re: How Many of You Have Inherited Significant Assets?

Extremely significant.








Integrity and a good name.

My cousins just inherited something like $4,000,000 each from their grandparents last year.

I sadly didn’t share those grandparents with them .

One is pissing it away, the other is still working and invested it all, plus got everything set up for their kids. He’s doing it the smart way, though I’d have retired yesterday if I were him.

I'm fairly certain my wife will inherit at least a half million when her parents both pass away. It could be more, I'm not sure though. They used to be very open about what they had until about 15 years ago, then they shut up. Somewhere around the year 2012 or so, they had enough money invested at the time that one day the marked went up a lot and in that single day, my father in law told me his balance increased by $200,000. That was then, and it's gone up a shite ton since then, so I'm sure the total amount is pretty substantial today.

They invested lots of money every single payday from the 1970's through mid 2000's when they retired and then her dad inherited his mom's old Exxon stock through employer stock purchase plan. I'm unsure what it is, but that's around the time they stopped talking as much about what they have so who knows, my wife could inherit millions when they both die and she might wind up being my sugar momma. And I'm ok with that lol.

I, on the other hand, will be lucky to inherit $150k whenever that time comes I'm perfectly fine waiting a very long time for this one, too. Inheriting money means someone very close to you has to die, and I'd trade whatever my inheritance is going to be with never losing my parents if I could.

Laugh if you will.

I’m on a balcony on the Côte d’Azur overlooking the Med and sipping a beautiful Chablis that room service brought up.

But there was a time when $5k would have meant a hell of a lot to me.

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Man no offense but I honestly feel for folks that would consider $5k a significant inheritance. I’ll count my blessings.

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It wouldn’t be for me. Now. But it would have in the past.

I’m just wondering how many are (like me) at zero when it comes to inherited wealth. That’s why I set it low. Probably could have phrased it better.

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Nice try, IRS

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Inheritance isn't taxed.




*usually.. there are some exceptions, notably any pre-tax retirement accounts.

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He’s doing it the smart way

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still working

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just inherited something like $4,000,000

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For some reason when my grandparents on both sides passed, my parents decided to distribute some assets to other family members and didn't give anything with real monetary value to me or my siblings. I get it, none of us really had a need, but it would have been nice at the time to set aside for our children.

On my Dad's side, when his mother passed, it took a while to get the house ready to sell. She had been in a wheelchair and we had installed lift chairs, a big ramp out front, widened doorways etc. When he and my aunt sold it, my dad gave the bulk of it to his sister, and she turned around and bought her daughter a new car with some of it. Only child, had been through law school, and has done very well for herself. Never married and no kids. Had they divided it evenly among everyone, I probably would have started or added to college funds for my kids. Like I said, we had no need for it, but it would have been a nice way for my kids to remember their great grandparents by.

On my Mom's side, pretty much the same thing. She and her sister sold the house, and my mom bought a piece of property down near where her sister lives to retire to. Her sister took my grandmother's car, and gave a good amount of cash to her daughter, who had been through a divorce and had two kids. She's the type that is always complaining on Facebook about struggling to stay ahead, but every year they go on a cruise, she's constantly getting her hair and nails done, has her kids in a private school etc. That money was gone in less than a month on a vacation, a car, and she's still struggling. No sense of saving it for a rainy day, just money in and immediately back out.

I did inherit some guns from both grandfathers, and we divided up some old cast iron cookware among all the grandkids. I also ended up with an old chest freezer. That's pretty much it. None of the cash would have been significant or life changing money, but it would have been sitting in an account earning something for 15 years by now and with my oldest going off to college soon it would have been nice to pass on to her instead of a cousin blowing it on a cruise.

To each his own! He's always been a huge investor and he actually inherited probably a few hundred thousand or so about 20 years ago as well, so the man has never hurt for money. Plus, he makes very good money doing what he does already. He's one of those who can't stop without going crazy.

I on the other hand would go crazy if I COULD stop but don't.

Like I said, whatever floats his boat. I know I damn sure would've told my employer to go frick themselves the minute that money touched my account.

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but there is an estate tax on estates valued over $15M, a problem 99% of people will never endure.

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That reminds me, I should buy a powerball ticket after work today.

Someone has to win, and I'd love nothing better than to give my kids the problem of paying estate taxes one day

Right.. some exceptions. If you're pulling in a $15m estate it's probably in a trust or something to dodge the taxes anyway. If they're smart.