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?

Care costs will further polarise the gap between those who inherit and those who do not because those who would have inherited a modest amount a generation ago will not now see that happen.

Only the beneficiaries of the really wealthy, who can pay £300k or more for care and still leave a house and shares, will inherit.

Longer lives, healthcare improvements, all welcome because we do not want to lose our parents, I am commenting only on the financial aspect.

If there's anything left then yes my brother and I will inherit it. My parents are quite open about that. However my mum has a life limiting illness and needs carers in everyday to help my dad with her care so not sure what would be left anyway.

after discussing it together DH left his half of property to children so if i end up in care it wont all go in fees. Hoping to die quickly if i go downhill as wasting away in a care home in my own waste eating slops is not an appealing vision

If my ddad passes first then no I won't get a penny as I am the least favourite child to my mum. My ddad won't agree to change his will as he doesn't have favourites. So if by some miracle he outlives her, I will get an equal share. I knew years ago I could not rely on any inheritance so I prepared financially for my future. Have property, a paid for home with my dp, pension and savings. My mums favourite has made no provision and doesn't even own their own home as they always knew they were the favourite and would inherit. Trouble is they will likely be well over 60 and our parents are now paying for care so it will dwindle. I think that's what they call karma.

DM is well off, but she tries pretty hard to spend it. I am not wanting or relying on an inheritance, although it is likely I will get quite a bit.

@goodgodingovan I agree. Same here I would rather have my parents alive.

yes, ive been told i will. But, if they leave it to the dogs home then fine! Id rather there was nothing left and they have a banging time!

My dad was in a care home for just under a year, and had some of those fees refunded under CHC, and much of the rest paid for out of his pension, so his estate was largely unaffected in the end. But we were all adamant he should be comfortable however much it might have taken from his funds.

I expect my mum's jewellery because she's already said that's what she's leaving me. As for money, no I don't expect anything. They've always said when they retire they will sell up and travel so i hope they spend every last penny enjoying themselves.

My parents benefitted from their parents' help to buy the house that my sibling and I have now inherited and I know that my grandparents on my father's side were gifted their house by my great grandparents when they got married. So it would have been quite mean for my parents to break that generational chain of generosity and leave their estate to someone else. However if they had sold up and spent the money on cruises then I would have thought good for them. But in answer to your OP - yes I would expect parents to leave their estates to their children, if there is one to leave and no bad blood between them.

If mine don’t break their cruise habit I won’t

wasting away in a care home in my own waste eating slops
That was absolutely not our experience. My dad was in a fabulous place and was very happy and well-cared for.

My mum's told me how it will be split, so yes. She's hell bent on not going into a care home .

No expectations. It’s their money to spend and if they want to donate to charity it’s their choice. I’m happy with what I have now and I’ll be less happy without them around and a bit of cash. No one has the right to dictate where someone wills their money unless they lent some and are owed it back.

Hoping to die quickly if i go downhill as wasting away in a care home in my own waste eating slops is not an appealing vision

That's a very simplistic way of looking at it though. My grandmother needed in home care every day, which my mother couldn't provide. That was for 4 years! It cost a LOT of money. But she was happy. Just because she couldn't do everything herself at home didn't mean she was decrepit or dirty or miserable. Just that she needed some help sometimes.

As things stand, I would anticipate us inheriting a share in the the estates of my parents and my MIL.

However, I am not blinkered to the possibility of paying for care. And in the event I do inherit money, I will use it to set my kids up in the same way my parents set me up. My parents have benefited from cheap house prices and job promotions/decent pay. My husband and I will never be able to accrue the wealth my parents did and so while I am unlikely to add to the family wealth, I'd like to be able to pass it on to my own children to offer them the financial security that I had.

yy chipsy what I might inherit will hopefully be passed to my dc's

My DF died when I was in my 20s and was pretty astute, leaving his house in trust for me and DB. My DM is still alive and still living in the house. The trustees can sell it, but the stipulation is that another property must be purchased for my DM to live in for life. How this will work of DM needs to go into a care home, I have no idea. House is worth around 250k.

I don't expect it. But I know that when DF died, notwithstanding a couple of charity gifts, the rest went to DM and when she dies, it will be shared equally between my sibling and I. However, I frequently make clear to DM that I don't expect anything, and she should do whatever she likes - she's earned the chance to have some fun in retirement if she wants to. I also feel that whatever I do get, I will try and spend on my DS in a useful manner (uni, car whatever he may need at that stage). My parents worked their socks off all their working lives and I'd feel a bit guilty to just get a windfall, especially since DF died youngish and they didn't get a chance to enjoy it together.

I know I will be left quite a bit from my grandparents as they have been very open with our family about who is inheriting what and why. I don't expect to inherit from my mother because she hasn't been as progressive in terms of planning/saving/investments regarding her retirement and the saving for care, etc.

Knowing that I am inheriting hasn't changed the way I live my life, in fact, it has caused me to work harder, want to earn well, and save and plan for the future because I have seen how this mindset has benefited my grandparents. They have a very nice life and aren't concerned about growing older from a financial point of view because they know that they have more than enough to see them through.

DH and I don't consider our future inheritance (he will inherit from his parents too) when planning for our life. We work hard, earn good salaries, and are frugal on the things that aren't necessities (for example, we would rather spend our money, after bills and savings are paid, to travel and buy good food. We don't spend money on electronics, new cars, etc.).

My mum left everything to my df, though we were given her jewellery even though it was "technically" his. He wrote a new will with the help of my dsis however since he met his new partner 11ish years ago he's become very secretive and transfers a lot of money to her. I wouldn't be surprised if he had changed his will to leave her everything (even though she is a very wealthy woman in her own right). I don't expect anything but I would like certain family items and photo albums.

Dh's parents have a lot ring fenced for him and his brother - through hard graft and shrewd choices. His dad has stashed lots of pots of money for grandkids. I adore my old, particularly my fil. I've just told him to spend it on motorbikes instead.

Like many others, I’d prefer our parents to enjoy life and use their money and / or assets as they see fit. Care in their later years will erode any remaining funds I would imagine.

If care requirements don’t erode the estate there is approximately 800k/900k in assets and 100k in funds in my parents case. I would imagine it’s an even split between 3 siblings and I but I really have no idea and have definitely not planned my life on the basis of gaining inheritance.

DH already knows that he will inherit 30k from his Aunt. He will also inherit property currently worth 500k from his DM. He may also inherit some land from his Uncle, he has been told this but not seen any will so it may not be accurate. Thankfully, all are healthy and well so it’s not something on his mind.

Nothing for me from my parents. DH has been told by his mum what she’s leaving him but his dad has nothing to leave.

I would rather they sell up and enjoy their time here. As the saying goes, we're here for a good time not a long time.

“Expect” in the sense that I know my parents are splitting their Will between me and my siblings equally. Not that any of us are going to be made wealthy by it! I would be a bit hurt to be left out, but then it is, of course, called a Will for a reason, and people have the right to decide what to do with their own money.