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What did you do with your inheritance, if you ever got one?

(52 Posts)
ShouldHaveMarriedTimDowling Thu 19-Jun-14 07:30:20

Did you consider it a family asset or yours only as the labour of a lifetime the dps left specifically to you?
Did you share it with your spouse?
Did you blow some of it on something fancy that's just yours? Did you put it towards the mortgage?

Curious.

My parents are not dead. I have been in other wills. Small amounts. I bought art. Paintings that I liked that enhance my house. (Not investment/storage items) I'm enjoying them and they will likely hold value. And I think of the people every time I look at them.

Hairylegs47 Thu 19-Jun-14 07:34:03

We bought a huge tent and all the gear. That way the whole family could enjoy it for years.
Sadly some scrote stole the trailer a few years after, so camping lost it's appeal.

CalamityJones Thu 19-Jun-14 07:38:40

Dh and I received three inheritances in a year (it was a bad year!). One came from his side of the family, the second two from mine. The first we used as a deposit for a house. We've not yet touched the others, they're stashed in ISAs and high interest savings accounts whilst we decide what to do - they may get used to pay for a bigger house, or towards dd's future school fees, or to start a new business. We treated all the money as completely ours, not separate.

We both know that we don't want to fritter the money away, so whilst we each took some money to pay for some extravagances - a couple of great holidays, a new bathroom - the rest is being looked after and will be used for an as yet undefined Something Big.

MrsDavidBowie Thu 19-Jun-14 07:40:30

Got a substantial onevwhen dad died..paid off mortgage, extended house and kept £10,000 for fun

ShouldHaveMarriedTimDowling Thu 19-Jun-14 07:46:39

MrsDavidBowie may I ask? were the 10k for your individual fun or yours, as a family, fun?

mrsnec Thu 19-Jun-14 07:50:46

Had a little bit last year. Paid off some debts, spent a bit on the house, bought a beautiful car. We only had the work vehicle before and now we have something fun as a runabout too but its secondhand so not extravagant. The house we live in isn't ours though so I regret that bit and wish we'd had a big holiday instead.

Moid1 Thu 19-Jun-14 07:53:16

£25k from gran - bought the kids a big trampoline, had a lovely holiday in Italy and paid off some mortgage.

foxdongle Thu 19-Jun-14 13:05:24

A few years ago from dh grandma- paid a chunk off the mortgage, a holiday to Ireland and some home improvements.
we always share everything, on my side I have a relative who regularly shares out their wealth so it evens up anyway.

VivaLeBeaver Thu 19-Jun-14 13:07:57

Dh inherited a fair amount, a small, cheap house back before the property market went nuts. He sold it for 30k. He also inherited some land. He saw that money as his.

I've recently inherited a fairly significant amount of money and invested in a buy to let. Dh has made it clear I'm responsible for repairs, etc. I've put the house in my name and am seeing it as mine.

If I'd kept the cash it would have been in my bank account.

MrsDavidBowie Fri 20-Jun-14 18:51:49

A bit went on family fun.
Most went on mine grin

Bert2e Fri 20-Jun-14 18:59:14

MIL died a couple of years ago - we paid off the mortgage and finished the the house - we'd done the construction but not decoration, carpets etc. Very boring really but it was the best investment long term as we are now mortgage free.

francesthebadger Fri 20-Jun-14 19:00:38

Small bequest from my Gran. Used it to transform a grotty little garden into luscious green tranquil oasis. We enjoy it almost everyday - and think of her.

weegiemum Fri 20-Jun-14 19:03:07

Dh inherited 1/3 of his grandmothers estate.

We paid off a chunk of mortgage, and bought a piano.

One of my dad's friends left me £20k. Crazy! We used the money to fund 2 years of theology college.

Pagwatch Fri 20-Jun-14 19:04:15

My grandparents either died before I was born or left me nothing. My dad left debt. My mother will leave nothing.
Dhs grandparents left everything to dhs parents. They are leaving everything to a school bursary type thingy.

I will never inherit anything hopefully.

expatinscotland Fri 20-Jun-14 19:06:11

Never had any and never will.

AnotherFurry Fri 20-Jun-14 19:09:10

I spent a little bit of mine on me to purchase something in their memory and the rest we put on the mortgage.

Although I saw it as shared money my DH encouraged me to keep back a bit of it to spend just on myself.

Heathcliff27 Fri 20-Jun-14 19:12:46

Recieved some money when my grandmother died, I blew the lot on a rolex

pearlgirl Fri 20-Jun-14 19:18:05

We extended the house so each child had their own room.

Apatite1 Sat 21-Jun-14 11:03:40

Never had any, may never get any! We do have two sets of parents with estates in the low millions but not taking anything for granted. It's their money to do whatever they want.

DoingItForMyself Sat 21-Jun-14 11:11:31

My cm told me not to do something boring like put it on the mortgage, but to do something fun with it.

Unfortunately we were on the verge of bankruptcy when she died, lost all the equity we'd built up over the previous years and we had to use it as a deposit on the new house.

Fast forward 8 years and stbxh is feeling hard done by as I want it back as part of the divorce settlement. In my mind my parents worked hard for that money and wouldn't want it being shared with the man who made my life a misery for 14 years.

I know that legally (& perhaps morally?) it is a family asset, as it was gained while we were married, to my dm and to me it was the potential for me to have a good future. I have sacrificed any spousal maintenance and any of his pension/future income to be able to stay in the family home and retain my contribution to it.

DoingItForMyself Sat 21-Jun-14 11:15:38

My DM, not cm!

Xcountry Sat 21-Jun-14 11:18:35

I was in care so mine sat in trust at the building society till I turned 16. I paid for my 16th birthday party, used some to do up the flat I got after leaving care and took 8 driving lessons then passed my test so bought a car. It was an A rec convertible rust bucket of a ford escort and I loved it, the roof leaked, the brakes were permanently shot, never had air bags or ABS or power steering and ran on leaded petrol but I LOVED it. Still miss it now. Used the rest to buy my baby stuff for DS1 - most of which I still have now.

SnottyHankie Sat 21-Jun-14 11:40:03

My mum will soon be giving my 2 DB's and myself £25,000 each - she doesn't want us to have to wait till she's gone to enjoy her money. We've already paid off our mortgage otherwise it would have gone on that.

I think I'll probably ask her to put £7,000 in an account for DD, I'll open an ISA, put some in my Santander 123 account (get 3% gross int) and maybe buy some premium bonds.

With the exception of the £7,000 which will be given to DD, I guess I see this as my money to do with as I want to (maybe add a dormer to attic conversion & change bathroom around which DP doesn't think is necessary, but I'd like). However, that said, it will very likely benefit us as a family, I'd never blow it on a holiday for just me or buy things that would only benefit me - IYSWIM smile.

Taz1212 Sat 21-Jun-14 17:22:00

I received a significant sum after my mother passed away. We used part of it to pay off the mortgage and some of it is being used to ease the cost of private school for DS <and in a couple of years, DD> . Otherwise it is invested- mostly in the stock market, but some other investments as well. I don't really view the money as "mine". It originally comes from my great grandfather who left Ireland with nothing, emigrated to Boston and then did rather well for himself. My father was raised and then raised me <and I am raising DC> under the belief that we are caretakers and unless we have some sort of horrendous financial catastrophe, the money is to be invested for the next generation. I feel I could take some of the growth but haven't to date.

PIL think I am mad and don't understand why I'm not spending it! [grin

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