Do you plan to leave an inheritance? (2015, state, retiree)

[LookingatFL]

Whatever I have left will go to a charity.

[HappyTexan]

I am not planning for it but whatever is left over after I'm gone will be the "inheritance".

[StealthRabbit]

We gave our excess (not much) by creating family foundation / donor advised fund while we were in heavy tax yrs. (Age 35 - 45)

There is enough to support our gifting through perpetuity

Our kids will manage gifting, and so will grandkids...

As soon as our kids were beyond college age and on their own, we changed the trust / wills to direct excess to our (small) foundation.

designated the houses and commercial props to go to non-profit agencies we have supported since we were age 17.

a remainder is set aside for our surviving parents and siblings (poor), none to our kids. They are not totally impressed, but they recognize our values (We have lived (worked) to give all our lives.. drive a $35 car and eat on $100/ month. It is no big deal.. we are blessed with a great view! and great friends and family). Kids will survive (if they can get healthcare (Which we cannot get).

[joe from dayton]

When the time comes, I guess the kids can sell whatever I own.

[mlb]

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.

[Paka]

We have planned and prepared, but no one knows the future. Having 5 retirement incomes (3 pensions and Social Security x 2) we should be able to hopefully live without having to take a dime from our 401K/TSP programs. Being military retired, medical care is not quite the concerns it is for others (not bragging, just entering that fact into the equation).

We had fully intended to divide any assets equally between our children at the time of our demise, but with a single special needs grandchild, we had to rethink our plans.

We have explained to our kids that his NEEDS far out way anyone's wants, and we are grateful that our other grandchildren have been blessed with great health an abilities. Without significant change in the current status (our autistic grandson is 4 1/2) our assets have been protected to allow for his needs as he ages. We have secured an attorney that specializes in "protecting" him from the assets that we leave to ensure that they are set up to compliment his needs, no disqualify him from entitlements/services he might require and be entitled to. We are grateful our children understand and are on board, and that they too feel the need to ensure that our little man's needs are met as a family, regardless of what we must do to secure his care and treatments.

I think whenever a special needs that appears to be a potential life long financial challenge appears, it forces you to reconsider the distribution from equal to need. I am grateful our children understand his needs come first, and what is left would be equally distributed should the needs no longer be there.

[Rubi3]

What I leave is totally dependent upon how long I live. I've already given plenty to both my children and my grandchildren. They all seem to be doing well.

[ABQ2015]

Most of my retirement income will come from a pension and social security with only 1/4 or so from a 401K. My plans are to spend it at a conservative rate to last until I am age 95 or so. Unless I live to be a very old age or end up in a nursing home for many years, I should have some money left from my 401K and home. I don't have a husband or children but do have a will and beneficiary papers leaving my estate to my siblings and their children. It's not my goal to leave an estate but I'd never try to spend it all for fear of outliving my money.

[rjm1cc]

You might want to plan on living forever so that means you will be leaving some assets to someone? Maybe your spouse.

[Gerania]

Not really. I've made plans, but I have no idea how long I'll live or what my expenses will be later in life.