also be a not inconsiderable amount of work related to taxes and accounting
If you can remove those burdens from your more responsible kid you'll have improved their remaining lifespan
Posted on 1/6/25 at 2:26 pm to GreatLakesTiger24
This is where all problems lie. How do you know this to be true? Or are you just assuming and your the greedy one? Why don't yall talk about it openly instead of assuming. And why don't you have the parent or parents establish who gets what! End of story
Posted on 1/6/25 at 2:32 pm to Snipe
quote:
Giving them money does not guarantee this. In fact in some cases it contributes to their demise.
Rule number 1 - Raise your kids properly. Finance should be a skill every single parent teaches their kids regardless of what job you hold. Financial responsibility, primarily debt are the keys. If you teach them this, they will not squander it, teach them not, you are probably correct.
Posted on 1/6/25 at 2:32 pm to HattiesburgTiger5439
My dad updated his will a few years back after divorce. He sent copies to each of us, and one of my siblings is going to be the executor. Basically there are a few personal effects he wants to go to certain individuals, then the rest will be liquidated and distributed equally. None of us really need anything other than our younger sister, so we will make sure anything that she needs is taken care of while she is still alive. After that we would split anything else equally. In reality, it will end up going to his grandkids either in educational funds or we'll have some sort of trust set up.
Posted on 1/6/25 at 2:33 pm to fareplay
Only option is winner take all
Posted on 1/6/25 at 2:33 pm to Snipe
quote:
Perhaps for some who see money and wealth as their reason for existence.
Matthew 6:24 says, "No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other"
You are looking at it all wrong.
This has nothing to do with the person being wealthy and everything to do with them being able to help people in need. You are making the assumption the person who has the money is greedy and that is wrong. The person who has the money might be the most humble person youve ever met that just lived a simple life although they made great money and had great investments.
Posted on 1/6/25 at 2:37 pm to HattiesburgTiger5439
quote:it has been discussed and established
Why don't yall talk about it openly instead of assuming. And why don't you have the parent or parents establish who gets what!
doesn't mean she won't try some shite though, even if it's just begging
Posted on 1/6/25 at 2:39 pm to Snipe
quote:
Snipe
Proverbs 13:22
A good man leaveth an inheritance to his children's children but a sinner's wealth is laid up for the righteous.
If the children dont follow God and are not raised in accordance and dont do the same, they will squander it, which is the case 90% of the time in this country.
Posted on 1/6/25 at 3:20 pm to Jmcc64
quote:
mother is somewhat obsessed with not "losing" her investments so that we'll have an inheritance.
Sounds like my mom. She is a smart woman and has done well. If she is unsure she confides in me. I’ve met her money manager and he is a sharp dude.
Posted on 1/6/25 at 3:22 pm to sparkinator
quote:
My son would blow it all in 6 months. And have zero to show for it.
My daughter will build upon it and live off the interest
I’ve already told her to be prepared to get it all and take care of her brother.
Did you tell your son what your plans are?
I guess it depends on the dynamics between the two of them, but I’d imagine that the son will resent her and the daughter will resent you for imposing that kind of an obligation. Unless she’s just always looked after him.
Posted on 1/6/25 at 3:22 pm to fareplay
I’m in that very situation. Six inheriting “kids”. All of them are doing very well financially, but there are two exceptions that are making me consider your question. One is a doctor who is married to a doctor, and combined they make almost $2 million per year. Another is a professional, as is her husband, so not much different than the other four, but it appears they will not have children, so they are effectively much richer.
My wife and I are considering bequests that are unequal. We would not try to bring them all to the same level, because that makes all of the successes of the top earners meaningless. But we will definitely give a little extra to the others. Still not sure what to do about my daughter with no children. We will probably give her the same as the other four.
My wife and I are considering bequests that are unequal. We would not try to bring them all to the same level, because that makes all of the successes of the top earners meaningless. But we will definitely give a little extra to the others. Still not sure what to do about my daughter with no children. We will probably give her the same as the other four.
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