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?!

Remember anything over 325k or 500k if it includes a house, goes 40% to HMRC anyway

DH did, when he was in his late 40s. But that's because both parents died relatively young and consequently our children never met them. While on the surface that looks 'lucky', I'd rather not have had the money and for my kids to have had paternal grandparents in their lives.

No but I got my parents to leave what would have been my inheritance to my son

Theoretically yes but I think my parents may need care so possibly not a bean. They are already really ancient and have definitely declined lately.

Me, no.

DH’s parents own a couple of houses though.

Very unlikely, better not to expect anything.

Recently seeing a friend who had assumed that at some point she would be entitled to inheritance. Her Mum now being moved to a care home. They’ve worked out as they have enough for around 6 years once house is sold. No idea how it will be covered once money runs out.

Whilst she would prefer her Mum to be well and healthy, she’s having to deal with emptying her family home, she’d always assumed she would inherit the house.

No. My mother was horribly abusive to me throughout my childhood. I'd probably fall over dead if she left me a share. I imagine it will be split between my siblings.

Yes, I've always done it alone. My parents divorced when I was very young. Both remarried. My dad did a disappearing act once he had a new family. My 'mother' I've had no contact with for over 30 years as she's highly toxic. It's not easy but you can do it by living within tight budgets.

NC for this as I'm identifiable from previous posts. I walked away from a previous marriage with nothing as I said he could keep everything, if I had full custody of the kids. I live in a council house with my husband who said the same to his ex wife.

I have ADHD and am terrible with finances, so no savings and in a couple of thousand in credit card debt.

My ex pays bare minimum cms despite being a landlord/owner of three houses and lives in one with barely any mortgage.

My dad died and left everything to my step mother, who hates me.

I Will inherit around £200k if my mum outlives my stepfather, but zero if she doesn't.

My DH will inherit nothing.

We both work as hard as we can, but my earning capacity is very challenged due to ASD and ADHD school refusing children.

Basically feel like my life is fucked.

Possibly a bit from DH side, possibly a bit more from mine due to being an only child, but we are not counting on anything as it will probably all go on care fees. I am OK with that, I would rather they spent it on a comfortable old age, and have the care they need, than suffer for our inheritance.

I could inherit an estate worth around £10 million. My parents are not in good health in their 80s so anticipate they will spend a chunk on care. Inheritance tax will also be due I am sure.
I am in poor health and don’t have much money at all. My parents have had a fantastic life and they were very successful. I don’t think about it and have a successful career (not well paid as public sector) and lived my life anticipating that I will inherit nothing and have never asked them for financial help.

Dh’s inheritance is likely to go on care home costs - if they do not he has decided to give it away to his sisters as they are less well off than him. My inheritance is likely to be swallow by care home fees or dishonest siblings - it’s not going to be much after everything is covered anyway.

Yes though will get hit by the new inheritance tax on private pensions pretty hard!

Depends on care needs.

On the other hand if DH & I were to die our DC would be rather well off - life insurance, death in service benefits, pensions (so not money we actually have!)

On my side no, all my parents have is a load of debt, on my DH side his parents do have a small home that needs a huge amount of work done so if no care is required possibly around £40,000 max

At present yes, half a house each from our respective parents. But in reality if those parents need care at some stage then that will take a significant chunk. Also my brother needs an inheritance more than I do as he doesn't own a house so if it does reduce I would probably give him my share.

A decent amount likely when I'm 70 so it didn't help me buy a house! But it might mean helping my kids buy homes.

From my mum and stepdad’s house half of that. Plus sale of an investment property of my mum’s. Any savings and investments my parents have too. To be quite honest though my 2 nephews will need money as they grow up so hopefully they’ll be provided for. My parents live fairly frugally now and mum inherited from her family so that’s mostly where money has come from. My parents are also adamant they won’t go into a home.

Absolutely nothing. My in-laws have written DH and I out of their will (with our permission), we're in a relatively strong financial position (as in we own our house and have pensions, not loaded or anything) and his brothers aren't so they asked if they could leave the house to just his brothers rather than splitting it 3 ways. My dad has money but we don't get on and I think his latest wife is younger than me so not holding my breath on that. My mum is selling her house and moving into sheltered accommodation, I expect she will spend the proceeds over the next few years, fully supportive of that!

The only person we have to inherit from is my mum who is 89 (DH 's parents are long gone, as is my dad. Neither of us have grandparents alive either). She's in council rental so no property to sell. We'd prefer her to spend her savings on herself but whether she will is another matter. She is reluctant to make a will so I'm assuming whatever is left will be split between me and my brother. It won't be much, possibly about £10k each, but is really prefer her to spend what she has on things to make her life easier - a new sofa, bed etc.

Nope.

Yes, if my last surviving parent does not experience social care costs. If that occurs you might as well burn the money! Any inheritance is likely to come too late to be much use. Hopefully my parents have a long and healthy life.

I have a few clients in care who are quite well off. The thing is, their DC are often in their 60's or 70's by the time they inherit anything. DH & I won't inherit much as DF squandered their money & FIL remarried & has willed most to new DW.

I see head start funds making the most difference. DC who get deposits, early inheritance (one client in 30's just got 500k) and support like education being paid for. My relative's DC have expensive uni courses & accom paid for, cars, holidays. Connections for jobs & huge investments maturing for houses etc.

Millions in land, no actual money though, and land will pass to next generation.

Unless Rachel Reeves changes her mind again.

No, I come from a dirt poor family and I’m not in contact with any of them anyway.