Inheritances from people other then parents or grandparents (accounts, employee, range)
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We have a family friend (but he calls us his family) who is single, very wealthy and only has 1 sister and I believe 1 other kin (a niece, although there could be others, but I know of 1 for sure).
I don't expect it and have no reason to, but I wouldn't be shocked if he had something in his will or estate planning providing something for our family. Maybe kids college or something like that but again, not expected.
I never got anything from anyone. As a single person with no offspring, I have listed my inheritors as several charities and one animal shelter that will take whatever dogs I send them for life. I have never seen the need to round up some distant blood relative, whether you have close ones or not. Why not send your hairdresser's kid to college, or the cleaning people get a real surprise treat? If you have substantial assets, set up a foundation or a scholarship or something. I have never understood trying to find some distant cousin when there are so many choices for your hard-earned assets.
I inherited from my sister, although her 2 kids got the bulk of it.
My niece is the executor of my trust and the sole beneficiary; with explicit instructions that my nephew get nothing.
I am just curious, why?
I have never received any inheritance but I am young (26) and haven't witnessed any deaths of family members who are close. I am very very fortunate that I haven't though. It scares me to think about who might be the first. My mom did get $70K from my great grandfather (her grandfather). They were super wealthy when they died, $3million. They gave $1million to the church, another $500K to my grandfathers college and the remaining $1.5million was split across the family with their two kids getting $500K each and the grandkids getting the remaining $500K which turned out to be $70K each.
Originally Posted by Gandalara I inherited from my sister, although her 2 kids got the bulk of it.
My niece is the executor of my trust and the sole beneficiary; with explicit instructions that my nephew get nothing.
Quote:
Originally Posted by ChiGuy2.5
I am just curious, why?
Honest question, I'll type the first thing that popped into my head.
Because he's an idiot and I've never liked him.
He's the major mess-up in our family. Makes bad personal choices and bad financial choices in his life, then whines and blames everyone else. Nothing is ever his fault.
Because I vehemently disagree with what he did with the inheritance from his Mom.
Our father died, very suddenly, while he was in the process of giving $50,000 worth of land to a close family friend (almost like another son) to build a house. My siblings and I followed though and gave him the land as our father would have done if he would have been alive.
I had a aunt, that had never married, who divided her small estate between her siblings and a close family friend.
Honest question, I'll type the first thing that popped into my head.
Because he's an idiot and I've never liked him.
He's the major mess-up in our family. Makes bad personal choices and bad financial choices in his life, then whines and blames everyone else. Nothing is ever his fault.
Because I vehemently disagree with what he did with the inheritance from his Mom.
You did the right thing. There's no reason an idiot should get anything simply because he's related by blood. It's sad to disinherit a family member but sometimes it's necessary.
Yes it has happened to me. No blood relation, just good friends.
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