06-22-2008, 11:11 AM | #1 (permalink) | |
Tilted Cat Head
Administrator
Location: Manhattan, NY
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Inheritence: Have you ever gotten one?
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After watching many people just eat up home equity as though it were an ATM machine during the 80s and 90s, I've solidified my belief that there is no inheritance or retirement for many. Maybe my financial outlook is far to conservative for some, and archaic for others, but you can't spend your $1 more than 1 time. The family had great wealth at one time. I personally never saw a single penny of it. Some jewels and antiques were passed from my great grandfather/grandmother to my father, but the bulk of the inheritance was split by 9 brothers (grandfather and his siblings) which left pretty much nothing left to grow. My paternal grandmother passed away a number of years ago, and I didn't even get any personal effects. In order for her to qualify for Medicare lots of her personal money and effects were divested and distributed. I didn't care either way, but she had many grandchildren (I think about 23) so again even if she had any money it would be minimal. My parents are planning something, some sort of trust or another. My sister and I had always agreed that we'd divy up art/antiques and jewelry. I don't have any interest in the jewelry, she doesn't have any interest in the art/antiques. I don't have any interest in the money if there is any left. My parents planned very well for their golden years, or so they hope. I don't expect to get any money or for them to have any money left over. Skogafoss had an aunt pass away that left her some money not alot but something more than a night out on the town.
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06-22-2008, 11:45 AM | #2 (permalink) |
Kick Ass Kunoichi
Location: Oregon
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I received some money when my maternal grandfather passed away. My paternal grandfather's money was all in an IRA that passed on to my father, uncle, and their much younger sister (who promptly cashed it out and complained that it wasn't very much, well no duh, you had to pay a fat penalty). I also received some stuff--a television/VCR combo from my maternal grandfather's death and a Dodge Dakota truck, and a large television and some furniture from my paternal grandfather. What I really wanted and valued went to my aunt instead (not that she deserves it)--my oma and Grandpa's wedding rings. I wouldn't be surprised to find out she had pawned them by now. Supposedly she has promised my mother that they will be passed on to me at some point; I never expect to see that day.
Some things of my parents have more sentimental value than others, and it's those things that I want--my great-grandfather's harmonica and his tiger clock, my mother's rings, my dad's class ring and his Civil War books. My dad also has a sculpture in his possession that he made for his father when he was just a little boy--it looks like a slug but my dad swears up and down that it's a seal. It comes with a story. Things like those are what I want to hang on to. Money is irrelevant--I just want to make sure my mother is taken care of if my father dies first, and vice versa. I know I have to help my uncle execute my father's estate when the time comes, and it's not something I look forward to or try to think about.
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If I am not better, at least I am different. --Jean-Jacques Rousseau |
06-22-2008, 01:30 PM | #3 (permalink) |
A Storm Is Coming
Location: The Great White North
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Received some and expect to recive more. And it's pretty secure as my wife has contol of an irrevocable trust with her mother that requires her signature for anything. Her mom is secure because my wife is an honest person. It will help with retirement!
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If you're wringing your hands you can't roll up your shirt sleeves. Stangers have the best candy. |
06-22-2008, 01:45 PM | #4 (permalink) |
Leaning against the -Sun-
Super Moderator
Location: on the other side
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Yes.
I got inheritance from my grandmother (some personal effects, jewellery, furniture) and also from a woman who was like a grandmother to me and recently passed (same type of things as with my gran). I wasn't expecting it but I was glad to have some of their most valued items. Among the items I have inherited that I most value are the necklace my grandfather gave to my grandmother for their engagement, several old photographs, a beautiful antique side table in mahogany, and an antique Singer sowing machine. When my father passed, I inherited most of his personal effects and belongings, among them watches, artworks, furniture, thousands of books and CD's, a car, a house, and several other items. My most cherished item is his old mandolin. But I also inherited some of his debts...that part wasn't so great but I knew it was coming because I knew he was bad with his money. I think if people know how to manage their money, there is no reason why they shouldn't be able to pass something on to their relatives, however small.
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Whether we write or speak or do but look We are ever unapparent. What we are Cannot be transfused into word or book. Our soul from us is infinitely far. However much we give our thoughts the will To be our soul and gesture it abroad, Our hearts are incommunicable still. In what we show ourselves we are ignored. The abyss from soul to soul cannot be bridged By any skill of thought or trick of seeming. Unto our very selves we are abridged When we would utter to our thought our being. We are our dreams of ourselves, souls by gleams, And each to each other dreams of others' dreams. Fernando Pessoa, 1918 |
06-22-2008, 02:07 PM | #5 (permalink) |
I read your emails.
