Life How much do you expect to inherit (or did you inherit)? - Page 2

**Rain Man** · 10:01 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.

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

Quote:

Originally Posted by KurtCobain

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

Quote:

Originally Posted by MTG#10

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

Quote:

Originally Posted by Iowanian

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

Quote:

Originally Posted by Saul Good

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

Quote:

Originally Posted by Rain Man

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

Quote:

Originally Posted by Rain Man

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.

Stewie · 03-21-2012, 04:45 PM

Quote:

Originally Posted by Saul Good

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

Quote:

Originally Posted by Stewie

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.

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

View Poll Results: How much do you expect to inherit (or did you inherit)?
Not one plug nickel.	53	40.77%
$1 - $10,000	6	4.62%
$10,001-$50,000	18	13.85%
$50,001-$100,000	11	8.46%
$100,001-$250,000	10	7.69%
$250,001-$500,000	11	8.46%
$500,001-$1 million	7	5.38%
$1.01 million - $3 million	9	6.92%
$3.01 million - $5 million	2	1.54%
$5.01 million - $10 million	2	1.54%
$10.01 million - $25 million	0	0%
More than $25 million	1	0.77%
Whatever I get will be donated to help the federal deficit.	0	0%
Voters: 130. You may not vote on this poll

03-20-2012, 09:54 PM
Rain Man Seize life. Be an ermine. Join Date: Jul 2001 Location: My house Casino cash: $-692449 VARSITY	How much do you expect to inherit (or did you inherit)? 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. Last edited by Rain Man; 03-20-2012 at 10:01 PM..
Posts: 145,526

03-20-2012, 10:30 PM	#16
KurtCobain legend Join Date: Oct 2006 Location: Independence, MO Casino cash: $-3347903	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.
Posts: 28,546

03-21-2012, 12:44 AM	#18
Kyle DeLexus Opie and Anthony XM 105 Join Date: Nov 2008 Casino cash: $10002400	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.
Posts: 7,910

03-21-2012, 03:59 PM	#19
MTG#10 Mammoth penis Join Date: May 2006 Location: Springfield Casino cash: $7014386	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.
Posts: 11,437

03-21-2012, 04:04 PM	#20
Donger "Think BOOM!" Join Date: Nov 2003 Location: 33.675° N 106.475° W Casino cash: $6819900 VARSITY	I don't know, but I would imagine in the low seven figure range. __________________ I think the young people enjoy it when I "get down," verbally, don't you?
Posts: 191,135

03-21-2012, 04:09 PM	#21
bevischief .... Join Date: Apr 2009 Location: Somewhere Kansas Casino cash: $7729352 VARSITY	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.
Posts: 27,771

03-21-2012, 04:17 PM	#23
Iowanian Supporter Join Date: Aug 2000 Location: Utopia Casino cash: $1668454	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.
Posts: 62,945

03-21-2012, 04:30 PM	#25
Stewie MVP Join Date: Oct 2006 Location: West of the Equator Casino cash: $-1830099	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.
Posts: 13,871