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View Full Version : Life How much do you expect to inherit (or did you inherit)?


Rain Man
03-20-2012, 09:54 PM
Recognizing that old people can find Anna Nicole Smith at any time, what are you thinking you'll end up with when the inevitable happens? If you're married, count both parents and in-laws, and don't worry about that pesky inheritance tax for these purposes.

If your parents/in-laws have passed away, please accept my condolences.

No need to share any numbers personally, and you can just vote in the accompanying poll.

Note: we're counting total worth, including cash, stocks, houses, racehorses, furniture, Bea Arthur memorabilia, automobiles, religious artifacts, livestock, planes, yachts, superyachts, dogs, superdogs, manservants, and anything else of value.

DenverChief
03-20-2012, 09:56 PM
Are we talking cash funds or net worth from business and property inherited?

KC Tattoo
03-20-2012, 09:58 PM
I didn't inherit anything from my parents dieing.

Rain Man
03-20-2012, 09:59 PM
Are we talking cash funds or net worth from business and property inherited?

Total worth. Good point.

WV
03-20-2012, 10:04 PM
Haven't a clue you morbid bastard!

Rain Man
03-20-2012, 10:06 PM
Haven't a clue you morbid bastard!

Are your parents those bag people who seem like they're homeless, but you suspect that they're really squirreling away millions of dollars?

BIG K
03-20-2012, 10:07 PM
Recognizing that old people can find Anna Nicole Smith at any time, what are you thinking you'll end up with when the inevitable happens? If you're married, count both parents and in-laws, and don't worry about that pesky inheritance tax for these purposes.

If your parents/in-laws have passed away, please accept my condolences.

No need to share any numbers personally, and you can just vote in the accompanying poll.

Seriously Rain Man? I know you are probably just wasting time and I have always enjoyed your posts and threads but , this is not a cool subject. First hand experience, inheritance hurts, no matter how much money is involved, if you really loved the person, it sucks.

Bacon Cheeseburger
03-20-2012, 10:08 PM
Not much.

MIAdragon
03-20-2012, 10:08 PM
My sister and I have told my parents to leave everything to what ever charity they choose. I cant stand the postmortem money grab that seems to ooze out all too often.

Rain Man
03-20-2012, 10:09 PM
Seriously Rain Man? I know you are probably just wasting time and I have always enjoyed your posts and threads but , this is not a cool subject. First hand experience, inheritance hurts, no matter how much money is involved, if you really loved the person, it sucks.

No offense intended, and my apologies for any perception of crassness. It's really intended to be more of a financial thread than anything else.

Bacon Cheeseburger
03-20-2012, 10:10 PM
Seriously Rain Man? I know you are probably just wasting time and I have always enjoyed your posts and threads but , this is not a cool subject. First hand experience, inheritance hurts, no matter how much money is involved, if you really loved the person, it sucks.
So how much did you get?

Gadzooks
03-20-2012, 10:10 PM
Only child PBJ

WV
03-20-2012, 10:12 PM
Are your parents those bag people who seem like they're homeless, but you suspect that they're really squirreling away millions of dollars?

I wish....I got my expensive taste honestly.

Morbid bastard!

La literatura
03-20-2012, 10:14 PM
However much dad's football card collection brings in. Probably $35.

La literatura
03-20-2012, 10:16 PM
Seriously Rain Man? I know you are probably just wasting time and I have always enjoyed your posts and threads but , this is not a cool subject. First hand experience, inheritance hurts, no matter how much money is involved, if you really loved the person, it sucks.

And it really sucks if your inheritance can't cover the funeral expense.

KurtCobain
03-20-2012, 10:30 PM
When my dad did himself in he had a half ounce of weed, pills, and sixty bucks. My mom was gone so I got all of that.

WV
03-21-2012, 12:14 AM
When my dad did himself in he had a half ounce of weed, pills, and sixty bucks. My mom was gone so I got all of that.