Location: earth
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I received a little bit when my grandmother past away, not a lot but some.
When my mom passes away I will either receive a great sum or not much at all. Not sure how much she has as we just don't talk about money. I know she won the lotto (never talked about how much) and some other smart ventures in her times plus a good career but I also know she likes to visit the casino lol. she is a pistol and having fun in life right now. I hope never to find out what the answer is. |
06-22-2008, 02:21 PM | #6 (permalink) |
Getting it.
Super Moderator
Location: Lion City
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I received an inheritance when my father died, but he didn't die of old age. I was more shocked to see that almost 50% of it went to pay taxes... taxes that he'd already paid on money earned.
I suppose if he had lived a full life he would have used up a lot more of the money.
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"My hands are on fire. Hands are on fire. Ain't got no more time for all you charlatans and liars." - Old Man Luedecke |
06-22-2008, 02:39 PM | #7 (permalink) |
Junkie
Location: New York
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I got a small inheritance when my father died and when my stepmother died. I'm supposed to get an inheritance from my Grandmother, but she just went into a nursing home and the state agency that administers Medicaid is trying to get money even though the property was transferred 15 years ago. (Her life use rights may have messed that up).
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06-22-2008, 03:12 PM | #8 (permalink) |
Junkie
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I received a few hundred bucks when my grandma died, it was a bit unexpected. I honestly don't expect to receive any inheritance because even though my family is very frugal there just isn't much there to receive. I'll consider myself lucky if I don't have to pay off any relatives debts.
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06-22-2008, 03:56 PM | #9 (permalink) |
Psycho
Location: Massachusetts
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I've never gotten an inheritance personally and I don't expect one in the future. My parents are strapped by the very things mentioned in this article and have taken out a reverse mortgage to help finance living. I'll get some jewelry and personal stuff, but I don't expect much in the way of hard cash.
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"Never regret something that once made you smile." |
06-22-2008, 04:47 PM | #10 (permalink) |
Location: Iceland
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Received money from my father's accidental death (at age 32) before I was born. Not the kind of money I ever wanted to have, but it was there for me, nonetheless.
My grandma gave me an early inheritance, which was just enough to bring me to Iceland to live... and what turned out to be the defining year of my 20s, if not my life (that remains to be seen). I have always felt a significant level of obligation and guilt related to both of these "inheritances." I have imposed a great deal of pressure on myself to do right by the sources of this money, so that they would be proud of the way I used it, and never ashamed. I was somewhat relieved that when my maternal grandmother died, she had little left to give anyone, let alone me. It made it easier, somehow. More clarity for grief, rather than guilt.
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And think not you can direct the course of Love; for Love, if it finds you worthy, directs your course. --Khalil Gibran |
06-22-2008, 08:19 PM | #14 (permalink) |
Insane
Location: left coast
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I have never gotten an inheritance. My parents have been pretty successful in life and so I wouldn't be surprised to get one when they pass, but I don't expect that to happen for a long, long time. And when it inevitably does happen, I could never spend that money on myself or for my own personal benefit, like for a vacation or something. No way. I'd just feel way too awkward and/or guilty. My plan is for it to go towards my currently non-existent child's college fund. They'd approve of that.
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06-22-2008, 08:40 PM | #15 (permalink) |
Insane
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While this isn't an 'inheritance by death' situation, my mother did give me the diamond from her original wedding setting (the band had broken so she replaced it with a whole new ring) that I had set in a new setting for my engagement ring. I love the story that goes along with the ring now.
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"Mommy, the presidents are squishing me!" "Using the pull out method of contraceptive is like saying I won't use a seat belt, I'll just jump out of the car before it hits that tree." Sara |
06-22-2008, 08:55 PM | #16 (permalink) |
Young Crumudgeon
Location: Canada
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My sisters and I received one third of my grandfather's assets between us when he passed away, as well as a payout from the life insurance. The reasons for this are not worth going into. I don't think any of us actually wanted the money, but it was better than the alternative.
