To ask if you’re likely to inherit much?

[WimblesThimbles]

Anyone else not really got any generational wealth to speak of?

I have £30k in savings for a house deposit, currently rent and I’m nearly 40. Not much likelihood of a lottery win and no generational wealth to come into.

I feel like all my friends have had a financial head start through some type of either financial gift or inheritance.

Anyone else like me, and just going it alone?!

No inheritance to come and hardly any 'savings'

£0 from my dad. Doesn’t have a penny to his name or a house to leave to me.

However, Mum and step dad are comfortable and I have an aunt with no children and I’m an only child so I think I’ll end up with a hefty figure.

although I’d rather have them here and inherit nothing.

inherited around 700k from my parents around 2 years ago (only child) after a lifetime mortgage, taxes and trust funds / gifts were paid.
my DH will probably inherit a substantial amount from his parents (he has one sister ) not sure how much but I’m estimating conservatively 700/800k but they are both in relatively good heath in their early 80’s.

I would implore many of you to consider a care annuity for parents when the family home is sold.

DM went into dementia care around 2021 and her inflation linked annuity and pension cover all her fees leaving the remaining house proceeds untouched to accumulate.

The annuity was c£135k.

I inherited enough to pay off my (fairly small) mortgage and to do a couple of things to our house, plus I gave each of my children a lump sum towards house deposits.

My DH inherited enough for a tiny extension and a lovely new kitchen.

My children will get a share of the value of our house, and of any life insurance/savings left after we are both dead. It won't be masses, but if we both popped our clogs tomorrow it would probably be around £150k each, which would certainly be a help to them.

Considering my mother isn't even currently talking to me due to some perceived slight on my part I dont think I will be getting a darn thing

My dad died with very little (but lived a full life until his last year) so no nothing

Nope. My mum married a twat then died, so all her money went to him and will go to
his kids. My dad is old but also a twat and we are nc.

Yes - likely to be mid 6 figures.

Parents house is in some sort of trust to Dsis and I, so that's £250k each - it can't be used for care fees. They are both mid 70's.

Then there are several other assets (art, jewellery, etc) which are are also worth a bit.

DF was a high earner so they've got investments as well as decent pensions. DM's pension was NHS and not far off her actual salary based on her length of service.

My DM's side generally don't make it into their 80's, and most don't make 70.

DF's generally live into their 90's, but all of his brothers died at 70.

Both are reasonably fit, but DF has Parkinsons and is definitely going to need support - he's alreadt said he'll book a one way ticket to Switzerland rather than going into residential care. They've been together 55 years, and whoever goes first will be shortly followed by the other.

I thought I'd get something.
My grandparents owned a house and passed wealth down. My parents owned property. My Dad died years ago. Now it's being spent at the rate of £1500 per week on a care home. It's a total lottery.

I will look into this, have not heard of this before.

Thank you.

I expect so with the usual care home caveat. Both DH parents and mine are divorced homeowners so 4 lots of estates to inherit, plus a couple of childless relatives on both sides who we will likely imherit from. Parents are all 60s still so really not anything anytime soon, thankfully, I expect when we do it will pass to our kids. All my grandparents are still alive so we may inherit sooner from them as they are all 90s.

But DH and I have our own home, massive mortgage and good jobs, so we dont rely on it or factor it in.

In theory yes. However, I’m not actually banking on receiving anything as the future is uncertain and don’t know yet if property etc will need to be sold to pay for care fees etc. Instead of thinking I may inherit x, y and z, I’m going with the assumption I’ll get nothing and to get my own financial affairs in order as best I can. Anything extra will just be a nice bonus (although I’d much have all my relatives forever, obviously!).

I hear you and you are not wrong but if was to set all my kids up with that and not be on the breadline I would need to be a multimillionaire? House deposit £150k (they would all like to live in the place they were born!) Uni costs £70/75k (is that reasonable for 3 years?) who knows what a good start to a pension is £50k plis maybe £10k to set them up. So that’s £285-300k each. Wow I’ve never actually set it down like that so thank you for that comment! I also need to eat so that’s even more money.

"Try to make ends meet, you're a slave to money then you die". Pretty much sums up my situation and outlook.

It’s impossible to predict. Much depends on whether care costs are needed.

No. My mum doesn't have two pennies to rub together despite several opportunities to give herself financial security and I've never met my father.

Your brother's behaviour is shocking!!!

Depends if my parents need care I guess!

I mean not loads, but they own a house. I have siblings too share that with. I don’t bank on it though - they may well need care or I might die first, who knows??

I’ve got a guaranteed £17k. Literally no idea when I’ll get it though as it’s tied up in my dad’s share of his and my step-mum’s joint house. She now has a life interest and can live in it until she passes. My share won’t be affected even if she needs care as they were tenants in common, so my share is ring-fenced. Possibly a couple of grand from my mum but no idea when.

Absolutely nothing coming our way from either side ,grateful that 3 parents had money to pay funeral expenses. Sister and I expect to be paying for our father's funeral when he dies.

My parents lived in a council house and never had two beans, so I didn’t inherit anything from them. My grandmother left me £10k, which was a lovely surprise. I’ll get a life interest in half a house if I’m widowed, but with the responsibility for maintaining that plus the half I own!

Unikely to inherit. In my sixties now with 30 k savings after a lifetime of working. My own kids will inherit i should think

DH and I are both from what I would say are pretty average middle income families, but we're both only children of only children. So unless care for parents in old age hoovers it all up (which is fine) we probably stand to inherit more than average.

I'm only getting what comes out of sale of DPs retirement flat. I encouraged them to downsize and enjoy the money while they were alive, anything I get is a lovely bonus but is not mine by rights as far as I am concerned. They both worked hard in hospitals and I want them to have a comfortable retirement without scrimping on putting the heating on.

Likely a third of a nice house amount but in my family inheritances come in retirement as the women tend to live well into their 90's.