And you called my picture depressing.

Kyle DeLexus
03-21-2012, 12:44 AM
I'm going to put around $1million. When I get married, it'll be to someone that makes marriage worth it so I'll have to be getting $10mill+. If I don't get married I'll probably get around $3.50.

MTG#10
03-21-2012, 03:59 PM
I got 30 grand when I turned 18 from my father's death. It was gone by the time I was 19. Cant believe they released all that money to an 18 year old kid.

Donger
03-21-2012, 04:04 PM
I don't know, but I would imagine in the low seven figure range.

bevischief
03-21-2012, 04:09 PM
My mom is gone, dad re-married sold house we grew up in, paying for a new house for him and my step mom live to in and her condo that her son lives in and no rent and she is self employed and about 15 yrs younger than him. He just bought 2 new vehicles he is retired. He got about $200,000 when his dad died, so I only expect to see threading bills from lawyers.

Rain Man
03-21-2012, 04:13 PM
I got 30 grand when I turned 18 from my father's death. It was gone by the time I was 19. Cant believe they released all that money to an 18 year old kid.

Didn't invest it in Apple stock, eh?

Iowanian
03-21-2012, 04:17 PM
brideowanian and I have both told our parents to spend it...

Don't want their money, I want them to enjoy it. They worked hard for every penny.

Saul Good
03-21-2012, 04:24 PM
brideowanian and I have both told our parents to spend it...

Don't want their money, I want them to enjoy it. They worked hard for every penny.

What about life insurance?

Stewie
03-21-2012, 04:30 PM
My dad died when I was 29 and my mom a year later. There was a significant amount of money divided by six kids. I took my portion of the sale of their home and bought my home. The other money (which was a Keogh plan that has become an inherited IRA) I haven't touched except for the required distributions. It's my big safety net or early retirement.

Rain Man
03-21-2012, 04:36 PM
What about life insurance?

That's a good point.

I don't have kids, so at some point when the house is paid off and maybe when I'm retired I'm thinking maybe I'll drop my life insurance down to cover funeral costs alone. As long as my wife is comfortable on what we've saved, is there any reason to have life insurance when I'm retired?

Saul Good
03-21-2012, 04:42 PM
That's a good point.

I don't have kids, so at some point when the house is paid off and maybe when I'm retired I'm thinking maybe I'll drop my life insurance down to cover funeral costs alone. As long as my wife is comfortable on what we've saved, is there any reason to have life insurance when I'm retired?

Not really. It can be used to pay inheritance taxes, though that won't apply in your case. Beyond that, some people just like to leave a legacy.

Stewie
03-21-2012, 04:44 PM
That's a good point.

I don't have kids, so at some point when the house is paid off and maybe when I'm retired I'm thinking maybe I'll drop my life insurance down to cover funeral costs alone. As long as my wife is comfortable on what we've saved, is there any reason to have life insurance when I'm retired?

Yeah, life insurance is normally to help a surviving spouse with children to support. Once those obligations are done life insurance is a waste unless it's a company insurance policy or something similar.

If you have a $500K policy on your head with no reason for it, you're a target. :D

Stewie
03-21-2012, 04:45 PM
Not really. It can be used to pay inheritance taxes, though that won't apply in your case. Beyond that, some people just like to leave a legacy.

Inheritance taxes are sooo easy to get around it's laughable.

Rain Man
03-21-2012, 04:51 PM
Yeah, life insurance is normally to help a surviving spouse with children to support. Once those obligations are done life insurance is a waste unless it's a company insurance policy or something similar.

If you have a $500K policy on your head with no reason for it, you're a target. :D


Plus, why should I pay for my wife to take a luxury cruise with her second husband? I'm not seeing it.

Chieftain58
03-21-2012, 04:56 PM
400k mutual funds 200k other assets... 1year ago

InChiefsHell
03-22-2012, 08:18 PM
I said not one plug nickel because I'm hoping my old man spends it all and enjoys all his hard work before he passes away. I'll probably inherit something, but I don't like to think about it.

mlyonsd
03-22-2012, 08:28 PM
That's a good point.

