Do you 'Expect' to Benefit from Your Parent's Will

[Pembsgirl]

My parents had nothing, so having no 'expectations' of an inheritance in years to come, I worked hard for everything I've got, but so many people own their own homes now, so am I being unreasonable in thinking that the vast majority of people these days 'expect' to benefit from their parent's Will, and wonder how they'd feel if parents left it all to people other than their children?

Nope, don't expect anything, DM expected to leave siblings and I something but she died, DF remarried and has now died, leaving everything to SM, who entered the marriage with nothing! although will is/was set up as some sort of trust, not sure if she can change to leave it all to her DC, I suppose I should get the will checked over although guess we'll find out if she passes. Am pretty well set up anyway, life is too short to be bitter, one thing though, my will is set so my DH & DC benefit and vice versa, not having my DC miss out unless to pay for care.

@Beansandcoffee I'm aware of that (although I think it may have been written into my fathers will that my brother and I can't be disinherited). I'm just stating how it is at the moment. Anyway I'm not relying on the money for anything. I'd much rather have my dad back.

I've already inherited as my parents died prematurely. That's been invested so I can retire early.
PIL are nudging 80. They are very well off and we believe have put money aside for the four grandsons uni fees (don't know what happens if they don' go to uni!)
They will still have plenty left, plus a three bed in a desirable area. FIL boasts he has more money coming in now than when he was working but they spend nothing tight DH and SIL urge them to enjoy it, but no, it sits in the bank and everything's done on the cheap.
I know they plan to leave it to DH and SIL but care fees could put paid to that. I don't understand the mentality of stockpiling it just to pass on to those who will spend it!

Yes and no.

I hope that they will live a long time and spend it but I am their only family really. They live in a house that they bought for £13k but is now worth £500k. They have a lot of money in shares.

That said, my mother is nearly 70 and runs 7 miles a day. She’s going nowhere soon.

In my culture things tend to get left to the sons and not the daughters. I therefore don't think I will inherit any of my parents sizeable estate

I don't think my mum will have much (if anything) left to leave. She is not well off and not sensible with money and I worry about her managing in retirement (she's still working atm). If she did have anything though I'm pretty sure she would leave it to her children (equal split).

On the other hand my dad and stepmum are well off and make careful financial decisions, I expected them to leave us money (again, equal split) and actually dad told me that's what they've done. I didn't ask him! It just came up in conversation when I said DH and I had made wills, and he mentioned it.

It's a rather awkward topic isn't it, no one likes to think of their parents dying

In Scottish law, the children are guaranteed equal shares of a third of the estate, whatever else they are left in addition. So - even if a sibling has fallen out with you all, and has been "no contact" for decades, they still get assigned their equal share of a third of the state, whatever the parent(s) personally think of that particular child....if that child cannot be tracked down by the executor, their share must stay in an account for them for twenty years after the probate of the will is completed ( not twenty years from the death of the surviving parent, but the actual dispersal of funds). So, you could be skint in later years, your share spent, but your absent sibling would still have all that cash in a bank account, unbeknownst to them...! ..

I expect to and would be surprised if I didn’t but have made sure I haven’t banked on it by saving my own and building up my pension.

Care costs can be horrendous. A family member needed care for 2 years and wanted it in his own home. By the last year he needed round the clock care. His costs were £130,000 over 2 years.

A word of warning; My parents/grandparents are dead now but all promised to leave property/money in their will but this never actually happened. due to:

• other relatives raking/hiding assets
• carers stealing items
• care home fees taking up assets
• dementia, meaning they gave their money to others

It’s quite shocking really that even though I was named in several wills, I never received a penny

I expect my mum will have a few thousand to leave and will split it between her kids. So I will get about £800 maybe? DP got £2k when his mum died.

Given that I know the contents of DM, MIL, StepDF and DAuntie's wills then I'd be devastated if me / DH / DCs were no longer included as it would mean something has gone terribly wrong in our relationship. If there is no money left due to care fees or simply because they've spent it having a good time then so be it.

My dad died recently leaving everything to his wife, when she passes I will inherit from her

Maybe

I have 3 friends whose parents have re-married, step parent had inherited and then passed it to their biological children only. Or spent it, got remarried again and left it to new DH who had no loyalty or connection to them.

Parents who re-marry should, IMO, leave their money direct to their kids, leaving a lifetime interest in the house to their spouse as needed.

My parents have a modest house that they worked themselves to the bone to buy. It is left to me and my siblings. But they both have dementia and various frailties and care is costing £1k a week.

Don’t count your chickens.

I will inherit millions when my parents die. However I have not lived my life on that basis. I’ve made my own way.

My grandparents inherited their house, I'm not sure but I think my great grandparents inherited a decent amount too, my father died a few years ago and a decent amount of money came to me, I'd much rather have my father still! I feel the money I have that's given me some security and a lovely home, should in turn go to my children, seems only fair.
It obviously isn't fair that some people are lucky enough to inherit wealth and others aren't, honestly I'd support higher inheritance tax if everyone had to pay, but as society is inherently unfair, I'll pass the advantages I've been privileged enough to have on to my children.

My mum may leave debt. My dad intends "for the check that pays to put him in the ground to bounce"

I won’t, DH might.

Our children will from us but if they expect it I might reconsider. I dislike the way I’ve heard people waiting on inheritances.

I don’t expect anything, but by Norwegian law children are entitled to a minimum of 2/3 of their parents ‘fortune’. They both own their own House so if there is anything it will be from that i imagine, both enjoy travelling and enjoying life so i rather hope they spend their money doing that for many years to come

I will inherit a house and money but as pp said in a way it's wasted on me and would be better for my children as we already own a house. It will just make us richer and I probably will set most of the money aside for my children.

My late mother had planned to leave a useful amount, but a long illness and care costs swallowed it up.

Nope. Not now, house sold and all savings (£300k+) gone on care home fees for both.

If there is anything left it will be split between me and brother and sister.
However, mum is 80, a widow and from a long line of people who live to their late 90s so it will go on care

Well I know my parents have to leave me and my brother most of their inheritance as it's required under French law. I hope they will have spent a fair bit by then though! We already have the overall ownership of their houses (to avoid inheritance tax) so I'll know before then if they were to sell. If they don't then it'll be worth quite a bit I'd imagine and may be handy for my kids I suppose. But I don't plan on that basis. And they are very generous anyway so prefer to help us whilst they're still alive.

DM, FIL died years ago. MIL left DH a few hundred £ which he passed on to his sister as she needed it more. DF left all his (house, pensions, insurance policies etc) to his new girlfriend. I was only upset really as he never left even a token amount to the grandchildren. It would have been nice if he had given them a passing thought. My dsis is still furious about it. Inherited a very tiny amount from GPs.

No, my mum has left her house 50/ 50 split between my brother and her partner, i get nothing.. apart from my grannies ring, which granny gave me until my mum kicked off bigtime and said should be hers.
My dad died when i was 13 and had nothing.

I don't expect to. My dad goes on about how much he will leave us (and I normally tell him to please spend it) his wife will have all of it anyway and honestly I dont trust her to pass us anything. As is her legal right. He is older and in worse health so I'd be surprised if he outlives her.

Mum I think maybe, she has a flat but there are four of us and she may well need care.

I don't base decisions on inheritance because I hope my parents live until I am old (even tho they bloody annoy me)