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?!

I’m 61, never had any inheritance DM is still with us and has approx £10k in savings and lives in rented sheltered accommodation so I will not get very much
My DC who are in their 30s will do much better if it doesn’t all go on care home fees etc, as unless I blow it all probably have around £600k to split between the 2 of them

My dad took out £27k of equity release and when he died there was £88k to pay back. Pretty much what his house was worth so the equity company took it to clear the debt. A very sad ending to our family home of 45 years.

I had to restart after my hubby died in 2016.
His death allowed me to give his kids (my DSC) money to put towards a house deposit, so they're both nicely on the property ladder.

I have a big mortgage and keep chasing contracts to fund mine and DS&DD lives.

I'll inherit a small £ from DM nothing from DHs side as his mum spent every penny his dad had and then dumped him.

I'm using my pension to buy commercial property and investing the tax free portion in residential property.

I can downsize eventually in several years, so going to be working way into my 60's.... But hopefully my kids will have a better start to their lives once we have a few properties...

If you can buy a free-hold property: go for it, go for it, go for it! Property is rising about £1k per month. Rent is also rising. Beg, steal or borrow the money to get into a freehold residential property!

My kids, but especially my eldest DD. I had her at 24 and she is now 28. She has managed to save a house deposit whilst renting and working in the NHS. All I have to leave is my modest home, which will need to be split 6 ways and hopefully wont be for a long time yet.

My and exDH's parents are all typical boomers. Made money in the good years and on property, grew it massively with a plan to pass it on but have totally ignored the fact that most of it will go on care costs. So its very unlikely my kids will get anything passed through us from them.

Not really. I inherited £1,000 when my nan died (as did the other 8 grandchildren) & £10k from the other who had only had one child.

I’m sure my parents house will go to me & my sister but it’s a very small ex council house in a not particularly desirable part of a small town so not worth much, plus by the time they die I’d be too old to get a mortgage so it wouldn’t do me any good in terms of being a hefty deposit to get my own house (I currently rent and don’t see any way of that changing).

Mumsnet is funny as there will be plenty of threads full of people whose parents pay full public school fees for several grandchildren so that parents can save to give kids’ house deposits when they leave school, and then threads like this - with normal people on!

I'm in my early sixties, my widowed mother is 88 and in excellent health, runs her own house and garden herself, I fully expect her to reach 100. When the time comes my siblings and I will get about £500k each, but if our mum needs care then we want her to spend as much as she can to get the best possible, so it may of course be much less.

Nope, nothing from my side anyway my DH will inherit something from his parents though

No idea - both DH and my parents own property/have investments and we also have other relatives (aunts) who have spoken to us about future planning/POA as their nearest relatives.

I have made a choice never to think about, ask for or expect any money from them, no matter what has been mentioned or promised while sorting out POA and so on. Who knows what the future will hold in terms of care needs, investment changes and age?- there's no point waiting around for an uncertain sum at an uncertain time, its just as much as a waste of time as planning what you would do with a lottery jackpot that you haven't won
Ive seen too many people controlled by promises of inheritance so we concentrate on earning enough to fund the lifestyle we want/can afford, and make investments for our retirement and our children's futures now, without taking other peoples money or potential inheritance into account. If we ever inherit anything it would be a bonus, but I consciously wont bank on it.

Im in the same boat as you OP - 40 this year, about 25k saved but im starting to wonder if its worth getting a mortgage at my age. I'd need a big house for my 4 kids... might think about buying a flat and renting it out so ive got somewhere for my old age.

I’ll inherit the house, my mum is most likely gonna put me on the deeds so we don’t have to pay inheritance tax. Her wishes are that it’s the family home and it’s not to be sold unless we are all in full agreement. Me and my 2 siblings. Nothing from my dads side, he don’t have shit and has an additional 3 kids and a wife so…

I probably will inherit half of an average sized house, but I fully expect to be at least 70 before that happens, and no one really knows what's going to happen in life anyway.

We started with nothing (still have most of it) but bought a 3 bed house in 2006 for £57k. That has enabled us to give our two children £300k between them as deposits for their houses in 2024. Now prices have risen again and we are buying a £400k bungalow. None of this is normal or even moral, but it would be foolish not to jump on the gravy train if you can.