I don't actually know if I'll be receiving anything when my mother passes. The hope is that it will occur many years from now, and I'd rather she spend her money on stuff to make her happy while she's here than give it to me when she's gone. I can always make more money; seeing the people I love get the most out of life is more important to me.
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I wake up in the morning more tired than before I slept I get through cryin' and I'm sadder than before I wept I get through thinkin' now, and the thoughts have left my head I get through speakin' and I can't remember, not a word that I said - Ben Harper, Show Me A Little Shame |
06-23-2008, 04:07 AM | #17 (permalink) |
bad craziness
Location: Guelph, Ontario
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I received a small inheritance when my grandmother passed away.
My girlfriend's grandparents actually just gifted us a good sum of money so that we could use it as a down payment on a house so that instead of getting it after they passed away we got it now while they can see us enjoying it.
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"it never got weird enough for me." - Hunter S. Thompson |
06-23-2008, 06:46 AM | #18 (permalink) |
Evil Priest: The Devil Made Me Do It!
Location: Southern England
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My maternal grandfather died when I was 10 and left everything to his wife.
She died when I was 24 and left me £800, which I used to pay for my fiancé's wedding ring and part of the honeymoon. It was one of the most upsetting things about getting divorced, that I'd spent the money my grandmother left me on this woman - because I know it would have bothered my grandmother. My paternal grandfather was gone before my dad grew up, and I never knew him. My paternal grandmother died with not a penny to her name, and not a care in the world - she used to say "we came into the world with nothing - if we go out in debt, we beat the house". My parents wills provide for their estates to be split between my brother and I - I'm not counting on anything much, because with both parents in their early 60's, it could be 20 years before they die, and as the OP states it could all be gone. Both of them have supported me financially and educationally for my entire life when they could, so I've already had the benefit. Both of them came from relatively poor families (they were the first generation to own a house, go to university, set up their own businesses) and the start they gave me is worth more than cash when they die.
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Overhead, the Albatross hangs motionless upon the air, And deep beneath the rolling waves, In labyrinths of Coral Caves, The Echo of a distant time Comes willowing across the sand; And everthing is Green and Submarine ╚═════════════════════════════════════════╝ |
06-23-2008, 01:38 PM | #19 (permalink) |
Here, yet not all there.
Location: Franklinville, NJ
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I have never gotten an inheritance, however my father did tell me yesterday that the family business is mine if I want it.
My mother-in-law is about $150,000 in debt so that should be fun as my wife is an only child. My wife has herself convinced that we won't have to satisfy those debts but I think she is wrong. Also remember, if you or someone you know becomes executor of an estate and you have a house full of stuff that you don't know what to do with... call a local auction house or an appraiser and get someone out there to see if you have anything worth money. Being in the auction business I have made a few peoples days when we find a painting or some other item that is worth tens of thousands...
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The taint. Conveniently located between the snack bar and the dumpster. |
06-23-2008, 04:19 PM | #20 (permalink) | |
A Storm Is Coming
Location: The Great White North
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Quote:
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If you're wringing your hands you can't roll up your shirt sleeves. Stangers have the best candy. |
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06-23-2008, 09:38 PM | #21 (permalink) |
The sky calls to us ...
Super Moderator
Location: CT
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My grandmother died two weeks ago and the estate is split evenly between her four children. I'd be lying if I said I don't care about the money (we're in serious debt since my dad died 6 years ago,) but on principle, if my uncle doesn't give us our share, I will have to fight the urge to put him through a woodchipper after the shit he's put us through over the years and when the family met after my grandmother died.
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06-24-2008, 04:34 AM | #22 (permalink) |
Eponymous
Location: Central Central Florida
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I got some antique jewelry and porcelain pieces from a great-aunt and a Pauline Trigere (sp) dress that was handmade for my grandmother in the 40s.
Those should count, ya?
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We are always more anxious to be distinguished for a talent which we do not possess, than to be praised for the fifteen which we do possess. Mark Twain |
06-24-2008, 04:51 AM | #23 (permalink) |
Junkie
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I don't know if this counts, but my grandfather gave me some personal items, including a ring he always wore (not terribly valuable monetarily, but had sentimental value, he wore it for decades), just before he died. He didn't do this for any of the other grandchildren.
My wife had a grandparent leave her a thousand dollars a couple years ago. My parents and in-laws are both fairly young and in good health. Both sets are comfortable but not rich. I don't really expect anything if/when that time comes.
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