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?!

Probably not. I there are three paid off small houses between my in-laws/parents but four lots of potential care costs.

one I could happily help care for.. three are very difficult individuals and would be resistant to help as they get older.

I don’t really like to think of them in care .three of them would absolutely hate it.

all still in 60s and three of them very fit and healthy so it’s not a worry at the moment.

My Dad died last year and I have inherited a decent amount. Would much rather he still be alive. He was only 73. I miss him every day.

I won't inherit anything as my parents are leaving everything to the golden child. That's the way it is.
I won't be doing that to my own children.

I’m ten years older than you and have inherited from my dad(everyone else already dead). I’ll inherit from another family member, if they don’t need substantial care.

It’s really tough being the last one standing to deal with everything.

I obviously don’t know much about DH’s family finances and whether he would inherit or not.
Whatever my mum has (which isn’t much) will be split between 4 of us

Everything was signed over to my sister when we were first adults. She’s going to inherit a £250k house, but there’s no significant cash there or anywhere else. Also going it alone. And single parent.

We are helping DH dad out. No money from that side. My grandparents money mainly went on care fees and I don't begrudge them that in the slightest. There was some left but we are big families so it didn't go far.

My parents had me young so although they are wealthy I think and hope I will be quite old before they die. I would pass any money from them to my children.

I have quite a number of friends who have already inherited many hundreds of thousands or even millions from grandparents/elderly family.

It feels increasingly like hard work/career success is an irrelevance when half the country will get a lottery winning amount at some point

Likely a lot from both sides. But our approach has always been to build our lives and careers as though we aren’t going to inherit and always to live within our income and save for the future.

My parents have put half their house in trust for my brother and I so that when the last one is left only half the house can be taken in any care home fees (their choice, they decided, sorted the paperwork with the solicitor and then told us) Dad worked really hard and saved, my brother and I are being gifted an amount this year (the maximum our parents can gift without tax penalties) Mum & Dad would rather we had it now so they can see us enjoy/ benefit from it. Hubs parents are in a similar financial position as my parents and assuming that house doesn’t get swallowed up in care costs then we will be due a reasonable amount. As I put on another post I know I am very lucky and privileged. Hubs and I also have our own savings and pensions so aren’t relying on any inheritances for our own retirements.

Dh parent gifted us £150K when they downsized some years ago then another £100k when they passed a couple of years ago. Used for a house deposit along with some savings and then to pay a chunk off the mortgage. We’re mid fifties though. Ds also inherited £30k at 20 years old and has so far been sensible with it (Vanguard funds) and understands it’s towards a flat deposit. We might be able to help him further in a few years when we receive the lump sums from our pensions but still have mortgage ourselves.
My mum has a very cheap flat up North. If I inherit anything it’ll be about £15k which I’ll pass on to Ds.

There will be a huge wealth divide in the next generation due to inheritances.

That’s awful!

I have no idea. Im due to inherit something from my grandmother but currently her children are bickering about having to spilt it with grandchildren even though all their mortages are paid off & they have good pensions. 🙄 My grandad I am completely unsure theres a lot less family on that side so I have no idea but he’s extremely well off.
My parents god knows. My MIL died and just left debt.

Can’t recall what I posted but basically a third of £2M house, half of a property (unsure of value), parents savings etc if they haven’t spent it all 🤣, and antiques, lots of those. Plus Edwardian/victorian jewellery. Parents are adamant they won’t go into nursing homes but I wouldn’t mind if they did go.

My grandparents on mum’s side died, grandad had lots of antiques but no will so he left a deathbed will. Ended up being a feud between his 2 daughters and my mum (their half sister). Their mum was put into a nursing home a long way away from one daughter. A great uncle left my mum a fortune and though never said they’re still bitter. Grandad got a decent amount but blew it all and expected a seaside cottage from his brother. Antiques not worth much at all apart from a Queen Anne chair.

I mean drew up a deathbed will as family pressured him to do so. Fight over will and executor who was his first wife, my nana and my mum’s mum. Court case involved. Death threat from evil uncle to nana, she asked a dodgy friend in front of me and my mum where she could get hold of a hit man, deadly serious! 😱we talked her out of it…

It feels increasingly like hard work/career success is an irrelevance when half the country will get a lottery winning amount at some point

Its true.

I am 49 and i’m finally buying in August. I moved to South London / Surrey border 25yrs ago for a job, and apart from 6yrs over 20yrs ago when I bought with my ex, i’ve been renting. I saved a deposit 2020-2023 when my ex asked if I wanted to live in his house with kids when he was working overseas, as he knew I wanted to buy (we didn’t make any profit from house we shared but he bought again as he earned more than me). So I saved 50k in last 6yrs, but had to wait until youngest DC was 18, and finished sixth form, which is this summer.

No-one has given my any money, obviously I got that leg up from my ex but he never gave any maintenance over the years despite earning double his salary overseas for years and leaving me to do everything. He did give me a small lump sum 2yrs ago when I lost it with him and said he was paying (he is paying over 100k to pay both through uni though). My mum owns a house worth around 300k, which I guess half could be mine one day, but she may well need care. At least i’ll be closer soon to help her though as she ages.

My mum did offer a few years ago to help with deposit but I didn’t need it. I am fortunate to earn around 70k, though will be dropping by 5k to a national salary, but i’ll be paying a mortgage until 67. I do have a good DC pension, so will pay any remaining mortgage with my lump sum, or can afford to pay mortgage with retirement income. Just hope the rate doesn’t go up too much. I am looking into some side hustle's once i’ve moved and will use that to over pay my mortgage.

Overall i’m super excited to be buying a brand new house in a lovely location all on my own. I was a teenage mum on benefits over 30yrs ago, and am proud of myself for being able to buy this house without any assistance. I am also grateful that I can finally buy, even if it does mean slogging away until 67. Thank goodness I love my job.

Same. Feel like lots of friends and colleagues have had a significant leg up via inheritance. Not a green bean at this end.

Congratulations @Zanatdythat's good to read.

Since I first posted on this my husband has inherited enough to pay off our mortgage. So we’ll be doing that and now will try and save that money for retirement and to help out our kids.

I inherited about £10k cash from my Mum, I spent it on a holiday. I also inherited half her house but we cn't sell it yet. When I do I will get around £100k.
DH will probably get the same when his Mum dies (unless she needs care). His Great Aunt died recently (no DC) and I expect his Mum will get around £150k there which she may well share with us. If she doesn't though I wouldn't be pissed off, I don't expect it.
Luckliy we don't really need it so any inheritance is an unexpected bonus as far as I am concerned

Nothing from DH's side, a possibly small amount on my parents' side (maybe 20K or so).

Even those that do get an inheritance, assuming your parents live to their 80s (isn't that average now?) and had so by their mid thirties most wouldn't get an inheritance until they are about 50 so they have to buy a house and raise the kids before they see anything.

True
By the time we got/get it we won't need it.
We will most likely give it to our DC

Doubt it as i think dsis has convinced dm to change her will and cut me out. We are now nc She also convinced dm to do an equity release on her house so that will need paying back and dm is now in a care home. Our mortgage is nearly paid off so would have used the money to to help dc with house deposits.

we got £20k from mil as the rest went on care home fees