I don't have kids, so at some point when the house is paid off and maybe when I'm retired I'm thinking maybe I'll drop my life insurance down to cover funeral costs alone. As long as my wife is comfortable on what we've saved, is there any reason to have life insurance when I'm retired?Basically no. When you start to reach 50-55-60 the premiums are so high your wife would be way better off if you invested that money elsewhere.

cdcox
03-22-2012, 08:47 PM
I always bought term life insurance with the plan of ramping it down as my retirement balance increased. Well, I'm 50 now, but not quite ready to to start decreasing my term life insurance. The market really sucked over the period of 2000-2008.

WhiteWhale
03-22-2012, 09:14 PM
Is it weird that I've never put one second of thought into this?

ChiefsCountry
03-23-2012, 12:03 AM
Probably for me around 1.5 to 2.5 million mainly all of it land. That is where are familys wealth is.
Posted via Mobile Device

Kyle DeLexus
03-23-2012, 12:09 AM
Plus, why should I pay for my wife to take a luxury cruise with her second husband? I'm not seeing it.

Is she hot? Will she inherit much from her family outside of you? Would she like to date a 24 year old?

Earthling
03-23-2012, 12:31 AM
I didn't see "The Earth" option. :harumph:

When Dad passed on I got his bible and his gun. Can't really say which one of those has helped me more overall.

BryanBusby
03-23-2012, 12:38 AM
I expect to get nothing, which I am fine with. Sisters are terrible with money and always broke and I'm not, so I expect they will get all of it which will get pissed away in a year tops.

KChiefer
03-23-2012, 01:04 AM
Cunno if we're fetching for 1% numbers, i'm in the 99.

DementedLogic
03-23-2012, 01:08 AM
Where's the option for inheriting debt?

Buehler445
03-23-2012, 10:18 AM
It all depends on on what land prices do between now and death (hopefully 30 years or so) and what their needs are at end of life. I can't imagine long term care (if they need it) will get any cheaper. Although dad told me to have an "accident" before he goes in there.

Bottom line, no clue.

vailpass
03-23-2012, 10:20 AM
tres gauche

raybec 4
03-23-2012, 10:27 AM
My family aint got a pot to piss in or a window to throw it out of. All we got is fuckin Floyd

mlyonsd
03-23-2012, 10:33 AM
It all depends on on what land prices do between now and death (hopefully 30 years or so) and what their needs are at end of life. I can't imagine long term care (if they need it) will get any cheaper. Although dad told me to have an "accident" before he goes in there.

Bottom line, no clue.Am going through the long term care thing right now with my mom. She fell last Nov. and is now stuck in a nursing home. $5300/month.

Mom and dad now wish they had looked into long term care insurance.

mikeyis4dcats.
03-23-2012, 10:43 AM
half of the house and whatever other assets remain. Probably less than $125k. It will all go into a fund for my children's education when it happens.

Dayze
03-23-2012, 10:44 AM
I have no idea. I'd say not much, if any at all.

I'm fine with that

GordonGekko
03-23-2012, 10:49 AM
I was sure this would have everyone voting $25+ mm

Amnorix
03-23-2012, 10:49 AM
That's a good point.

I don't have kids, so at some point when the house is paid off and maybe when I'm retired I'm thinking maybe I'll drop my life insurance down to cover funeral costs alone. As long as my wife is comfortable on what we've saved, is there any reason to have life insurance when I'm retired?


No.

Hoover
03-23-2012, 11:01 AM
All I know is that when my wife's parents pass, all i want is the contents of the two gun safes, her brother and sisters can fight over the rest.