I did receive a small amount which was helpful. my late aunt told me i was her beneficiary many years ago and that she had over 500k stashed away...however over 20 years in a care home ate most of it...you cannot predict or know what will happen with family money !

need to be careful with that plan...do take proper advice...tax could be payable !!

Well as this is anonymous I will admit this is a current topic of conversation in my house.

I stand to inherit a fair bit from various relatives as I have married into an unusual family where the older generation didn’t have children. This is weird because their wealth sat with them and then will/has been passed down the line to me/my husband.

it feels grubby to have had the privilege of things going this way but there it is.

We’re due about 100k this year (after taxes & probate etc) from a lovely but fairly distant relative.

I realise this is particularly unusual but it’s lawful and we’re not planning on any weird tax dodge stuff. We have some modest plans but will keep it quiet. It’s unearned income and represents a huge deal to us.

Potentially up to a million.

As pp has said, your mum and you absolutely need to seek professional advice before doing this or it could achieve nothing and make more financial difficulties. For example, if your mum gives you half her house and carries on living there and you don't, unless she pays you a market rent for your half the gift may have no benefit at all regarding reduction of IHT.

Edited to add @Kickinthenostalgia as I forgot to quote.

Nothing from my dh’s side.

My parents gifted us 50k house deposit as “early inheritance”. They own a house worth maybe 450k and some assets (art, jewellery etc) but any of that could go on care home fees I think? I’m not sure if they still have shares etc as we’ve really all encouraged them to spend in their retirement ( I’m one of 4 siblings).
I know I’m a beneficiary in my Uncle’s will - I’m executor too. He has no children. Divided amongst me and siblings but again I assume it will be used in care home fees.

My parents and PILs own their houses outright, so we'll likely get a share when they're gone, if it isn't needed for care fees. But I expect it won't be until we're in our 50s/60s (we are already late 40s now). We have already had to make it on our own, no money given for deposits, and me, FH and my siblings have all managed to save money for our houses through our jobs and investing our money. Wealth hasn't passed down the generations - our GPs are dead and there was no inheritance there.

I inherited just after we had moved house and I was getting ready to retire (early at 57). We were already mortgage free and I was going to start taking my pension anyway when the inheritance came through.
A significant proportion of my Dmum & Ddad savings had gone on care home fees but there was still a healthy balance and there was the house to be sold (we had been renting it out to provide an income to help with fees).
Didn't change our plans as such but it meant we knew we had the extra behind us.

I have a very wealthy “titan of industry” type grandparent, but I’ve been estranged from them for half my life. My sibling will likely inherit IRO £1m, we are close and they dislike what GP has done to me so may share, but is also having a child so also may not. There is also a very real risk that our cousin may inherit everything, bypassing my sibling.

My other GPs are still around but likely will leave their house (only real asset) to my vaguely chaotic aunt, as my parent is estranged from them. Possibly we could inherit from my aunt but she does have several estranged adult children, though they haven’t spoken to each other since the DC were around 9. Our parents are still young & fit, have remarried younger people with children, so unlikely to inherit much there, and less as anything would be split minimum 7 ways. We were all given approx a third of an average house deposit and a small sum towards weddings.

DP has only one sibling, however his parents are spending money fast on holidays which we do not begrudge so likely only a house but of course depends on care costs. They are also quite likely to bypass us and leave to our DC who are the only GC on their side.

I am making absolutely sure my DC have at least a small private pension from me, a chunk towards a house deposit & GPs are saving towards things they value (travel & education).

It can’t be that most people you know have already lost their parents if you are only 40 though? I’m 47 and will inherit something when the last of my parents and last of my in laws dies but that could be years away so it hasn’t given me any start in life or on the property ladder etc. I had to do that myself.

From my side there could be a small amount but I expect (and am very happy) to have to spend it on care for DM. From DH’s side maybe but it will be split three ways and we encourage PIL to spend and enjoy their retirement.

I might not inherit anything due to care needs, but when I was much younger, my parents gave me a significant amount of money towards a flat deposit so I could buy my first home. So I can't really complain if I don't inherit anything.