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Old 10-27-2014, 09:14 AM
 
Location: Gorgeous Scotland
4,105 posts, read 5,525,929 times
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We're spending most of ours on travel with my husband. My two granddaughters though are the beneficiaries of my brokerage account, cash account, and I have 529s set up for university for them. My two US pensions are directly deposited into the cash account. It's getting spent very quickly now. And when we get too frail to travel a lot I'll find other things to spend it on. But the girls will get a minimum amount that isn't being touched.
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Old 10-27-2014, 09:58 AM
 
750 posts, read 1,431,064 times
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There will probably be some money left when I kick the bucket. Hopefully.

I've saved quite a bit, and invested well.

My clueless relatives will no doubt be disappointed that I left zero for them. After legally making financial arrangements for the care of any pets I may have when I shift this mortal coil, the remainder goes to a few deserving charities and a few dear friends.

I am currently single, in my 60's, with no siblings. The care of my elderly parents has been totally on my shoulders, with no respite. That means no trips, no time off. Full time care-giving is exhausting, and a few wonderful friends have been there for me and helped when I was at my end of my tether.

Aunts, uncles and cousins show up when there's free food the be eaten, but otherwise ignore us completely, for fear of having to socialize with my parents, or being asked to run an errand or take someone to an appointment.

They don't deserve to inherit a thing, and they won't. Surprise!
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Old 10-27-2014, 10:30 AM
 
13,389 posts, read 6,379,476 times
Reputation: 10022
Our current expenses are fully funded by our pension income, so our savings are gravy for now.

We have given the kids substantial amounts for downpayments on houses and other things.

What we have invested is earmarked for end of life care if necessary; if we don't need that they will inherit it.

Having said that, if we don't dip into our savings for anything, it could conceivably grow to a lot of money. Right now with four kids, its a reasonable inheritance. If it becomes too large, we may reconsider and include the grandchildren.
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Old 10-27-2014, 10:40 AM
 
526 posts, read 895,359 times
Reputation: 812
Quote:
Originally Posted by mlb View Post
We have no children - but with the cost of nursing care in the next 30 years I suspect Corporate Healthcare will take every last penny we own.

We'll probably die as Medicaid recipients.
us, too. If there is anything left, the surviving spouse (if coherent) can decide distribution. Hopefully, one of our 4 brothers will be alive/healthy enuf to appreciate anything left; we do not know nieces/nephews.
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Old 10-27-2014, 10:47 AM
 
Location: SoCal
6,418 posts, read 11,550,110 times
Reputation: 7093
Quote:
Originally Posted by CaliforniaGal1 View Post
I am the trustee of my husbands uncles estate. Before he died April 18th 2014, he told us he buried some Gold in the yard in a box, a safe deposit box I think. .... Hopefully some very nice person will find it someday!! I'll tip off whomever buys the house
Or use it for bait to get the yard cleaned up and the ground tilled. Something like this:

"Hello, is this the Sheriff's Office?" "Yes. What can I do for you?"
"I'm calling to report 'bout my neighbor Virgil Smith. He's hidin' marijuana inside his firewood! Don't quite know how he gets it inside them logs, but he's hidin' it there."
"Thank you very much for the call, sir."
The next day, the Sheriff's Deputies descend on Virgil's house. They search the shed where the firewood is kept. Using axes, they bust open every piece of wood, but find no marijuana. They sneer at Virgil and leave.
Shortly, the phone rings at Virgil's house.
"Hey, Virgil! This here's Floyd. Did the Sheriff come?"
"Yeah!"
"Did they chop your firewood?"
"Yep!"
"Happy Birthday, buddy!"
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Old 10-27-2014, 10:47 AM
 
Location: southern california
61,289 posts, read 87,117,353 times
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as i age that my friend is the number #1 question on everybody's mind.

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Old 10-27-2014, 10:51 AM
 
Location: SoCal
6,418 posts, read 11,550,110 times
Reputation: 7093
Barring catastrophe, we'll be leaving more than we now have. In that case, since I have no kids and family members on disability, I'll do something like setting up a special needs trust for them. DH has two kids, but both have estranged themselves from us, so I suspect he doesn't plan to leave them any inheritance.

But "catastrophe" seems to be more likely the older one gets. And looking at my elderly relatives and how they fared, I'll probably also die on welfare.
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Old 10-27-2014, 10:56 AM
 
Location: Midwest transplant
2,050 posts, read 5,916,683 times
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No children, two nieces who will inherit a specified amount when they reach age 30. Remainder going to charity. Contents of house (includes family heirlooms, jewelry, antiques, furniture) can go to nieces as well. They can move it, use it, sell it.
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Old 10-27-2014, 11:04 AM
JRR
 
Location: Middle Tennessee
8,117 posts, read 5,569,882 times
Reputation: 15575
Quote:
Originally Posted by TheShadow View Post
OH HELL NO! LOL!

Seriously though, we have no children and there is no one to leave it to other than sibs or nieces and nephews. My sibs will probably all go before me (sorry to say), and none of my nieces or nephews has really stepped up at this point to make them worthy of it. Of course there has never been a need for them to step up yet, so it remains to be seen if there will be any inheriting, or if any remainder will go to a charity of my choosing. I will attempt to spend it all before I go, that's my plan.
We are in the same position. Our nieces and nephews can have whatever is left, but we have told them not to expect a lot. Most likely whatever the house sells for plus whatever is still happens to be on the table when our time is up. We plan on spending it and donating some; not living our lives to leave money to relatives.
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Old 10-27-2014, 11:33 AM
 
Location: NE Mississippi
25,357 posts, read 17,004,259 times
Reputation: 36967
There will be money left over when we die.

A trust fund has been set up so that the children (both of them), who do not have experience handling large sums of money, will be paid monthly until they die or the money runs out.
Then the rest will go to a charity.
Grandchildren will not inherit.
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