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Has anyone here ever recieved or known anyone who ever recieved any inheritance money from someone other then a parent or grandparent. For instance a godparent, friend, mentor, uncle, aunt, sibling, employer etc?
Additionally, under what circumstances, would you be willing to include someone in your estate plan in addition to your spouse, children, and grandchildren (for instance in-laws, siblings, cousins, nephews, nieces, friends, employees, etc)?
Has anyone here ever recieved or known anyone who ever recieved any inheritance money from someone other then a parent or grandparent. For instance a godparent, friend, mentor, uncle, aunt, sibling, employer etc?
Additionally, under what circumstances, would you be willing to include someone in your estate plan in addition to your spouse, children, and grandchildren (for instance in-laws, siblings, cousins, nephews, nieces, friends, employees, etc)?
Thankw
I plan on leaving a portion of my estate to my best friend, who is also like a sister & mother to me. My husband supports this as well.
Didn't get any inheritance from my parents or grandparents, but did have an aunt that distributed her money equally to all her nieces and nephews and got a little there that coincided with some medical expenses. Life can be strange.
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.
Location: Chapel Hill, NC, formerly NoVA and Phila
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My husband got a letter in the mail several years ago from an attorney saying that he was receiving an inheritance from a deceased relative - I cannot recall who it was - something like his grandfather's sister. The letter did not say how much it was, so it was fun to think about how large it could be. It turned out to be about $800 if I recall correctly. So it didn't make us rich but it was nice to receive. No one in my family ever left an inheritance because they never had any money.
As someone who is involved in the estate planning field, it is uncommon but not rare for individuals to leave at least some amounts to people other than their lineal descendants as part of their planning, even when they have surviving issue. Often this is other relatives (siblings, nieces and nephews, for example) but sometimes can be unrelated persons. The amounts are usually small relative to their entire estate.
I'm excluding estate planning involving business partners (buy-sell agreements and the like) from the above.
I received around $20k from a great-aunt. Actually, it was my dad's share but he died when I was a child and before his aunt.
My maternal grandparents were quite wealthy and had an estate to be divided amongst all 7 of their kids. If one died prior to my grandparents their share was to be divided by their children. Three of them did die before their parents but none of their kids ever saw a penny. Except for the grandparents oldest daughter who seems to have inherited all of it. One set of cousins actually sued her to get their share but they never did. Now her remaining four kids are fighting tooth and nail over a quite sizable estate and it's been going on for a couple of years now. Seems to me like my grandparents money has caused a lot of trouble and problems but, since I never got any, I don't worry about it.
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