Hoover
03-23-2012, 11:01 AM
I was sure this would have everyone voting $25+ mm
Only Clark has voters for that

chasedude
03-23-2012, 11:12 AM
I'd inherit their house and the things in it, that's about it

chasedude
03-23-2012, 11:13 AM
Wow, who's the rich bastard going to inherit 25 mil? Will he/she be my friend :D

loochy
03-23-2012, 11:14 AM
Are your parents those bag people who seem like they're homeless, but you suspect that they're really squirreling away millions of dollars?

Mine are kind of like that...maybe not millions, but they have a good chunk. My dad whines and whines about buying stuff like toilet paper and he won't buy new clothes. He's afraid to turn on the heater or a/c because it costs too much so it's incredibly uncomfortable in their house during all seasons.

However, he buys 2 brand new cars every year and they outright own two decently large houses with a good amount of land, 1 of which they rent out. And I KNOW they have a large savings wad since they are big time savers and they didn't have to pay for my college (scholarships)

King_Chief_Fan
03-23-2012, 11:14 AM
I expect nothing as I have spent my career getting myself ready for my financial needs.

I think in-laws and mom should spend every penny and enjoy life to the fullest.

Pestilence
03-23-2012, 11:33 AM
I'm not expecting anything.

vailpass
03-23-2012, 11:34 AM
I was sure this would have everyone voting $25+ mm

To go with their 14" cocks, 600 pound bench press and twin sister Playmate girlfriends.

blaise
03-23-2012, 11:40 AM
Depends on how long my mom lives, I guess. She's like 65 and retired and travels a lot. I'd be fine if she lived to be over 100 and used it all up.

Dayze
03-23-2012, 11:46 AM
I wish I was related to Dane so I could get in on his fortune.

HemiEd
03-23-2012, 01:31 PM
That's a good point.

I don't have kids, so at some point when the house is paid off and maybe when I'm retired I'm thinking maybe I'll drop my life insurance down to cover funeral costs alone. As long as my wife is comfortable on what we've saved, is there any reason to have life insurance when I'm retired?

That is exactly what we just did. No need for any significant life insurance anymore, just another form of socialism. We were paying $200 month premiums on mine, might as well bank it.

3rd&48ers
03-23-2012, 01:35 PM
Nothing..... As it should be

El Jefe
03-23-2012, 01:54 PM
I hope nothing, they earned the right to spend every nickel on themselves. They gave me everything I ever needed, and they take care of their grandchildren (my siblings kids) extremely well, they deserve to do what they want.



On this note, there is nothing worse than watching the money grab from family members upon the death of a loved one. It is utterly disgusting to me.

3rd&48ers
03-23-2012, 01:57 PM
I hope nothing, they earned the right to spend every nickel on themselves. They gave me everything I ever needed, and they take care of their grandchildren (my siblings kids) extremely well, they deserve to do what they want.



On this note, there is nothing worse than watching the money grab from family members upon the death of a loved one. It is utterly disgusting to me.

AMEN!!!!!!!!!!!!!

BWillie
03-23-2012, 02:48 PM
I'm an only child, and my dad is easily a millionaire on paper. Probably has property worth 1.5 million, and total assets around 2.5 million. I just have my step-brother who my dad hates, and his wife who my dad also hates. I think I'm in pretty good shape. With that said, I hope he lives to be into his 100's.

Pasta Giant Meatball
03-23-2012, 05:43 PM
Wow, who's the rich bastard going to inherit 25 mil? Will he/she be my friend :D

Probably one of the same ones who said they ran a sub 4.2 40.

KC Jones
03-23-2012, 06:36 PM
I just inherited in the 10-50k range. Close to 10k, but even that much was a surprise. My Dad always said we shouldn't expect their to be anything after he was gone. I was happy he didn't out live his money, but only because he would have been too proud to let us know he might need help. I spent part of it on something that I think my Dad would appreciate - a 20' x 30' concrete pad and a high end basketball goal for his grandsons. He was my first bball coach, and I got the news he had passed half way through my first season of coaching my son's team.